On March 30, the federal government provided more details about its wage subsidy program that aims to provide relief to dealerships both big and small — and particularly its employees.
The program now aims to deliver a 75 per cent wage subsidy for qualifying businesses across Canada to keep (and return) workers back to payroll, and is retroactive to March 15, 2020. A video of the announcement can be found on CBC.
“If your business’ revenues have decreased by at least 30 per cent because of COVID-19, you will be eligible for this subsidy,” said Prime Minister Justin Trudeau during his announcement. “The number of employees you have will not determine whether or not you get the support. It will apply to non-profit organizations and charities, as well as companies both big and small.”
Trudeau said the program’s goal is to ensure Canadians are still getting paid, whether they work for a business that employs 10 people or 1,000 people. So for employees working for a company that has been impacted by the novel coronavirus, the government will cover up to 75 per cent of their salary on the first $58,700 that they earn, according to Trudeau.
More details about the program will be unveiled on March 31 by Finance Minister Bill Morneau.
