COVID-19 – Supports for Individuals

TAX DEADLINES & PAYMENTS
Personal Tax Filing Deadlines: The filing due date for 2019 income tax returns for individuals has been deferred until June 1, 2020. Click here for more information: https://www.canada.ca/en/revenue-agency/campaigns/covid-19-update/covid-19-filing-payment-dates.html

Tax Payments Due: Any new income tax balances due, or instalments, are also being deferred until after August 31, 2020 without incurring interest or penalties.

PAYMENT DEFERRALS
Mortgage Payment Deferrals: 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. This includes permitting lenders to defer up to six monthly mortgage payments (interest and principal) for impacted borrowers. Please speak with your current financial institution or mortgage broker for further information.

Education Property Tax: Education property tax rates will be frozen at last year’s level reversing the increase originally added in Budget 2020.

Utility Payments: Residential customers can defer electricity and natural gas payments for the next 90 days to ensure no one will be cut off, regardless of their service provider. The program is available to Alberta companies who are experiencing financial hardship as a direct result of COVID-19. Call your utility provider directly to arrange for a 90-day deferral on all payments.

OTHER SUPPORTS AVAILABLE
Increasing the Canada Child Benefit (CCB): An extra $300 per child through the Canada Child Benefit (CCB) for 2019-20; this will mean approximately $550 more for the average family. You don’t need to apply, those the CCB do not need to re-apply and they will see this benefit on their May CCB deposits. Click here for more information: https://www.canada.ca/en/department-finance/economic-response-plan.html#businesses

Special GST credit payment: This is a one-time special payment starting April 9 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, if you are eligible, you will get it automatically on your GST payments starting April 9th, 2020. Click here for more information: https://www.canada.ca/en/department-finance/economic-response-plan.html#businesses

Student Loan Relief : All student loan borrowers will automatically have their federal student loan repayments and interest suspended until September 30, 2020. Click here for more information: https://www.canada.ca/en/department-finance/economic-response-plan.html#businesses

Blog posts about COVID-19 – Supports for Individuals

Mar 2 2021
CRA Offers Interest Relief on COVID Benefits

The Canada Revenue Agency (CRA) recently announced that they are offering relief on the interest charged on certain COVID benefits.  Who is Eligible? You need to check ALL of the following criteria in order to be eligible: Your total 2020 taxable income was $75,000 or lessYou received at least one of the

Feb 23 2021
Certain COVID-19 Benefits are Being Extended

Due to the continued effect of COVID-19 on jobs and businesses, the following benefits are being extended: Canada Recovery Benefit (CRB) – extended by 12 weeks, from 26 weeks to up to 38 weeksCanada Recovery Caregiving Benefit (CRCB) – extended by 12 weeks, from 26 weeks to up to 38 weeksCanada Recovery Sickness Benefit

Feb 18 2021
New Critical Worker Benefit for Albertans

The Critical Worker Benefit will bring much needed relief to eligible workers across the province, providing a one-time payment of $1,200 to eligible critical care workers in recognition of their hard work to provide Albertans with the care and services they need. Applications for the private sector will open on Wednesday, February 17

Feb 8 2021
T2200 Forms and COVID-19

A T2200 form is typically only filed with the Canada Revenue Agency (CRA) when an employee’s work situation requires them to pay for work-related expenses, or when an employee can, within reason, expect to claim work-related expenses as deductions on their tax return. As a result of the COVID-19 pandemic many people are working

Jan 27 2021
Tax Due on COVID-19 Government Assistance Programs for Individuals

With tax season just around the corner, you may be concerned about the impact various government assistance programs may have on your tax return. We have broken it down for you so that there are no surprises when completing your tax return. CERB These payments did not have tax deducted from them and will

Oct 20 2020
Canada Recovery Sickness Benefit (CRSB) Explained

“The Canada Recovery Sickness Benefit (CRSB) gives income support to employed and self-employed individuals who are unable to work because they are sick or need to self-isolate due to COVID-19, or have an underlying health condition that puts them at greater risk of getting COVID-19. The CRSB is administered by the Canada Revenue Agency

Oct 17 2020
Temporary Changes to EI (Employment Insurance)

As of September 27, 2020, there are some temporary changes to the EI program to help you access EI benefits. These changes will be in effect for 1 year. Go to EI benefits and leave to find the benefit type that applies to your situation. The following changes could apply to you: A minimum

Oct 2 2020
CERB has ended - What happens now?

The Canada Emergency Response Benefit (CERB) has ended for many participants.  So what happens now?  Transitioning from CERB to Employment Insurance Those who have not yet hit the 28-week maximum will continue receiving their CERB payment until they max out or reach October 3rd. New applicants who now realize they were eligible

Jun 17 2020
CERB (Canada Emergency Response Benefit) Extension - June 2020

The federal government announced on the 16th of June 2020 that they will be extending the Canada Emergency Response Benefit (CERB) eligibility period by eight weeks as the coronavirus pandemic continues to affect the job market. The Prime Minister said that those who are still unable to return to work due to the COVID-19

Apr 23 2020
Self Isolation Ideas

Tips for for the entire family Ideas for families with children Set up video chat ‘play dates’ with school friendsDon’t forget about your own needs. Keep up meditation, yoga and exercise.Take time to prepare meals together, get creative, let the children take control!Perfect time to Marie Kondo your child’s bedroom, together

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