To our clients, families and friends (and friends we’ve yet to meet): See below for some important information regarding the government’s Emergency Response Package in light of the COVID-19 pandemic.
Effectively immediately the government has announced an $82-billion-dollar aid package, including wage subsidies, income support and tax referrals, to assist Canadians and Canadian business owners in light of the COVID-19 pandemic.
With $27 billion designated towards direct support and $55 billion to assist business liquidity through tax referrals, the response package will assist Canadians in paying for their rent/mortgages and groceries while helping businesses meet payroll and bill requirements.
Details of the response package include:
- Temporary boost to Canada Child Benefit payments (roughly $2 billion in additional support)
- New Emergency Care Benefit delivering up to $900 biweekly, for a maximum of 15 weeks, providing support to workers (including self-employed workers) forced to stay home without paid sick leave or employment insurance
- New Emergency Support Benefit providing up to $5 billion in support for workers facing unemployment and who are ineligible for EI
- Six-months of interest-free deferral on student loan payments
- Doubling of the homeless care program
- Extension of the tax filing deadline until June 1st
- Tax payments due after today and before September may be deferred until after August 31st
- $305 million for a new Indigenous Community Support Fund, geared towards addressing immediate needs of First Nations, Inuit and Metis Nation communities
The response package is in addition to initiatives already announced by the federal government which also include:
- $1 billion for increased public health measures ($275 million for research such as vaccine development and $200 million for federal medical supplies and support for Indigenous communities)
- $500 million in support of provincial and territorial governments
- A $10 billion credit fund established to help businesses continue operations
To our valued clients, please note that the Terry Paranych Real Estate Group is still open for business. While we will be adhering to social distancing recommendations in order to ensure your health and safety, we would be happy to meet virtually or on the phone to answer any questions you may have regarding buying or selling your home.
Stay safe, happy and healthy, Edmonton!
The Terry Paranych Real Estate Group
Source: cbc.ca