these options for CEWS periods ended in October, November and December, 2020

Periods 11-13 revenue decline calculation
While the top-up subsidy will benefit from an increased multiplier of 1.75 (1.25 previously) and increased maximum of 35% (previously 25%), there is a slight difference in the way the revenue decline percentage will be calculated. For periods 8-10, the greatest decline of three calculations applied:

  1. current month revenue over the same month of the prior year;
  2. the immediately prior period’s current month revenue over the same month of the prior year; and
  3. average monthly revenue of the immediately prior three months over the same months of the prior year.

increased top-up multiplier, but no 3-month comparison option

Possibility c) will no longer be available for periods 11 onwards. The alternative method, which uses the average monthly revenue for January and February of 2020 for the prior reference period continues to apply if previously elected for periods 5 and subsequent.

periods 1-5 close on January 31, 2021

As discussed in VTN 471(2), applications for CEWS are due by the later of 180 days after the end of the claim period and January 31, 2021. This means that the final deadline for periods 1-5 is January 31, 2021. Consider reviewing all potential claim applications before a claim can no longer be made. This is also the final deadline to amend or make elections for those periods. Some elections affect multiple periods, such as the cash basis decline method selection, and the use of January and February’s average monthly revenue as a prior period reference. The choice used in period 5 will be locked in for the remaining claim periods (period 6 onwards) after this deadline changes.

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