Finance Minister Bill Morneau announced proposed changes to the Federal wage subsidy program today that would make it easier for businesses to qualify and extend it until December 19.
CANADA - The Canadian Government is once again loosening restrictions on the wage subsidy, so that more businesses can access it.
Finance Minister Bill Morneau is proposing changes to the federal program that would extend it until the end of the year. The changes would mean that businesses would not have to prove a 30 percent drop in revenue in order to qualify.
Morneau has shared his proposed legislation with opposition parties, it still needs to pass in the House of Commons before it can become law. If it does pass it would extend the wage subsidy to December 19th and be retroactive until July 5.
Under the new legislation, harder hit companies would receive more of the subsidy. So instead of subsidizing 75 percent of wages for workers at businesses who qualify, the new legislation would offering qualifying businesses a base subsidy.
That base subsidy would change based on how much revenue a company had lost.
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