The Government of Canada is taking immediate, significant and decisive action to help Canadians facing hardship as a result of the COVID-19 outbreak.
The most relatable programs to everyone are:
- Canada Emergency Response Benefit (CERB)
- Canada Emergency Wage Subsidy (75% of weekly payroll)
- Temporary Wage Subsidy for Employers (10% of payroll via payroll taxes reduction)
- Canada Emergency Business Account ($40k interest-free loan with $10k forgiveness)
- CECRA (75% business rent reduction)
- Increasing the Child Benefit (automatically done by the federal government so no action needed from taxpayers)
- Several deferrals in regards to the mortgage payment, income tax owing, HST dues, etc.
Here is a one-minute video tutorial to show you how to apply for CERB step by step in 90 seconds:
