The current COVID-19 crisis is changing many things for many people. The repercussions are numerous. Governments are working tirelessly to lessen the impact on people's health ... and also on their financial health. If you are an employee of a restaurant that has shut down due to the COVID-19 pandemic, here are the assistance measures available to you.
Because many workers are forced into unemployment, the various levels of government have made several announcements in the past few days in order to help them.
Canadian Emergency Benefits
At the federal level, Justin Trudeau’s government has adopted an $ 82 billion assistance plan to help both individuals and businesses.
The Canadian Emergency Benefit (CHP) is probably the most talked about gesture in recent weeks. It entitles all those who have lost their income due to the pandemic to a taxable amount of $ 2,000 per month for a maximum of four months.
To be eligible, you must also be 15 years of age or older, have earned at least $ 5,000 in 2019 and be deprived of income for at least 14 consecutive days between March 15 and April 15.
You should receive the first benefit by direct deposit within three business days of the date you made your request. We are talking about a ten day delay if the service is paid to you by check.
Please note that you will have to reapply every four weeks and confirm your eligibility for the ECP if your situation continues.
You will be able to register this week depending on the month of your birth.
Other support measures for individuals
Actions taken to support workers include the increase in the Canada Child Benefit amounts, an additional $ 300 per child.
Also, a special and one-time payment, coming in the week of April 9, will be made to all those who are eligible for the goods and services tax credit. The government is talking about an additional $ 400 for single people and $ 600 for couples.
Also, you will be able to complete your tax return no later than June 1, 2020 instead of April 30 as is usually the case. And if you have to pay tax, you must do so by August 31 at the latest.
Finally, the federal government reminds you that Canadian banking institutions have committed to working with you to find payment solutions to settle your mortgage. You must contact your mortgage lender to reach an agreement as soon as possible if you are in financial difficulty due to COVID-19.
For owners
Know that restaurateurs are not forgotten in this misadventure. Several measures are announced to help entrepreneurs recover from the crisis when the situation allows.
Federal Finance Minister Bill Morneau has made available an interest-free loan of up to $ 40,000 in the form of an emergency account. Restaurateurs will be eligible for this through the Business Development Bank of Canada (BDC) and Export Development Canada (EDC) programs.
The federal government has also committed to cover up to 75% of the wages of employees of all businesses who will experience income cuts of at least 30% retroactive to March 15.
