Federal Resources during COVID-19
We will try to update this post as we receive new information.
***Register for a My Service Canada Account (MSCA). This will make things easier in the event you need to access either EI, CERB or other supports.***
-Sign up for a GCKey (allows you to access various federal sites).
For Individuals:
-Employment Insurance (EI)
-Regular benefits: If you are not eligible you may apply to CERB.
-Sickness benefits: One week waiting period to be waived.
-Canada Emergency Response Benefit (CERB) –Covers workers, small business owners and entrepreneurs who are not receiving a paycheque as a result of COVID-19.
-Applications targeted to start April 6th.
-Open an account on Service Canada with Canada Revenue Agency (CRA) BEFORE Monday the 6th
-$2,000 a month for up to four months.
-Canada Child Benefit (CCB) – Financial assistance for parents with children under 18 years of age
-$300 additional per child
-Jordan’s Principle / Inuit Child First Initiative – Financial assistance for parents with Indigenous children under 18 years of age
-Please contact our office for details and a support letter
-Public Pensions (Canada Pension Plan and Old Age Security) – Benefits for seniors, people with disabilities and other needs
-Apply online through your My Service Canada account.
-Multiple changes to application requirements, etc. to make it easier.
-Defer tax payments until August 31st, 2020
-Tax filling can be deferred until June 1st, 2020
-Debt collection suspended.
-Tax Payer Relief: Request cancellation of a penalty if you are unable to pay.
-Canada Student Loans – All payments and interest suspended
-Mental Health Commission – Resource hub for mental wellness during COVID-19
For Businesses:
-Employment Insurance (EI)
-Regular benefits: Prepare your staff to apply for EI, if they are not eligible they may apply to CERB.
-Benefits for self-employed: You can only access this if you have already paid into EI.
-Work-Sharing: Federal government helps pay your employees. Must apply 30 days in advance to the planned workshare.
-Extended work-share periods up to 76 weeks
-Canada Emergency Response Benefit (CERB) –Covers workers, small business owners and entrepreneurs who are not receiving a paycheque as a result of COVID-19.
-Will become available April 6th.
-$2,000 a month for up to four months.
-Wage Subsidy – Originally listed as 10% will increase to at least 75%
-Allows you to maintain your staff with less cost
-Deducted from your tax remittance
-Canadian Northern Economic Development Agency (CanNor) – Support for tourism operators and small or medium sized businesses who have previously received funding.
-Contact their office for guidance. -Potential access to additional funding.
-Business Credit Availability Program (BCAP)
-Business Development Canada: Working capital loans up to $2 million
-Flexible repayment terms.
-Reduced rates.
-Co-lending programs for small and medium enterprises.
-Business Credit Availability Program (BCAP) Guarantee: Through various financial institutions. -Credit Insurance
-Canada Emergency Business Account: interest free loans up to $40,000
-Up to $10,000 can be non-repayable, under certain conditions.
-Details available Monday, March 30th
-Defer tax payments until August 31st, 2020
-Tax filling can be deferred until June 1st, 2020
-Debt collection suspended.
-Tax Payer Relief: Request cancellation of a penalty if you are unable to pay.
-Tax and Duty Deferrals
-GST/HST Remittance Deferral
-Deferral of Customs Duty and Sales Tax for Importers
For more information please go to: https://www.canada.ca/en/revenue-agency/campaigns/covid-19-update.html
Other Resources
-Force Majeure: If your business pays rent and you are unable to pay it, consider calling a lawyer about invoking a force majeur. This does not mean you have to break your contract.
-How to Access EI document: A step by step guide developed to help individuals understand the EI application process.