This morning Justin Trudeau announced the new Canada Emergency Response Benefit to replace the earlier announced Emergency Care and Emergency Support Funds. Due to the unprecedented level of applications and in order expedite Canadians getting money in their pockets this fund will pay Canadian’s $2000/mo for the next four months.
Who Qualifies for the Canada Emergency Response Benefit
Our self-employed / business owning clients are of course extremely stressed about how they will continue if they’ve shut up shop. Further our clients with employees are stressed and concerned about how their employees will manage. Here’s who will qualify
- Anyone who has applied for EI: in order to process applications faster all applicants will qualify for this benefit for the first 4 months at which point if still unemployed they will transition to the normal EI system
- Anyone who is sick, caring for someone who is sick or caring for Children
- Anyone who is not making any money because business has shut down due to COVID-19 (this includes all of our health & wellness solo-preneurs and contractors (who have had to stop working), artists and musicians (with cancelled gigs) etc.
- Anyone who has had hours reduced in due to lack of work due to COVID-19 (this one will be of great importance to our clients concerned about laying off staff)
When Will the Money Arrive and When Can You Apply?
You can apply through your My CRA Account . Residence of BC can expedite this process by using their BC Services Card. The site is getting hit hard. If you don’t have access yet get it set up ASAP.
Applications open April 6. The period covered is March 15 – October. The government is said you can expect funds within 10 days of making your application. This means that people who apply on April 6 could in theory get their funds by April 16th.
Regular employees should still get an ROE and apply for EI as you are laid off – do not wait for April 6.
If you have any questions about filing ROE’s or accessing your My CRA Account please feel free to contact us