Utility Payment Deferral
Banks and Credit Unions
ATB financial customers
Alberta Credit Unions
Education Property Tax Freeze
Licensed child care
Child care for core service workers
Home-based child care
Post Secondary Education
Classes at post-secondary institutions are cancelled until further notice. The province is working with post-secondary institutions to ensure that these extraordinary circumstances do not prevent students from being eligible for admission to post-secondary studies for the upcoming school year.
Canada Emergency Student Benefit
We are proposing the Canada Emergency Student Benefit (CESB) that would provide support to students and new graduates who are not be eligible for the Canada Emergency Response Benefit or Employment Insurance or unable to work due to COVID-19.
This benefit would provide $1,250 per month for eligible students or $1,750 per month for eligible students with dependents or disabilities.
This benefit would be available from May to August 2020.
More details will be made available soon.
Canada Student Service Grant
We are launching the Canada Student Service Grant (CSSG), which will help students gain valuable work experience and skills while they help their communities during the COVID‑19 pandemic.
For students who choose to do national service and serve their communities, the new CSSG will provide up to $5,000 for their education in the fall.
More details will be made available on the “I Want to Help” platform soon.
Canada Emergency Response Benefit
Applications for the Canada Emergency Response Benefits began April 6. To ensure the system is not overloaded, the government is asking for you to apply on days assignment to your birth date.
There are two ways to apply:
Online with CRA My Account: https://tinyurl.com/y3chp6qx
Over the phone with an automated phone service:
Before you call
To verify your identity, you'll need
· your social insurance number (SIN)
· postal code
Call -800-959-2019 or 1-800-959-2041
After you apply
If you are eligible for the CERB, you can expect $2,000 ($500 per week) for a 4-week period.
The CERB is paid by direct deposit or by cheque if your direct deposit information is not on file.
After you apply, you should get your payment in 3 business days if you signed up for direct deposit. If you haven't, you should get it in about 10 business days. If your situation continues, you can re-apply for a payment for multiple 4-week periods, to a maximum of 16 weeks (4 periods).
You may reapply on the following dates but your benefit will only be available for 4 months:
Note: These benefits are taxable and you will need to report any payments received on next year's tax filing.
Temporary Income Support for Workers and Parents
For Canadians without paid sick leave who are sick, quarantined or forced to stay home to care for children:
Income Support for Individuals Who Need It Most
For low- and modest-income families:
Role of Financial Institutions
Banks in Canada have affirmed their commitment to working with customers to provide
flexible solutions, on a case-by-case basis, for managing through hardships caused by
recent developments such as pay disruption, childcare disruption, or illness. This will
include up to a 6-month payment deferral for mortgages, and the opportunity for relief
on other credit products.
Mortgage Default Management Tools
The Canada Mortgage and Housing Corporation (CMHC) can assist homeowners
who may be experiencing financial difficulty. These include payment deferral, loan
re-amortization, capitalization of outstanding interest arrears and other eligible
expenses, and special payment arrangements.
Registered Retirement Income Funds (RRIFs) minimum withdrawal
The minimum withdrawals requirement from RRIFs will be reduced by 25% for 2020, in recognition of volatile market conditions and their impact on many seniors' retirement savings. This will provide flexibility to seniors who are concerned they may be required to liquidate their RRIF assets to meet minimum withdrawal requirements. Similar rules apply to individuals receiving variable benefit payments under a defined contribution registered pension plan and a pooled registered pension plan.
Measures are in place to protect businesses, employers and employees from the economic disruption of COVID-19, including:
Corporate income tax changes
Education property tax deferral
WCB premium payment deferral
Utility payment deferral
Banks and credit unions
Changes to the Employment Standards Code will allow full and part-time employees to take 14 days of job-protected leave if they are:
To be eligible, employees:
This leave covers the 14-day self-isolation period recommended by Alberta’s chief medical officer. This leave may be extended if the advice of the chief medical officer changes.
The leave does not apply to self-employed individuals or contractors.
Vacation pay, leave or banked overtime
Employment insurance benefits
Employees may consider applying for Employment Insurance:
Education Property Tax Deferral for Busines
Effective immediately, the government will defer education property tax for businesses for 6 months.
WCB Premiums Deferral
Private sector employers can save money on their WCB premium payments at a time when they need it most. These actions ensure the sustainability of the workers’ compensation system and that injured workers continue to receive the benefits and supports they need to return to work.
Support for Your Business
Click on this link to walk you through the many federal supports for your business.
Canada Emergency Wage Subsidy
The subsidy generally covers 75% of an employee's wages – up to $847 per week - for employers of all sizes and across all sectors who have suffered a drop in gross revenues of at least 15% in March, and 30% in April and May.
The program will be in place for a 12-week period, from March 15 to June 6, 2020.
Employers who are eligible for the CEWS are entitled to receive a 100% refund for certain employer contributions to Employment Insurance, the Canada Pension Plan, the Quebec Pension Plan, and the Quebec Parental Insurance Plan paid in respect of employees who are on leave with pay.
For employers that are eligible for both the CEWS and the 10% Temporary Wage Subsidy for a period, any benefit from the Temporary 10% Wage Subsidy for remuneration paid in a specific period will generally reduce the amount available to be claimed under the CEWS in that same period.
Applications will be open on April 27.
Canada Emergency Business Account
To ensure that small businesses have access to the capital they need to see them through the current challenges, the Government of Canada is announcing the launch of the new Canada Emergency Business Account, which will be implemented by eligible financial institutions in cooperation with Export Development Canada (EDC).
This $25 billion program will provide interest-free loans of up to $40,000 to small businesses and not-for-profits, to help cover their operating costs during a period where their revenues have been temporarily reduced, due to the economic impacts of the COVID-19 virus.
This will better position them to quickly return to providing services to their communities and creating employment. Small businesses and not-for-profits should contact their financial institution to apply for these loans. To qualify, these organizations will need to demonstrate they paid between $50,000 to $1 million in total payroll in 2019. Repaying the balance of the loan on or before December 31, 2022 will result in loan forgiveness of 25 percent (up to $10,000).
Canada Emergency Commercial Rent Assistance
We intend to introduce the Canada Emergency Commercial Rent Assistance (CECRA) program for small businesses that, will seek to provide loans and/or forgivable loans to commercial property owners who in turn will lower or forgo the rent of small businesses for the months of April (retroactive), May, and June.
Implementation of the program will require a partnership with provincial and territorial governments who are responsible for property owner-tenant relationships.
More details will be available soon.
Loan Guarantee for Small and Medium Businesses
Small and medium-sized enterprises (SMEs) may be particularly vulnerable to the impacts of COVID-19. To support their operations, EDC will guarantee new operating credit and cash flow term loans that financial institutions extend to SMEs, up to $6.25 million.
Co-lending Program for Small and Medium Businesses
To provide additional liquidity support for Canadian businesses, the Co-Lending Program will bring the Business Development Bank of Canada (BDC) together with financial institutions to co-lend term loans to SMEs for their operational cash flow requirements.
Eligible businesses may obtain incremental credit amounts up to $6.25 million BDC’s portion of this program is up to $5 million maximum per loan. Eligible financial institutions will conduct the underwriting and manage the interface with their customers.
Flexibility for Businesses Filing Taxes
The Canada Revenue Agency will allow all businesses 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. The Canada Revenue Agency will not contact any small medium (SME) businesses to initiate any post assessment GST/HST or Income Tax audits for the next four weeks. For the vast majority of businesses, the Canada Revenue Agency will temporarily suspend audit interaction with taxpayers and’ representatives.