Feds gave $145M in wage subsidies to companies that declared bankruptcy
Nearly half of recipients were in tax debt, owing $25M in taxes before getting COVID salary supports.
The information comes from an inquiry of the Canada Revenue Agency (CRA) posed by Conservative MP Anna Roberts of the riding of King—Vaughan:
Based on the information available to the CRA, of the 446,871 employers who received payments under the Canada Emergency Wage Subsidy (CEWS), 750 employers (0.16%) have subsequently filed for bankruptcy proceedings.
For the 750 bankrupt employers identified as accessing the CEWS program over the course of the pandemic, 352 owed back taxes to the CRA when they were sent the payments.
The total amount of back taxes owed by the 352 employers accessing CEWS was $25,926,888.04.
The CRA opened a snitch line in June 2020 to allow people to turn in those suspected of CEWS, CERB, and CESB relief fraud.
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