Support for individuals and families
- Increasing the Canada Child Benefit
Implementation Date: May
An extra $300 per child will be provided through the Canada Child Benefit (CCB) for 2019-20. This will mean approximately $550 more for the average family.
Note: Those who already receive the Canada Child Benefit do not need to re-apply. This benefit will be delivered as part of the scheduled CCB payment.
- Special Goods and Services Tax credit payment
Implementation Date: Early May
A one-time special payment will be provided by through the Goods and Services Tax credit for low- and modest-income families.
The average additional benefit will be close to $400 for single individuals and close to $600 for couples.
There is no need to apply for this payment. If you are eligible, you will get it automatically.
- Extra time to file income tax returns
Due date: June 1, 2020.
Note: Any new income tax balances due, or instalments, to be deferred until after August 31, 2020 without incurring interest or penalties.
- Mortgage support
Canadian banks have committed to work with their customers on a case-by-case basis to find solutions to help them manage hardships caused by COVID-19. Canadians who are impacted by COVID-19 and experiencing financial hardship as a result should contact their financial institution regarding flexibility for a mortgage deferral. This allows flexibility to be available − when needed − to those who need it the most.
Canada’s mortgage insurers are committed to providing homeowners with solutions to mitigate temporary financial hardship related to COVID-19. This includes permitting lenders to defer up to six monthly mortgage payments (interest and principal) for impacted borrowers. Deferred payments are added to the outstanding principal balance and subsequently repaid throughout the life of the mortgage. Contact your financial institution for further mortgage assistance.
Support for people facing unemployment, sick, quarantined, or in directed self-isolation
- The new Canada Emergency Response Benefit
Implementation Date: Early April
A taxable benefit of $2,000 a month will be provided for up to 4 months to:
- workers who must stop working due to COVID19 and do not have access to paid leave or other income support.
- workers who are sick, quarantined, or taking care of someone who is sick with COVID-19.
- working parents who must stay home without pay to care for children that are sick or need additional care because of school and daycare closures.
- workers who still have their employment but are not being paid because there is currently not sufficient work and their employer has asked them not to come to work.
- wage earners and self-employed individuals, including contract workers, who would not otherwise be eligible for Employment Insurance.
The Canada Emergency Response Benefit will be accessible through a secure web portal starting in early April. Applicants will also be able to apply via an automated telephone line or via a toll-free number.
(Note: This benefit replaces the previous announced Emergency Care Benefit and the Emergency Support benefit.)
- Apply for Employment Insurance
Implementation Date: Immediate
If you were recently laid off or have reduced hours and qualify for Employment Insurance benefits, you can submit your request today.
- Improved access to Employment Insurance sickness benefits
Implementation Date: Immediate
If you are sick, quarantined or have been directed to self-isolate, we will waive the requirement to provide a medical certificate to access EI sickness benefits.
Support for people who need it most
- A new Indigenous Community Support Fund
$305 million will be provided for a new distinctions-based Indigenous Community Support Fund to address immediate needs in First Nations, Inuit, and Métis Nation communities.
- Enhancing the Reaching Home initiative
We continue to support people experiencing homelessness during the COVID-19 outbreak by providing $157.5 million to the Reaching Home initiative.
The funding could be used for a range of needs such as purchasing beds and physical barriers for social distancing and securing accommodation to reduce overcrowding in shelters.
- Support for women’s shelters and sexual assault centres
$50 million will be provided to women’s shelters and sexual assault centres to help with their capacity to manage or prevent an outbreak in their facilities.
Support for seniors
Reduced minimum withdrawals for Registered Retirement Income Funds (RRIFs) by 25% for 2020.
Support for students and recent graduates
Implementation Date: March 30
A moratorium on the repayment of Canada Student Loans
Effective March 30, Canada will be placing a six-month interest-free moratorium on the repayment of Canada Student Loans for all student loan borrowers. No payment will be required and interest will not accrue during this time.
Students do not need to apply for the repayment pause.