The Temporary Wage Subsidy for Employers is one of many business support programs announced over the past few weeks by the federal and provincial governments. The Temporary Wage Subsidy for Employers is a three-month measure that will allow eligible employers to reduce the amount of payroll deductions required to be remitted to the Canada Revenue Agency (CRA).
Our Ladysmith Chamber of Commerce President, Tammy Leslie, of Palmer Leslie Chartered Professional Accountants, has prepared an excel spreadsheet that you can use to calculate the amount of subsidy you are entitled to plus information that you may find useful and a link to the “frequently asked questions” page on the Government of Canada website, which provides very good information. This spreadsheet is setup for a semi-monthly payroll and can be edited as needed to your payroll payment period i.e. monthly or bi-weekly. It also contains fake employees and wage amounts for examples sake which you can edit to fit your payroll situation. To access the spreadsheet see formats below:
We hope this is helpful as you prepare your remittances for the next few months.