Video Tax News is pleased to announce the launch of the CEWS 2.0 Estimator.
Created in partnership with our good friends at Punchcard systems and the COVIDcontinuity.com volunteer project, this free tool assists with estimating a business’ Canada Emergency Wage Subsidy for any of Periods 1 through 9.
How is it useful?
Understanding the rules! Play around with various inputs and see the estimated CEWS to confirm your understanding of the rules. An explanatory video and written notes are also provided.
Provide it to your clients! Business owners can use this tool to get a feel for the subsidy, and what it can specifically mean for their business. Most importantly, it highlights risk areas and why they should approach their accountants to maximize the subsidy. Not only is it educational, but is an excellent marketing tool. Consider dedicating staff to deal with the inevitable questions and calculations that will result.
“Quick and dirty” scenario testing! Test the impact of different elections or revenue scenarios. Results are instantaneously recalculated with every field entry.
CEWS 2.0 Estimator is part of Video Tax News’ ongoing volunteer commitment to support clients and Canadian businesses throughout this crisis.
CEWS 2.0 Estimator will evolve as more information/clarification is released. Feedback/comments are welcome, however, due to the large number of users, we may not be able to respond to all communications. Please provide feedback using this form.
Happy calculating!
Update! CPA Canada has also received confirmation from CRA that CRA plans to release a CEWS calculator (considering the changes for periods 5 onwards) and further guidance in an FAQ. No details were provided as to the timing of the launch.
https://www.cpacanada.ca/en/members-area/profession-news/2020/march/cra-covid19-updates