Canada's COVID-19 Economic Response Plan
March 25, 2020
I understand that the circumstances of COVID-19 have left many Canadians feeling uncertain or anxious about the future. I'm so sorry to hear that you are experiencing hardship in these challenging times.
Recently, an economic stimulus package that will directly support Canadians was announced. It has been approved by the House of Commons. Some of the supports in this package which may be of interest to you include:
* The Canada Emergency Response Benefit will provide $2,000 a month, for the next 4 months, for workers who lose their income as a result of COVID-19.
This will replace the two benefits we announced last week – the Emergency Care Benefit and the Emergency Support Benefit – to streamline the process.
* Waiving the one-week waiting period for those individuals in imposed quarantine that claim EI sickness benefits. (Effective as of March 15).
* The CRA will provide increased flexibility to taxpayers by deferring the payment of income taxes until after August 31.
* For over 12 million low and modest income families, who may require additional help with their finances the Government will provide a one-time special payment by early May through the Goods and Services Tax Credit (GSTC), which will double themaximum GSTC payment amounts for the 2019-20 benefit year. This will mean, on average, an additional $400 for single individuals and near $600 for couples.
This is not an exhaustive list of supports provided by the Government. For more information on supports that will be available to you, including benefit descriptions, eligibility, application processes, and timelines I encourage you to click here:
Click here where you will find frequently asked questions that we have recieved thus far. Please reach out to us if you have other questions.
As the circumstances of COVID-19 evolve, the Government's response will too. I can assure you that the Federal Government will continue to work closely with all levels of government to provide the necessary support to Canadians through this very difficult time.
Please share this information with your network and follow our website and social media channels closely for the most recent and up to date information.
Please don't hesitate to reach out should you have any further questions or there is any other way I can be of assistance during this time.