cThe program will help companies that have experienced a significant decline in revenue, she says. They will be able to reconfigure the team of employees they need to recover and grow, increase the number of hours worked if necessary, or increase wages.
“The various hard-hit sectors such as tourism, hospitality, arts and entertainment will be able to catch their breath and revive areas of activity that we all hope to enjoy with pleasure,” says Ms Bibeau.
PEREC will support active employees from June 6 to November 20. The support ratio is 50% initially and gradually decreases to 20%. Ottawa estimates that the program will cost $595 million in 2021-22.
This program comes to the fore as both the Canada Emergency Rental Grant and the Emergency Wage Support in Canada have been extended on a descending basis through September 25.
“The Employment and Wage Subsidy program are designed to work together,” a press release said. Because the two programs overlap, eligible employers can get maximum support from the employment program this summer despite the fact that wage support rates are gradually declining, if they hire more workers or increase the number of hours or wages of workers. “
According to Ottawa, Canada’s emergency wage support has protected more than 5.3 million jobs so far, while Canada’s emergency rent grant and containment support measures have helped more than 187,000 organizations with rent and mortgage costs.
The trade credit program and the credit program for severely affected sectors were extended until December 31, when they were due to expire on June 30.
To assist companies in preparing their PEREC applications, a calculator has been set up on the Canada Revenue Agency website. This calculator integrates the new PEREC and Emergency Wage Support Canada (SSUC). It automatically tells applicants which scholarship will provide them with the most support.
Eligible employers will be able to apply starting July 7. The agency will start making payments to employers in the week of July 12.