1. Increasing the Canada Child Benefit
“Government of Canada is providing an extra $300 per child through the Canada Child Benefit (CCB) for 2019-20.
This benefit will be delivered as part of the scheduled CCB payment in May.
Those who already receive the Canada Child Benefit do not need to re-apply.”
Learn about Canada Child Benefit or apply
2. Special Goods and Services Tax credit payment
“Government of Canada is providing a one-time special payment by early May through the Goods and Services Tax credit for low- and modest-income families.
The average additional benefit will be close to $400 for single individuals and close to $600 for couples.
There is no need to apply for this payment. If you are eligible, you will get it automatically.”
3. Extra time to file income tax returns
“Government of Canada is deferring the filing due date for the 2019 tax returns of individuals.
For individuals (other than trusts), the return filing due date will be deferred until June 1, 2020.
The Government will also allow any new income tax balances due, or instalments, to be deferred until after August 31, 2020 without incurring interest or penalties.”
Note: If you expect to receive benefits under the Goods and Services Tax credit or the Canada Child Benefit, we encourage you to not delay your 2019 return filing to ensure that your entitlements are properly determined.
4. Mortgage support
“Canadian banks have committed to work with their customers on a case-by-case basis to find solutions to help them manage hardships caused by COVID-19. Canadians who are impacted by COVID-19 and experiencing financial hardship as a result should contact their financial institution regarding flexibility for a mortgage deferral. This allows flexibility to be available − when needed − to those who need it the most.
Contact your financial institution for further mortgage assistance.
The Canada Mortgage and Housing Corporation and other mortgage insurers offer tools to lenders that can assist homeowners who may be experiencing financial difficulty. These include payment deferral, loan re-amortization, capitalization of outstanding interest arrears and other eligible expenses, and special payment arrangements.
Canada’s mortgage insurers are committed to providing homeowners with solutions to mitigate temporary financial hardship related to COVID-19. This includes permitting lenders to defer up to six monthly mortgage payments (interest and principal) for impacted borrowers. Deferred payments are added to the outstanding principal balance and subsequently repaid throughout the life of the mortgage.”
5. Support for people facing unemployment but do not qualify for regular EI
The new Canada Emergency Response Benefit
“We will provide a taxable benefit of $2,000 a month for up to 4 months to:
- workers who must stop working due to COVID19 and do not have access to paid leave or other income support.
- workers who are sick, quarantined, or taking care of someone who is sick with COVID-19.
- working parents who must stay home without pay to care for children that are sick or need additional care because of school and daycare closures.
- workers who still have their employment but are not being paid because there is currently not sufficient work and their employer has asked them not to come to work.
- wage earners and self-employed individuals, including contract workers, who would not otherwise be eligible for Employment Insurance.
Application details will be available through My CRA and My Service Canada, beginning the first week of April.”
CRA: My Account for Individuals My Service Canada Account Learn more
There is a one-time payment of $300 for those who qualify for Old Age Security and an additional $200 for those who qualify for the Guaranteed Income Supplement. There are more details to come on this.
“Reduced minimum withdrawals for Registered Retirement Income Funds
The Government of Canada is reducing the required minimum withdrawals from Registered Retirement Income Funds (RRIFs) by 25% for 2020.”
A moratorium on the repayment of Canada Student Loans.
“Effective March 30, we are placing a six-month interest-free moratorium on the repayment of Canada Student Loans for all student loan borrowers. No payment will be required, and interest will not accrue during this time.
Students do not need to apply for the repayment pause.”
Additionally, the Canada Emergency Student Benefit is open for Applications, with $1250/month for students.
8. Employment opportunities
To help support the response to COVID-19, the Government has set up a jobs bank to help connect workers to employers in the essential services. There are opportunities for essential workplaces posted in our community.
Career opportunities search
There is also a dedicated jobs bank for youth. Starting in May, this site will be updated with additional employment opportunities from the Canada Summer Jobs program.
Youth career search
9. Additional support
For a full list of federal government emergency support programs for individuals: