COVID-19 Update: Support for Individuals – last updated April 15 2020

Canada Emergency Response Benefit

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.

Please refer to our blog titled Canada Emergency Response Benefit for further details.

Canada Child Benefit

Eligible recipients who have been receiving the Canada Child Benefit (“CCB”) will receive $300 more per child with their regular May CCB payment.  You do not have to reapply.

Support for Families (Government of Ontario)

While schools and child care centres are closed, parents can apply for direct funding to offset the cost of buying materials to support their children’s learning, while they practice self-isolation and physical distancing.

Eligible parents will receive a one-time per child payment of:

  • $200 for children aged 0 to 12
  • $250 for children or youth aged 0 to 21 with special needs

This funding can help parents with the costs of work books, educational apps, educational subscription services, movies and other tools to support learning at home.

Parents refers to parents, guardians, and caregivers.

There is no income cap on this program. All parents are eligible if you have a child who is:

  • up to 12 years old
  • up to 21 years old with special needs

If you have more than one child, you must submit one application per child.

Before you apply, please note:

  • only one parent can apply for each child
  • the parent who applies should have custody of the child

You are still eligible if you are a health care or front-line worker who is using emergency, 24-hour child care centres.

For a link to apply online for this benefit, click here.

Goods and Services Tax credit payment

Eligible recipients who have been receiving the Goods and Services Tax Credit will receive one-time special payment by early May.  The average additional benefit will be close to $400 for single individuals and close to $600 for couples.   You do not have to reapply.

Filing and Paying Personal Taxes

The deadline for filing your 2019 personal tax return has been deferred from April 30, 2020 to June 1, 2020.  Self-employed individuals and their spouses or common-law partners continue to have a June 15, 2020 filing deadline to file their 2019 personal returns.

The deadline to pay any balance due for your individual income tax, regardless of your filing deadline, has been extended from April 30, 2020, to September 1, 2020. This means you will not be assessed any penalties or interest if your balance due is paid by September 1, 2020.

Moratorium on the Repayment of Canada Student Loans

Effective March 30, the government is placing a six-month interest-free moratorium on the repayment of Canada Student Loans for all student loan borrowers. No payment will be required, and interest will not accrue during this time.

Students do not need to apply for the repayment pause.

Reduced minimum withdrawals for Registered Retirement Income Funds

The government is reducing the required minimum withdrawals from Registered Retirement Income Funds (RRIFs) by 25% for 2020.

Disclaimer:  The COVID-19 Canadian tax policies in the above article are changing rapidly as the governments introduce new measures. Certain details have yet to be published. We will aim to update them as soon as they are available.