Canada Emergency Wage Subsidy 2.0 (CEWS 2.0)

Claim CEWS 2.0 for one Qualifying Entity

In response to Bill C-20 passed on July 27th, Tax Templates Inc. has built a new Canada Emergency Wage Subsidy (“CEWS”) worksheet to help businesses calculate their claims.

This worksheet is filled with features, including: 

◦   All calculations managed in one well-designed and integrated worksheet

◦   Optimization of the “CEWS 2.0” for each employee for each week to receive the maximum benefit available

◦   Macro to automatically import data from prior CEWS worksheets (video instructions)

◦   Built-in deeming provisions to automatically claim CEWS based on prior period qualifying revenues

◦   Built-in deeming provisions to help maximize the revenue reduction percentage for each qualifying period

◦   Maximizing the “pre-crisis” baseline remuneration for each employee based on all four period options

◦   Determining if any employee is without remuneration for 14 consecutive days

◦   Flexibility to choose between the “General” and the “Alternative” baseline revenue approach

◦   Flexibility to choose the Period 4 revenue drop percentage to be used in Period 5 (video overview)

◦   Calculate claims from Mar 15, 2020 to Nov 21, 2020 (and until Dec 31, 2020, if extended)

◦   Wage subsidy amounts for both active and paid-leave employees

◦   Supports payroll frequency of weekly, biweekly, semi-monthly, and monthly (or enter daily amounts)

◦   Support for entities with two payroll frequencies (e.g. bi-weekly and monthly together)

◦   Summary reconciliations for employees to streamline 2020 T4 reporting

◦   Include up to 1,000 employees

Our detailed walkthrough videos show you how to complete every step with confidence.

11 videos totalling about 27 minutes explain each step of the calculation, and how to enter the necessary data correctly: revenues, employees, baseline remuneration, and ongoing payroll data.

Outputs are easy to review, and reconcile to your records to help ensure data correctness.

What you’ll need to start

◦   Payroll information since Mar 2019

◦   Monthly revenues since Jan 2019

◦   Microsoft Excel 2010 (or later)

What your licence includes

◦   Use of TTI’s CEWS worksheet for one entity

◦   Technical support by email*

◦   Updates for future periods

Click here to license a Qualifying Entity ($400)

If you are a preparing CEWS calculations for multiple entities, please click here. All licences are subject to TTI’s Licence AgreementIf you have any product questions, please email sales@taxtemplates.ca before purchasing.

*If you need a tax/legal opinion for your exceptional situation, we’re happy to introduce you to a qualified tax law firm.

TTI helps me show the value of our tax planning strategies to clients.
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David T. Lloyd, CPA, CA

Co-Founder & Chief Wealth Management Officer, Newport Private Wealth