TEMPORARY WAGE SUBSIDY
The government announced an up to 75 per cent wage subsidy for qualifying businesses, for up to 3 months, retroactive to March 15, 2020. This will help businesses to keep and return workers to the payroll.
More details on eligibility criteria will start with the impact of COVID-19 on sales, and will be shared shortly.
CANADA EMERGENCY RESPONSE BENEFIT (CERB)
This will provide a benefit of $2,000 a month for up to four months for workers who lose their income as a result of the COVID-19 pandemic. Applications are open as of April 6, 2020.
GOODS & SERVICES TAX CREDIT
The Government will provide a one-time special payment by early May 2020 through the GSTC. This will double the maximum annual GSTC payment amounts for the 2019-20 benefit year.
CANADA CHILD BENEFIT
The Government increased the maximum annual CCB payment amounts, only for the 2019-20 benefit year, by $300 per child.
RRIF MINIMUM WITHDRAWAL
The minimum withdrawals requirement from RRIFs will be reduced by 25% for 2020.