With the new changes made by the Canadian Government, in the Wage Subsidy program, it will now be easier for companies to qualify for the program.
3 key changes made in the program are,
- A firm can now use revenue from January and February as a base of comparison, if it chooses. Previously, only year-over-year comparisons were allowed. This will help new firms
- To qualify, companies will have to show a 15% reduction in gross revenues for March. Previously, the threshold had been a 30% loss. The threshold will be 30% in April and May
- The government will allow the option to use cash accounting, instead of accrual accounting
Detailed Information: https://bloom.bg/2y5NWry