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Explanation of the Federal Government's Benefits

Explanation of the Federal Government's Benefits
Over the past week, the federal government has shared additional details about programs that provide financial help to individuals and businesses because of the COVID-19 pandemic.

  • Canada Emergency Response Benefit
    If you have stopped working because of COVID-19, the Canada Emergency Response Benefit (CERB) may provide you with temporary income support. The CERB provides $500 a week for up to 16 weeks.

  • Work - Sharing Program
    Work-Sharing (WS) is an adjustment program designed to help employers and employees avoid layoffs when there is a temporary reduction in the normal level of business activity that is beyond the control of the employer.

  • Canada Child Benefit
    Starting in July 2019, the Canada Child Benefit has been increased once again to keep pace with the cost of living.

  • Increased GST Benefit
    You will get the extra payment amount automatically if you normally receive the GST/HST credit and have filed a 2018 tax return. Payments will be issued on April 9, 2020.

  • Small Business Wage Subsidy
    The Government of Canada is taking immediate, significant and decisive action to support Canadians and businesses facing hardship as a result of the global COVID-19 outbreak.

  • Business - Access to Credit
    On March 18, 2020, the Prime Minister announced a new set of economic measures to help stabilize the economy during this challenging period.

  • Canada Emergency Response Benefit (CERB) - $2000 with CRA
    The CERB supports Canadians by providing financial support to employed and self-employed Canadians who are directly affected by COVID-19. It provides a payment of $2,000 for a 4-week period (the same as $500 a week) for up to 16 weeks (Retroactive to March 15, 2020).

One thing we know for sure is that when you look for positives, you will find them. A fish is a fantastic swimmer but terrible at flying. We cannot control what is happening right now, but we can react accordingly. Practice social distancing, washing hands regularly, and isolating at home if feeling sick.

To everyone who took the time to read this month's letter, we wish you the best of health and success in the future.