PRIME Minister Justin Trudeau on Monday said the 75-per-cent wage subsidy announced last Friday will apply to large and small companies, charities and non-profit organizations.
Trudeau said: “If your businesses revenues have decreased by at least 30 per cent because of COVID-19, you will be eligible for this subsidy. The number of employees you have will not determine whether you get this support. It will apply to non-profit organizations and charities as well as companies both big and small.”
Trudeau added: “If you work for a company that has been impacted by COVID-19, the government will cover up to 75 per cent of your salary on the first $58,700 that you earn. That means up to $847 a week.”
He said that the Finance Department is preparing technical information for employers. The wage subsidy will be backdated until March 15.
Finance Minister Bill Morneau and Small Business Minister Mary Ng will be addressing a news conference on Tuesday to provide more details.
Trudeau warned employers to pay the remaining 25 per cent wage to employees if they can afford to do so, adding: “If you think this is a system that you can take advantage of or game, don’t. There will be serious consequences for those that do.”