Canadas COVID-19 Economic Response Plan

It can be overwhelming to determine what you can apply for and where to start. Here’s Canada’s COVID-19 Economic Response Plan with links to applications and further information.

Support for individuals and families

• Increasing the Canada Child Benefit
• Special Goods and Services Tax credit payment
• Extra time to file income tax returns
• Mortgage support

Support for people facing unemployment

• The new Canada Emergency Response Benefit (CERB)
• Apply for Employment Insurance

Support for people who are sick, quarantined, or in directed self-isolation

• The new Canada Emergency Response Benefit (CERB)
• Improved access to Employment Insurance sickness benefits

Support for people who are unable to work

• The new Canada Emergency Response Benefit (CERB)

Support for people who need it most

• A new Indigenous Community Support Fund
• Enhancing the Reaching Home initiative
• Support for women’s shelters and sexual assault centres

Support for seniors

• Reduced minimum withdrawals for Registered Retirement Income Funds
• Practical services: delivery of items and personal outreach

Support for students and recent graduates

• A moratorium on the repayment of Canada Student Loans

Support for youth

• Mental health support

Support to businesses

Avoiding layoffs

• Extending the Work-Sharing program
• The Canada Emergency Wage Subsidy

Access to credit

• Establishing a Business Credit Availability Program

Support for farmers

• Increasing credit available

Supporting financial stability

• Launching an Insured Mortgage Purchase Program
• Bank of Canada actions
• Lowering the Domestic Stability Buffer

More flexibility

• More time to pay income taxes
• Deferral of Sales Tax Remittance and Customs Duty Payments

If you are facing financial hardship due to COVID-19 there are resources available to you. If you are still having trouble determining what those resources are in your specific circumstance, please don’t hesitate to reach out to me for help: 604 808 3797