Handshake

Federal Government Announces Wage Subsidies For Business

Dear Magazines Canada members,

In his daily briefing in front of Rideau Cottage this morning, Prime Minister Justin Trudeau announced that the federal government will offer an up to 75 percent wage subsidy for qualifying businesses for up to 3 months, retroactive to March 15, 2020. The move is intended to help businesses keep and return employees to payroll.

In order for a business to qualify for the wage subsidy, it will need to have lost a minimum of 30% of its revenue directly as a result of COVID-19.

The government’s announcement states that detailed eligibility criteria will be shared before the end of the month, which presumably means by tomorrow, March 31.

We encourage our members to consult Canada’s COVID-19 Economic Response Plan for information on the various supports the federal government has put in place for individuals and businesses.

Please reach out to Melanie Rutledge, Executive Director, with your questions, concerns or feedback: 613.816.0823 or mrutledge@magazinescanada.ca. Your association is here for you.

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *