There are emergency Funds for COVID-19 (coronavirus) and the news is developing daily, but here are some highlights that the federal government has already put forth.

  • GST credit – $400 single adults – $600 for couples
  • Child Tax benefit Top up – $300 per child added on top of
    what you receive already.
  • Student loan payments deferred
    -6-month timeframe
    -no payments
    -no interest accrual
  • Indigenous community-based support fund
    -$305 million
  • $200 million provided for community resources
    -Shelters/homeless needs
    -Sexual assault/transition homes
  • 10% wage subsidy for small-medium sized businesses for employees.
    -$25,000 per employer
  • Ensured Mortgage Protection Program
    -50 billion provided
    -payment deferrals
    -special payment arrangements
  • Bank Supports
    -auto loans – deferral of payments possible
    -contact bank directly
    -speak to your institutions
  • Personal Income Tax
    -payment before September. 1st/2020 – extended deadline for income tax payments owed
    -Filing deadline for Income Tax – June.1st/2020
  • Emergency Care Benefit
    -Quarantined or caring for a sick family member
    -Providing $900 bi-weekly
    -Payment via direct deposit
    -Will not require medical documentation
    -Starting early April
  • Emergency support fund – $5 Billion
    -more info to come
  • Supply chains from groceries will maintain fair prices for Canadians

Learn more and apply here: https://www.canada.ca/en/department-finance/economic-response-plan.html

Feature Image – Getty Images

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