The Government of Canada is taking immediate, significant and decisive action to help Canadians facing hardship as a result of the COVID-19 outbreak.
On March 18, 2020, the Prime Minister announced a new set of economic measures to help stabilize the economy during this challenging period. These measures, delivered as part of the Government of Canada’s COVID-19 Economic Response Plan, will provide up to $27 billion in direct support to Canadian workers and businesses.
Below is a summary of the very long report released today. The full report can be found by clicking the link at the bottom of this story.
Emergency Funds for COVID-19:
GST credit – up to $300 single adults – $600 for couples
Child Tax benefit Top up – $300 per child added on top of what you receive already.
Bank Supports -auto loans – deferral of payments possible -contact bank directly -speak to your institutions
Personal Income Tax -payment before September. 1st/2020 – extended deadline for income tax payments owed
-Filing deadline for Income Tax – June.1st/2020
Emergency Care Benefit -Quarantined or caring for sick family member -Providing $900 bi weekly -Payment via direct deposit -Will not require medical documentation -Starting early April
Emergency support fund – $5 Billion -more info to come
*Supply chains from groceries will maintain fair prices for Canadians
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