Relief for Individuals

Relief for Individuals

*As of April 8, 2020

One Time Payments

One Time Payments

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Application Process

Special GST Credit payment

A one-time payment through the GST credit will be made on April 9.

Amount will double the maximum annual GST credit, resulting in an average payment for those benefitting by close to $400 for single individuals and close to $600 for couples. Some whose income was too high to qualify for regular payments will be eligible for this one-time payment.

No need to apply - based on tax returns filed for 2018.

Special Canada Child Benefit (CCB) payment

An additional one-time payment in May under the CCB program.

$300 per child for those currently receiving CCB payments. A reduced amount may be available to those whose income is too high to receive regular CCB payment.

No need to apply - based on tax returns filed for 2018.

Tax Deferrals

Tax Deferral

Description

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Application Process

Deferral of personal income tax

Income tax amounts that become due on or after March 18, 2020 (also including instalments) and before September 2020 are deferred to September 1, 2020. No interest will accumulate on these amounts during this period.

Variable based on income tax outstanding.

No need to apply - done automatically.

Support for Lost Income

Support for Lost Income

Description

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Application Process

Employment insurance (EI) sickness benefit

EI regular or sickness benefits are still available. The one-week waiting period for EI sickness has been waived for claimants who have been quarantined, as has the requirement to provide a medical certificate.

Unchanged from the past. If eligible for both EI and CERB, CERB will be paid first (regardless of whether it is higher or lower than EI) for the respective period. If still eligible for EI at the end of the CERB eligibility period, EI will be available as normal.

Applications for EI regular or sickness benefits for periods commencing on or after March 15 are being processed through CERB.

Canada Emergency Response Benefit (CERB)
Click here for more info

A taxable benefit for eligible workers who have lost their income due to COVID-19. Do not apply for CERB if you have already applied for EI.

$2,000/4 week period for up to 4 periods (16 weeks). Benefit is available from March 15 to October 3, 2020, divided into 7 periods.

Online through CRA's My Account portal or by automated phone service (1-800-959-2019 or 1-800-959-2041 if you have filed a tax return in the past) or call 1-800-959-8281, CRA's Enquiries Line, if you have never filed a tax return).

Other Support

Other Support

Description

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Application Process

Mortgage support
Click here for more info

Case-by-case support to assist with mortgage payments, including the possibility to defer up to six monthly mortgage payments (interest and penalty).

Variable based on outstanding mortgage.

Contact your lending institution.

Emergency Loan Program for Canadians Abroad

An emergency repayable loan to Canadians abroad in need of immediate financial assistance to return home or to temporarily cover their life-sustaining needs while they work toward their return.

Up to $5,000.

Click here, call Global Affairs Canada’s 24/7 Emergency Watch and Response Centre in Ottawa at +1 613-996-8885 (collect calls are accepted where available), or email sos@international.gc.ca.

Student loans

Loan repayments and interest under the Canada Student Act, Canada Student Financial Assistance Act, and Apprentice Loans Act are suspended until September 30, 2020.

Variable based on outstanding loan.

No need to apply - done automatically. Borrowers should check with their provincial or territorial student loan provider to see if payment is required on the provincial or territorial portion.

Minimum RRIF withdrawal

The minimum withdrawal from a RRIF or a money purchase pension plan for 2020 (computed as a percentage of its value on January 1, 2020) will be reduced by 25%.

Tax on 25% reduction deferred until funds are withdrawn in the future.

Contact your financial institution for process to reduce withdrawals.