When a crisis hits, you want to be living in a place where you can be supported. Luckily, the Canadian Government has taken some relief measures in order to assist Canada’s residents and citizens.
These are just some of the relief measures that have taken by the Canadian Government to assist its citizens and residents.
- 1. Canada is providing up to an extra $300 per child through Canada Child Benefit for 2019-2020.
- 2. Providing one-time special payment starting April 9 through the Goods and Services Tax Credit for low- and modest-income families. Average additional benefit will be close to $400 for single individuals and up to $600 for couples.
- 3. Filing due date for 2019 income tax returns for individuals has been deferred until June 1, 2020.
- 4. Canada will provide a taxable benefit of $2000 a month for up to 4 months to eligible workers who have lost their income due to COVID-19 (either Sick, Quarantined, unable to work). The benefit is available for the period from March 15, 2020 to October 3, 2020.
- 5. Providing $305 million for Indigenous Community Support Fund to address immediate needs in First Nation, Inuit, and Metis Nation Communities.
- 6. Providing $2.6 million to help Indigenous families who are choosing to stay on the land
- 7. Providing $100 million to support a range of federal health measures.
- 8. Support people experiencing homelessness, by providing $157.5 million to the Reaching Home initiative.
- 9. Supporting Women and children fleeing violence, by providing up to $50 million
- 10. Giving $7.5 million in funding to Kids Help Phone to provide young people with the mental health support
- 11. Contributing $9 million through United Way Canada for local organizations to support practical services to Canadian seniors.
- 12. All student loan borrowers will automatically have their loan repayments and interest suspended until September 30, 2020.
- 13. Proposed Emergency Wage Subsidy would cover 75 per cent of salaries for qualifying businesses, for up to 3 months, retroactive to March 15, 2020.
- 14. Extending the Work Sharing program from 38 weeks to 76 weeks for employers affected by COVID-19.
- 15. Allowing all businesses to defer, until after August 31, 2020, the payment of any income tax amounts that become owing on or after March 18, and before September 2020.
- 16. Allowing businesses including self-employed to defer, until June 30, 2020 payments of the GST/HST, as well as custom duty owing on their imports.
- 17. Established a Business Credit Availability Program to Provide $40 billion of additional support through the business Development Bank of Canada and Export Development Canada.
- 18. The new Canada Emergency Business Account will provide interest-free loans of up to $40,000 to small businesses and not for profits, to help cover their operating costs