If you have claimed (or plan to claim) the Temporary Wage Subsidy for Employers (TWSE) or the Canada Emergency Wage Subsidy (CEWS) this pertains to you:
The Canada Revenue Agency (“CRA”) has recently released additional information relating to a mandatory filing for employers that have claimed or plan to claim the TWSE or the CEWS. ‘Form PD27 – 10% Temporary Wage Subsidy Self-Identification Form for Employers’ is required to be filed with the CRA by December 31, 2020.
The purpose of the form is as follows:
- To reconcile the TWSE previously claimed to your payroll records;
- To declare that CEWS was claimed in lieu of some or all of the available TWSE; and
- For employers that still haven’t claimed the TWSE, or haven’t claimed the full amount available, this form will allow them to access that benefit.
The form should be carefully prepared and reviewed as an error may lead to an overpayment or underpayment of benefits. Overpayments could incur interest or penalties.
For additional information and how to file Form PD27, please refer to https://www.canada.ca/en/revenue-agency/services/subsidy/temporary-wage-subsidy/tws-reporting.html