Prime Minister Justin Trudeau announced an $82-billion aid package on March 18, to provide support to Canadian during the coronavirus pandemic. The package includes $27 billion in direct assistance.
- Starting March 30 until Sept. 30, anyone repaying their student loan will automatically get a six-month interest-free pause on repayment on the federal debt portion of your loan.
- The one-week waiting period for employment insurance has been waved for individuals in quarantine who claim EI. You are not required to provide a medical certificate to get EI sickness benefits.
- The Canada Revenue Agency will administer the emergency care benefit giving up to $900 bi-weekly for up to 15 weeks. Applications for the emergency care benefits will be available on the CRA website starting in early April.
- It will provide support to self-employed workers, who are quarantined or sick with COVID-19, but who do not qualify for EI benefits. For people who are taking care of a family member who is sick with the virus or an elderly parent, this benefit will help too.
- It will help parents with children who need care because of school closures and cannot earn income during that time. (This will help even if they do not qualify for EI.)
- Families with children will receive a boost to the Canada Child Benefit by $300 per child starting in May.
- The government will provide a one-time payment in May 2020 to double the maximum annual Goods and Services Tax credit payment. This will provide close to $400 for single people and close to $600 for couples.
- The deadline to submit your taxes has been extended to June 1. If you owe money on your taxes, you now have until Aug. 31 to pay.