CEWS 2.0 Applications for Period 5

Last week, CRA opened the portal for CEWS applications for Period 5…

CEWS 2.0 Applications for Period 5

Last week, CRA opened the portal for CEWS applications for Period 5 (July 5 to August 1). This is the first period that involves the new rules (also known as CEWS 2.0).
CRA portal for CEWS applications for Period 5

This message is to let you know:

  • CEWS 2.0 is a lot more complicated than the original CEWS;
  • We will diligently assess all clients situations to determine whether they qualify;
  • We will begin working on the claims for all qualifying clients; and
  • We ask for your patience as we properly work through all clients (the deadline for all claims is February 2021).

As a reminder:

  • For Periods 5 and on:
    • Any decline in revenue for any month from July to November 2020 will make the business eligible; and
    • The greater the decline in revenue, the greater the subsidy.
  • Revenue decline does not need to be COVID related; and
  • There are now 10 claim periods.

Businesses not eligible for Periods 5 and on under CEWS 2.0 will likely be limited to:

  • Those with no payroll;
  • Small businesses with only family members on payroll that weren’t on payroll prior to March 15, 2020;
  • Those with no revenue drop; and
  • Those that are brand new.

Should you have any questions or feedback, please reach out to myself or the team. As always, we are here to help and support you.

The information in this publication is current as of the time it was written. This publication has been carefully prepared, but it has been written in general terms and should be seen as broad guidance only. The publication cannot be relied upon to cover specific situations and you should not act, or refrain from acting, upon the information contained therein without obtaining specific professional advice. Please contact Deuzeman & Associates to discuss these matters in the context of your particular circumstances. Deuzeman & Associates does not accept or assume any liability or duty of care for any loss arising from any action taken or not taken by anyone in reliance on the information in this publication or for any decision based on it.

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