Integrates CRHP with CEWS to show employers which subsidies more beneficial
The federal government has launched an online calculator to help eligible employers prepare their Canada Recovery Hiring Program (CRHP) application.
“Canadian businesses have taken a substantial hit since the pandemic arrived,” says Diane Lebouthillier, minister of national revenue. “Thanks to today’s calculator launch by the Canada Revenue Agency (CRA), Canadian businesses will be able to easily calculate and apply for either the new Canada Recovery Hiring Program or the existing Canada Emergency Wage Subsidy (CEWS) program in order to get the highest payment to help them in their financial recovery.”
The calculator integrates the new CRHP with the CEWS, automatically showing applicants which subsidy will provide them with more support, based on the information they enter.
Recently, the national hiring rate in Canada surpassed pre-pandemic levels, according to a LinkedIn report.
But nearly seven in 10 (69 per cent) of employers globally are struggling to find workers to hire for specific positions, marking a 15-year high, according to the ManpowerGroup.
The CRHP and the CEWS are both based on four-week claim periods. From June 6, 2021 to Sept. 25, 2021 (claim periods 17 to 20), the subsidies overlap, with the CEWS rates gradually declining.
The CRHP will provide a subsidy equal to the incremental remuneration for a claim period multiplied by a fixed subsidy rate. The subsidy rate is 50 per cent for claim period 17 and will gradually decrease to 20 per cent by claim period 22.
The federal government has also released the CRHP web pages, which contain detailed information about eligibility requirements, how payment periods are structured and how the CRHP is calculated.