Deadline for CEWS Applications
The deadline for CEWS (Canada Emergency Wage Subsidy) applications is January 31, 2021 for claim periods 1-5 (claim period 1 starts March 14, 2020 and claim period 5 ends August 1, 2020). January 31, 2021 is also the final deadline to amend or make elections for those claim periods. For periods 6 and after, the deadline is 180 days after the end of the claim period (for example, period 6 ends Aug 29/20 and is due Feb 25/21).
Note that some elections affect multiple periods. For example, the election of cash basis vs accrual decline method selection applies to all periods, while the use of January and February’s average monthly revenue as a prior period reference can be changed at Period 5. The choice used in period 5 will be locked in for the remaining claim periods.
If your organization has payroll and you may have experienced a decline in revenue in 2020 in any given month, and you have not yet determined if your organization is eligible for CEWS, you need to act fast. If you would like assistance from our office with determining eligibility, or calculating or submitting your CEWS claim, please contact us as soon as possible, and no later than January 13, 2021, as we anticipate a very busy end of January.
Don’t miss this important deadline!