Support for Workers Taxes Other Budgets

Canada Emergency Student Benefit (“CESB”)

  • Available from May to August 2020
  • $1,250 per month for eligible students and $2,000 per month for eligible students with a dependent or a disability

Canada Emergency Response Benefit (“CERB”)

  • $2,000 per month for up to 16 weeks, applied for in four-week periods
  • must have ceased working for COVID19-related reasons for at least 14 consecutive days in each four-week period applied for, where they are over the age of 14 and earned at least $5,000 in 2019 (or in a 12-month period preceding the application date)
  • For employees, contract workers and sole proprietors, whether eligible for EI or not
  • not eligible where individual already receiving EI
  • Can earn up to $1,000 in the four-week period
  • Includes seasonal workers or regular workers who have exhausted their EI benefits

Income Tax Filing Deadline

  • Extension to June 1, 2020 for individuals (self-employed deadline remains at June 15, 2020)
  • CRA will not charge penalties for income tax returns filed by September 1, 2020
  • Extension to Sept. 1, 2020 for corporations with tax returns otherwise due in June, July or August

Income Tax Payment Deadline

  • Extension to Sept. 1, 2020 on instalments and balances due for individuals and corporations

GST/HST Filing & Payment Deadlines

  • Extension to June 30, 2020 for GST/HST returns and payments due from March 27, 2020 to June 30, 2020

Minimum RRIF Withdrawals

  • 25% reduction for 2020
  • similar rules for variable benefit payments under RPP

Debt Collection

  • Halted until further notice

Canada Emergency Business Account (“CEBA”)

  • available for businesses with (i) 2019 payroll between $20,000 and $1,500,000 or (ii) non-deferrable operating expenses between $40,000 and $1,500,000 and filed 2018 or 2019 tax return where they have a business number with CRA
  • up to $40,000 loan, interest-free to Dec. 31, 2022 (5% thereafter), 75% forgiven if repaid by Dec. 31, 2022

Canada Emergency Commercial Rent Assistance (“CECRA”)

  • available for businesses paying monthly rent less than $50,000 where they have at least 70% drop in revenue
  • minimum 75% rent forgiven where landlord and tenant enter into rent forgiveness agreement
  • federal and provincial government cover 50% of forgiven rent
  • available for April, May and June 2020

Canada Emergency Wage Subsidy (“CEWS”)

  • 75% wage subsidy of up to $847 per week per employee from March 15 to August 29, 2020
  • for employers who suffer a 15% decrease in revenue in March and 30% in April or May (requirement for decreased revenue for qualifying period from June 7 to August 29 not yet determined)
  • Special rules apply for non-arm’s length employer/employee relationships

Original date: March 30, 2020


Postponed, Awaiting Announcement

For further details see TREP Summary – COVID-19 Economic Response Plan