BC Emergency Benefit – (ADDED May 5, 2020)
For all employees who would qualify for CERB, may also apply for the BC Emergency Benefit one-time assistance of $1,000 and would be deposited in the applicant’s personal bank account within ten days. Applications initiated May 1, 2020.
BC Temporary Rental Supplement – (ADDED May 5, 2020)
For those who would be laid off due to the COVID-19 pandemic, who rent their residence and who’s rent is 1/3 or more of their monthly income, they might qualify for the BC Temporary Rental Supplement.
Personal and Unemployed Financial Options:
- Personal Tax Returns — The CRA will allow all taxpayers to defer, until after August 31, 2020, the payment of any income tax amounts that become owing on or after today and before September 2020. This relief would apply to income tax balances due, as well as installments and no interest or penalties will accumulate on these amounts during this period.
- Registering and Reporting Electronically – By registering today, you will be able to file your T1, obtain your T forms, view your notice of assessment, receive your mail, submit documents, view and pay balances, change your return, etc. all online.
- Canada Emergency Response Benefit (Updated May 5, 2020) – For all employees who would lose their job because of COVID-19 and would not qualify for EI, they may receive up to $2,000 per month for up to four months. In addition, they may earn up to $1,000 of other earning each month. Applications for the Canada Emergency Response Benefit (CERB) as of April 6, 2020, at Canada.ca/coronavirus. There is no waiting period and direct deposit payments will be delivered into accounts within three business days of applicants being eligible to receive it, and cheques within 10 days. All eligible workers, whether or not they are eligible for Employment Insurance, will apply through this simplified application process.
- EI for Self-employed or Parents with Children - EI will provide an Emergency Care Benefit of up to $900 bi-weekly, for up to 15 weeks. The application for this benefit is available in April and evidence must be provided to ensure they meet the eligibility requirements.
- Support for workers including the self-employed who do not otherwise qualify for EI sickness benefits and are quarantined or sick with COVID-19 or taking care of a family member who is sick with COVID-19.
- Parents with children who require care or supervision due to school closures and as such, cannot perform their employment duties.
- Personal GST Rebates – The Canadian government has doubled the maximum annual GST credit payment amounts for the 2019-20 benefit year.
- Canada Child Benefit – The Canadian government has increased the maximum annual Canada Child Benefit payment amounts for the 2019-20 benefit year to $300 per child.
- Student Loans – The Canadian government has provided a 6-month interest-free moratorium on the repayment of Canada Student Loans.
- RRSPs - The Canadian government has reduced the required minimum withdrawals from Registered Retirement Income Funds (RRIFs) by 25% for 2020 for seniors.
- Homelessness - The Canadian government is funding the Reaching Home initiative to support people experiencing homelessness during the COVID-19 outbreak.
- Women’s Shelters - The Canadian government is providing funding to women’s shelters and sexual assault centers.
- Indigenous Groups - The Canadian government is funding the Indigenous Community Support Fund to address immediate needs in First Nations, Inuit, and Métis Nation communities.
- EI SUB Plan – If your revenues decrease or if employees show symptoms of COVID-19, the Canadian government is offering assistance through EI. To ensure long-term effectiveness and stability, staff members who could assist with the technical and/or verbal presentations to connect online with your people would be more helpful to keep employed than those with higher seniority, of hierarchy, caring for programs that are closed or caring for the facility. To take care of any such employees, your church could participate in the EI Supplementary Unemployment Benefit (SUB) plan. The EI SUB plan allows the employer to top-up the usual EI benefit of 55% of the employee’s remuneration, where the employee may continue with a maximum of 95% of their current remuneration.
- Grants for Ministering with/to Seniors
The federal government is offering a grant up to $25,000 to help community-based groups empower, train, and enhance the social well-being of seniors in your area over the next year. To learn more, please review this link.