As businesses across Canada continue to utilize the Canada Emergency Wage Subsidy (CEWS), it is imperative that a business is tracking how much of the subsidy they have received. The CEWS Registry created by the Government of Canada allows for companies to track how much they have received in CEWS as well as future pending funds. The tool is an easy to use registry where a user has to either enter in a corporation’s business name or enter in a business number. Please note that the tool is only for corporations and will not share details of personal CEWS subsidies.
With all government funding programs and subsidies, it is important to track every dollar collected as it will affect your companies SR&ED Tax Credit Claim. We at Braithwaite are noticing an increase in financial reviews this year as many businesses have utilized the CEWS subsidy. CRA is just doing its due diligence to make sure businesses are not double-dipping when claiming CEWS and SR&ED. For a breakdown of how CEWS affects your business’s SR&ED Tax Credit Claim, please click here. (How The Canada Emergency Wage Subsidy (CEWS) Affects Your Companies Scientific Research and Experimental Development (SR&ED) Tax Credit Claim)
For further information on CEWS as well as its effects on the SR&ED Tax Credit, please contact Braithwaite Canada today.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.