On March 3, 2021, the government announced that the CERS and CEWS would be extended to June 5, 2021. They said both programs will be maintained at current levels. This is good news for businesses who are still struggling. Here’s what that means below.
CERS and CEWS Extended June 2021 Details
The Canada Emergency Rent Subsidy (CERS) will be extended to June 5, 2021. It will still cover up to 65% of eligible employers’ rent. Also, the additional 25% lockdown subsidy top-up for hard hit businesses restricted by more severe public health guidelines will be extended to June 5, 2021.
The Canada Emergency Wage Subsidy (CEWS) will also be extended to June 5, 2021. It will still cover up to 75% of employees’ wages for eligible employers.
The government also announced an extension for Furloughed workers to June 5, 2021. Here’s a quote from the government’s website regarding this:
“the government intends to continue to align the wage subsidy rate structure with the benefits provided through the Employment Insurance program from March 14 to June 5, 2021. This means employers who qualify for the wage subsidy would be able to continue to claim up to a maximum benefit of $595 per week per employee to support remuneration of their furloughed workers.”
The Prime Minister said, “This isn’t the time to pull back on support for workers or business owners, it’s the time to see people through what is hopefully the final stretch of this crisis and it’s time to get the whole economy ready to come roaring back,”
Hopefully he is correct and we are in the final stretch of this pandemic. But as already seen so far, the coronavirus is unpredictable and highly resilient. So only time will tell if we are nearing the finish line. Until then, please stay safe.