Business

Week In Review

By June 17, 2020 No Comments
April 24, 2020
Another week of history, sadness, anger and optimism has passed bringing us that much closer to the future-a future we hope that provides answers to the mysteries associated with this horrible pandemic the world is experiencing.
This week in Canada has brought further government direction and assistance plus benefit plan provider updates supporting business and their employee families.
In support of the business community, we have received confirmation of premium reductions from all employee health benefit plan providers. We have been discussing and calculating these reductions with many of you this week, and we are pleased to offer support in the area. If you would like to discuss the details of how these reductions are applied, please reach out to us, we will help you. Contact us at [email protected]
The government continues to develop programs to support individuals, students, and employers during the COVID-19 crisis. As an example, the eligibility for CERB has been revised to include more individual situations.
CEWS has been clarified and will be available via the CRA portal on Monday April 27th. The government has released the specifics and the calculation tool for the CEWS. We have been working with the tool assisting many of you. See link to the site: https://www.canada.ca/en/revenue-agency/services/subsidy/emergency-wage-subsidy/cews-who-eligible-employer.html
We have updated our Source of Income Replacement Chart with the latest subsidy program details – click here to view.
This week the government announced its support for students. This benefit will affect many of us as we hire and support students with summer jobs. We will provide an update when further details are announced.
And today, the Prime Minister announced rent subsidies program running April through to June to support small to medium business with more to come for larger businesses next week.
Although the announcements are daily and abundant, the message remains consistent from health care professionals, scientists and from the government; do not let your guard down, observe the rules of social distancing, stay at home, be safe – these measures are working.
As this new reality evolves, individuals are beginning to consider their own normalcy as we see some countries and jurisdictions begin to lighten the restrictions. Seeing others start to take back their social freedoms provides some optimism yet often makes us more anxious to get back to some form of normalcy as well. Being mindful and taking care of your mental and physical health during this time is essential. Be ready for the future as the country slowly opens.
Government websites are providing helpful resources and many of you are also able to receive support through your Employee Assistance Programs (EAP). Health providers are also increasing the services offered virtually – like physiotherapy and other practitioners. The benefit provider sites contain the details of their offering, and we are here to assist with any communications you would like to announce to your employees.
The Matheis Team is looking ahead to your ever-evolving concerns as an Employer. We will continue to keep you informed and work with you to answer all your questions.
Stay healthy and enjoy your weekend.