Programs Available for Individuals

This information is sourced directly from the Canadian Government's website Canada.ca along with information generously shared by experts from both the public and private sector.

Support for people facing Unemployment and those who are Sick, Quarantined, in Directed Self Isolation and for those unable to work.

If you have stopped working because of COVID-19, the Canada Emergency Response Benefit (CERB) may provide you with temporary income support. The CERB provides $500 a week for up to 16 weeks.

Who is eligible

The Benefit is available to workers:

Residing in Canada, who are at least 15 years old;

Who have stopped working because of reasons related to COVID-19 or are eligible for Employment Insurance regular or sickness benefits or have exhausted their Employment Insurance regular benefits between December 29, 2019 and October 3, 2020;

Who had employment and/or self-employment income of at least $5,000 in 2019 or in the 12 months prior to the date of their application; and,

Who have not quit their job voluntarily.

When submitting your first claim, you cannot have earned more than $1,000 in employment and/or self-employment income for 14 or more consecutive days within the four-week benefit period of your claim.

When submitting subsequent claims, you cannot have earned more than $1,000 in employment and/or self-employment income for the entire four-week benefit period of your new claim.

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Increasing the Canada Child Benefit

The federal government is providing an extra $300 per child through the Canada Child Benefit (CCB) for 2019-20. This will mean approximately $550 more for the average family. This benefit will be delivered as part of the scheduled CCB payment in May.

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Special Goods and Services Tax credit payment

The federal government 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.‍

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Extra time to file income tax returns

The federal government 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.  We will also allow any new income tax balances due, or installments, to be deferred until after August 31, 2020, without incurring interest or penalties.

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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.

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Suspending audit activities and collection of new debt

CRA will not initiate contact with taxpayers for audits, with certain exceptions. This includes:  

​no new audits being launched;

no requests for information related to existing audits; and

no audits should be finalized and no reassessments should be issued.

Collections activities on new debts will be suspended until further notice, and flexible payment arrangements will be available.

Federal Government Information

This information is sourced directly from the Canadian Government's website Canada.ca along with information generously shared by experts from both the public and private sector.

Deferral of Sales Tax Remittance and Customs Duty Payments

GST/HST Remittance Deferral‍

Vendors with annual sales of more than $6 million remit and report monthly, and those with annual sales of $1.5 million to $6 million are able to remit and report on a quarterly basis (or monthly if they choose to). Small vendors can report annually.

To support Canadian businesses in the current extraordinary circumstances, the Minister of National Revenue will extend until June 30, 2020 the time that:

Monthly filers have to remit amounts collected for the February, March and April 2020 reporting periods;

Quarterly filers have to remit amounts collected for the January 1, 2020 through March 31, 2020 reporting period; and

Annual filers, whose GST/HST return or instalment are due in March, April or May 2020, have to remit amounts collected and owing for their previous fiscal year and instalments of GST/HST in respect of the filer’s current fiscal year.

Businesses in need of information about their particular obligations may contact the Canada Revenue Agency or refer to its website.

Deferral of Customs Duty and Sales Tax for Importers

Imported goods by businesses are generally subject to the GST, at a rate of 5 per cent, as well as applicable customs duties, which vary by product and country of origin. While the vast majority of imports enter Canada duty-free, some tariffs remain, especially on consumer goods.

Typically, payments owing for customs duties and the GST on imports are due before the first day of the month following the month in which the Statements of Accounts are issued.

Under this authority, payment deadlines for statements of accounts for March, April, and May are being deferred to June 30, 2020.

Businesses in need of information about their particular accounting and payment obligations on imported goods may contact the Canada Border Services Agency for more details.

New Loan Programs for Businesses

Canada Emergency Business Account

To ensure that small businesses have access to the capital they need to see them through the current challenges, the Government of Canada is announcing the launch of the new Canada Emergency Business Account.

This $25 billion program will provide interest-free loans of up to $40,000 to small businesses and not-for-profits, to help cover their operating costs during a period where their revenues have been temporarily reduced, due to the economic impacts of the COVID-19 virus.

To qualify, these organizations will need to demonstrate they paid between $50,000 to $1 million in total payroll in 2019. Repaying the balance of the loan on or before December 31, 2022 will result in loan forgiveness of 25 percent (up to $10,000).

LOAN APPLICATIONS OPENED APRIL 9, 2020 THROUGH YOUR BUSINESS ONLINE BANKING PORTAL AT YOUR MAIN BANK.

