Relief Measures for Canadians

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

BANKS
https://www.canada.ca/en/department-finance/news/2020/03/canadas-covid-19-economic-response-plan-support-for-canadians-and-businesses.html#Role_of_Financial

  • 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.