COVID-19: Tax and economic assistance for individuals
Summary
COVID-19: Tax and economic assistance for individuals*
You will find on this page all the details related to these measures, as well as hyperlinks to the yes for organizations concerned. We remain on the lookout for government announcements in order to continue making regular updates and keep you informed about the new measures.
* This document is subject to change as governments and public bodies make new announcements
Last updated May 3rd, 2022
FEDERAL
Canada Worker Lockdown Benefit (CWLB)
PROVINCIAL (Québec)
PROVINCIAL (Ontario)
OTHER FINANCIAL SUPPORT MEASURES
FEDERAL
Employment Insurance program
The Employment Insurance program has undergone temporary changes. For claims made on or before September 24, 2022, only 420 hours of insurable employment need be demonstrated in order to receive a benefit.
To find out more, click here.
Canada Recovery Benefits
These programs ended on May 7. It is possible to apply for the last available period until July 6th.
The government of Canada provides measures to support Canadian and protect jobs during the current global pandemic. The Canada Recovery Benefit (CRB) ended on October 23, 2021. Claims can still be submitted up to 60 days following the end of a period. For more information, click here.
The federal government has extended two benefits, the Canada Recovery Sickness Benefit (CRSB) and the Canada Recovery Caregiving Benefit (CRCB). These two programs are intended for individuals directly affected by a COVID-19 infection. For more details:
Canada Worker Lockdown Benefit (CWLB)
The CWLB ended on May 7. It is possible to apply for the last available period until July 6th.
The Canada Worker Lockdown Benefit (CWLB) is designed to provide income support for employees and self-employed persons who are unable to work due to a COVID-19 containment.
This assistance is only available for areas designated by a COVID-19 lockdown order. If eligible, the worker could receive $300 ($270 after tax withholdings) per week.
Applications can be filed for the period from October 24, 2021 to May 7, 2022.
For more information, click here.
EI Work-Sharing Program
These benefits are for workers who agree to a reduced schedule of work due to new circumstances beyond the control of their employer.
The measures extend the maximum duration of Work-Sharing agreements from 38 weeks to 76 weeks and provide for relaxed eligibility conditions and a streamlined application process.
For more info, click here.
Mortgage payment deferral
The COVID-19, or coronavirus crisis has left many homeowners in Canada without a job or with reduced hours and wondering how to pay their mortgage. Homeowners facing financial stress may be eligible for a mortgage payment deferral up to 6 months to help ease the financial burden.
The COVID-19 Mortgage Payment Deferral program will be ongoing. You can apply at any time during this outbreak.
For more info, click here.
Student aid
- Student aid enhanced until 2023;
- Up to $6,000 in grants for full-time students and $3,600 for part-time students;
- Canadian student grants are doubled for students with dependents or who have a permanent disability;
- Interest is suspended on Canada Student Loans and Canada Apprentice Loans until March 31, 2023;
- Under the Repayment Assistance Program and the Repayment Assistance Plan for Borrowers with a Permanent Disability (RAP-PD), monthly payments may be lowered or eliminated.
Find out more by clicking here.
PROVINCIAL (Québec)
Tax – Payment agreements
If you are unable to pay your debt in a lump sum because of your financial situation, Quebec government may be able to reach a payment agreement. This will allow you to spread your payments out over time, based on your ability to pay, until your debt (and interest) is paid in full.
There are a number of ways to propose a payment agreement, depending on whether you are an individual, an individual in business or a business.
For more details, click here.
PROVINCIAL (Ontario)
Support for people
The Ontario government provides a series of financial measures to support people dealing with COVID-19. In particular, the following support is available:
- COVID-19 emergency aid up to $733 per month for a single individual and more for an individual with children;
- Up to $600 in assistance to help with electricity bills.
Click here to find out more.
OTHER FINANCIAL SUPPORT MEASURES
Canada’s Six Biggest Banks Take Decisive Action to Help Customers Impacted by COVID-19.
Bank of Montreal, CIBC, National Bank of Canada, RBC Royal Bank, Scotiabank and TD Bank have made a commitment to work with personal and small business banking customers on a case-by-case basis to provide flexible solutions to help them manage through challenges such as pay disruption, childcare disruption due to school closures; or those facing illness from COVID-19.
This support will include up to a six-month payment deferral for mortgages, and the opportunity for relief on other credit products.
- Read about BMO’s measures;
- Read about Scotiabank’s measures;
- Read about TD Bank’s measures;
- Read about CIBC’s measures.
Hydro-Québec measures
Hydro-Quebec will not cut off power due to non-payment.
If you expect to have trouble paying your bill, you can make a payment arrangement online, in your Customer Space, or by phone. This may allow you to benefit from the administration fee waiver.
Click here to find out more.
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