By Nicole Barnett
•
April 26, 2020
There were some new announcements today about funding that will be available to individuals. You may want to share this information with employees or those you have been forced to layoff. Alberta Emergency Isolation Support As a temporary bridge until federal funding is available in April, Alberta has announced a one-time emergency isolation support payment of $1,146 for Albertans who are required to self-isolate or are the sole caregiver of someone in self-isolation and no other source of compensation is available. Details on who is eligible and how to apply are here: https://www.alberta.ca/emergency-isolation-support.aspx Canada Emergency Response Benefit Previously announced programs for Emergency Care and Emergency Support Benefits have now been combined into the Canada Emergency Response Benefit (CERB), which will provide eligible individuals with $2,000/month for four months. The application portal for this benefit will open on April 6, 2020. As an employee, contractor or self-employed person, you are eligible if: Your have been laid off or terminated You are sick or quarantined, or taking care of someone who is sick or quarantined You must stay home without pay with kids who are sick or at home due to school or daycare closures You are still working but not receiving any income because of Covid-19 disruptions This program is designed to reduce the strain on the EI system and get funds into the hands of Canadians faster. Payments are expected to be received within 10 days of application, so the first payments should be out after April 16, 2020. Already receiving EI regular and sickness benefits? Do not apply for the CERB. You will continue to receive your EI benefits. Already applied for EI and application has not been processed? Do not reapply for the CERB . Your application for EI will be used for the new program. The news release is here: https://www.canada.ca/en/department-finance/news/2020/03/introduces-canada-emergency-response-benefit-to-help-workers-and-businesses.html Other funding: Other previously announced funding is expected to reach Canadians in May. A one-time GST credit for low/modest income individuals should give an extra $400 for singles and $600 for couples. If you are eligible, you will get it automatically. No need to apply. The increased Canada Child Benefit (CCB) will add $300/child on the May benefit cheque. If you already receive CCB, no application is required. Personal tax filing and payment deadline extensions: The T1 filing deadline has been extended from April 30th to June 1st. However, if you receive GST credits, Child Benefits or Guaranteed Income Supplements, you should file as soon as possible to ensure there are no interruptions in these benefits. The personal tax payment deadline has been extended from April 30th to after August 31st, with no interest or penalties. This only applies to amounts due from 2019 tax returns, so if you have any older tax debts, there is no deferral available. There is no deferral for GST payments. If you are self-employed and registered for GST, your regular filing and payment deadlines still apply. The team at Insight LLP is committed to helping our clients access and understand the latest information on the ever-changing Covid-19 situation. Please contact us directly with any questions specific to your business needs at 587-813-0529 or via email.