If the shareholder receives remuneration by way of a credit to their shareholder loan, is that "eligible remuneration" for CEWS?

If the shareholder/employee receives remuneration by way of a credit to their shareholder loan, is that "eligible remuneration" for CEWS?

CRA says "NO". This is going to be a serious issue for many owners of incorporated small businesses. I also can't see how this differs from a bank paying all of its employees by direct deposit to their accounts with that bank.

Hmmm...and what about the source deductions? Those don't get "paid to" any employee, so the owner-manager source deductions seem like they should be just as "eligible" as source deductions for non-owner employees.

Source: CRA Technical Interpretation 2020-0865791I7, released yesterday https://lnkd.in/gMydX9c

Big thank you to Hugh Neilson FCPA FCA TEP for this posting on Linked IN!