We’ve launched a simple way to receive your Canada Revenue Agency (CRA) benefits, including the Canada Emergency Wage Subsidy (CEWS), through direct deposit right from business online banking!
What is the Canada Emergency Wage Subsidy (CEWS)?
The Canada Emergency Wage Subsidy (CEWS) is a Government of Canada wage subsidy program for employers adversely impacted by COVID-19, enabling the re-hire of workers previously laid off as a result of COVID-19 and prevent further job losses. As a Canadian employer, you may be eligible for a subsidy of 75% of employee wages for up to 24 weeks, retroactive from March 15, 2020 to August 29, 2020.
If you are planning to apply for CEWS, we encourage you to enroll your business for direct deposit with the CRA.
We’ve made it easy to set up CRA direct deposit through online banking in a few simple steps — just select 'CRA Direct Deposit for businesses (CEWS)’ from Account Services. This is a quick and secure way to receive the CEWS payment as well as your other CRA payments including refund of payroll deductions. Alternatively, you may still sign up for direct deposit directly through the CRA website.
Visit our FAQs for more information on current financial relief measures, as well as other frequently asked questions.