New Goverment Programs Announced For Covid 19 Relief
Tuesday Apr 28th, 2020Share
- Canada Emergency Student Benefit (CESB): Provide $1,250 per month for eligible students from May through August 2020, and $1,750 for students with dependents and those with permanent disabilities. The CESB will be delivered by CRA and more details to come.
- Canada Student Service Grant (CSSG): Recognize students' significant contributions to the COVID-19 efforts, and provide support through a new CSSG Grant which will provide up to $5,000 to support student's post-secondary education costs in the fall. More details will be made available on the I Want to Help platform over the coming weeks.
- Canada Emergency Commercial Rent Assistance (CECRA): Small business tenants who pay less than $50,000 per month in rent and have temporarily ceased operations or experienced a 70% drop in revenue due to COVID-19 will be eligible. CECRA will provide a forgivable loan to qualifying commercial landlords to cover 50% of three monthly rent payments payable by eligible tenants. These loans will be forgiven if the landlord agrees to reduce the eligible tenants’ rent by at least 75% for the three corresponding months and agrees to not evict the tenant during that time. The Canada Mortgage and Housing Corporation will administer and deliver CECRA, which is expected to be operational by mid-May, with the rent reductions applying for April and May (retroactively) and also June, 2020.
- Canada Emergency Wage Subsidy FAQ: The CRA has published a webpage with frequently asked questions and answers regarding the Canada Emergency Wage Subsidy.
For more information on Goverment programs currently available I have attached this link to a web page with all the programs currently available.
If you or any of your family members or friends qualify for any of the above programs I would encourage you to look into them further and apply. These are difficult times and we are all in this together so feel free to take any opportunity you can to get the assistance you need.