Below is a list of links for relief measures for Canadians:
GOVERNMENT OF CANADA
https://www.canada.ca/en/department-finance/economic-response-plan.html
- An extra $300 per child through Canada Child Benefit (CCB), starting May 2020 payment
- One-time special GST payment of $400 per individual and $600 per couple for low and modest income families
- Deferring income tax filing due date until June 1, 2020
- Deferring GST/HST payments until June for all businesses, including self-employed individuals
- Any new income tax balances due, or instalments, deferred until August 31, 2020 without incurring interest or penalties
- CERBwill be accessible on MyAccount through the CRA web portal in early April, choose direct deposit for faster access to funds
- EI benefits
- EI sick benefits which waives a medical certificate
- For seniors – reducing required minimum withdrawals from RRSPs by 25%
- Canada Student Loans – no payment for 6 months, no interest will accrue
GOVERNMENT OF ONTARIO
https://news.ontario.ca/mof/en/2020/03/ontarios-action-plan-responding-to-covid-19.html
- One-time payment of $200 per child, up to 12 years of age
- One-time payment of $250 per child, with special needs
- Setting electricity prices at the lowest rate, aka off-peak price, 24 hours/day for 45 days
- Expanding eligibility for low-income Energy Assistance Program (LEAP)
- Expanding access to the emergency assistance program through Ontario Works
- Six months of Ontario Student Assistance Program (OSAP) loan & interest accrual relief
- 5 months of interest & penalty relief for businesses to file & pay majority of provincial taxes
CITY OF TORONTO
https://www.toronto.ca/home/covid-19/economic-support-recovery/economic-support-recovery-for-individuals-families/
- Suspension of all automated withdrawals for the next 60 days
- All post-dated cheques will be held and not cashed for 60 days
- Extension of property taxes payable for 60 days, ie April 1stpayments will be due June 1st
- Late payment penalties will be waived for 60 days
- Extension of all utility bills by an additional 60 days
- All property owners are strongly urged to help tenants stay in their homes
- Toronto Hydro will be charged at off-peak rates for 45 days as of March 24, 2020
- BMO, CIBC, National Bank of Canada, RBC Royal Bank, Scotiabank and TD have committed to provide flexible solutions including 6-month deferral for mortgages and relief on credit products. Please contact your bank directly to discuss options.