A New Co-Lending Program for Small and Medium Enterprises

To provide additional liquidity support for Canadian businesses, the Co-Lending Program will bring the Business Development Bank of Canada (BDC) together with financial institutions to co-lend term loans to SMEs for their operational cash flow requirements.Eligible businesses may obtain incremental credit amounts up to $6.25 million BDC’s portion of this program is up to $5 million maximum per loan. Eligible financial institutions will conduct the underwriting and manage the interface with their customers. The potential for lending for this program will be $20 billion.

Provincial Government Information

This information is sourced directly from the Ontario Provincial Government's website Budget.Ontario.ca and WSIB.ca.

WSIB

The financial relief package allows businesses to defer premium reporting and payments until August 31, 2020. Businesses who report and pay monthly, quarterly or annually based on their insurable earnings are eligible for this deferral.

No interest will accrue on outstanding premium payments and no penalties will be charged during this six-month deferral period.

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Ontario’s Action Plan: Responding to COVID‑19

Direct supports for the health care system, people, families, workers and employers

Ontario’s Action Plan: Responding to COVID‑19 outlines the first steps in the Province’s plan to tackle the COVID‑19 outbreak. The action plan will provide $7 billion in additional resources for the health care system and will provide direct support for people, and jobs. This includes $3.3 billion in additional health care resources, $3.7 billion to support people and jobs, and measures that will make available up to $10 billion in support for people and businesses through tax and other deferrals to improve their cash flows, helping protect jobs and household budgets.

$3.3 billion of additional resources for health care, including:

$2.1 billion in new measures to support the COVID‑19 response with:

A dedicated $1 billion COVID‑19 contingency fund;

$341 million for hospital capacity to increase assessments and treatment;

$243 million for long-term care home emergency capacity and virus containment measures;

$100 million more for public health;

$170 million for community capacity, homecare and Telehealth Ontario;

$62 million for health care workers in assessment centres, hospitals and the community;

$75 million for personal protective equipment and critical medical supplies;

Approximately $80 million for ambulance and paramedic services; and

Approximately $70 million for infection control measures in retirement homes, residential facilities and emergency shelters.

An additional $1.2 billion to meet demand for services in the health and long-term care sector.

$3.7 billion to support people and jobs, including:

$75 million in urgent additional support for 194,000 low-income seniors by proposing to double the Guaranteed Annual Income System (GAINS) maximum payment to $166 per month for individuals and $332 per month for couples for six months, starting in April 2020;

Helping families pay for extra costs associated with school and daycare closure during the COVID‑19 outbreak by providing a one-time $200 payment per child up to 12 years of age, and $250 for those with special needs, including kids enrolled in private schools;

Providing six months of Ontario Student Assistance Program (OSAP) loan and interest accrual relief for student borrowers, in partnership with the federal government;

Providing new, additional support of $26 million to Indigenous peoples and communities, including emergency assistance for urban Indigenous people in financial need and costs for health care professionals and critical supplies to reach remote First Nations;

$200 million in new funding to provide temporary emergency supports for people in financial need as well as funding to municipalities and other service providers so they can quickly respond to local needs;

Making electricity bills more affordable for eligible residential, farm and small business consumers through a $1.5 billion increase in electricity cost relief compared to the 2019 Budget. In addition, the Province is also setting electricity prices for time-of-use customers at the lowest rate, known as the off-peak price, 24 hours a day for 45 days, to support ratepayers in their increased daytime electricity usage as they respond to the COVID‑19 outbreak, addressing concerns about time-of-use metering;

$9 million in direct support to families for their energy bills by expanding eligibility for the Low‑income Energy Assistance Program (LEAP) and ensuring that their electricity and natural gas services are not disconnected for nonpayment during the COVID‑19 outbreak;

Cutting taxes by $355 million for about 57,000 employers through a proposed temporary increase to the Employer Health Tax (EHT) exemption;

Helping to support regions that have been lagging in employment growth with a proposed new Corporate Income Tax credit — the Regional Opportunities Investment Tax Credit; and

Supporting the timely delivery of critical food and supplies by amending a regulation that restricted delivery trucks from operating during off-peak hours.

$10 billion in support for people and businesses to improve cash flows by:

Providing a five-month interest and penalty-free period to make payments for the majority of provincially administered taxes, providing $6 billion in relief to help support Ontario businesses when they need it the most

Deferring the upcoming quarterly (June 30) remittance of education property tax to school boards by 90 days. This will provide municipalities with the flexibility to, in turn, provide property tax deferrals of over $1.8 billion to local residents and businesses while ensuring school boards receive their funding.

Providing up to $1.9 billion in financial relief by the Workplace Safety and Insurance Board (WSIB) allowing employers to defer payments for up to six months

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