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Up to date information about the economic effects of COVID-19 to help you make the best financial decisions for your life.
Financial Assistance For Individuals
- Canada Emergency Response Benefit (CERB)
- Additional support for low-income essential workers (more information to come)
- Larger Canada Child Benefit (CCB) payments
- New income tax deadlines
- One time special GST payment
- Mortgage deferrals and support from Canada’s major banks
- Rent assistance (help offered on the provincial level)
- Suspension of student loan repayment
- Reduction of credit card interest rates by major banks
- How to Apply For the Canada Emergency Response Benefit (CERB)
- CERB Double Payments – What Should You Do?
- Can I Apply For Both E.I. and The CERB?
- COVID-19’s Effect On Canadian Tax Season 2019
- Can You Get a Mortgage Deferral Because of COVID-19?
- Canada Emergency Student Benefit (CESB): Financial Help For Students During COVID-19
- Dealing With Credit Card Debt During COVID-19
- Rent Deferrals Needed Amid COVID-19 Chaos
- Scams During The COVID-19 Pandemic
- Will COVID-19 Affect Your Credit Score?
- Canadians Affected By COVID-19 More Vulnerable to Predatory Payday Lenders
- Can Payments From The Canada Emergency Response Benefit (CERB) Be Garnished?
- Applying For Employment Insurance (EI) Because of COVID-19
- The Effect Of Coronavirus On Canadian Mortgages
- How to Financially Handle Coronavirus Layoffs
Support For Businesses
- Canada Emergency Business Account (CEBA)
- Business Credit Availability Program (BCAP)
- Canada Emergency Wage Subsidy (CEWS)
- Canada Emergency Commercial Rent Assistance (CECRA) (more information to come)
- Temporary 10% wage subsidy
- Extending the Work-Sharing program
- Extended tax deadlines (income tax, GST/HST, duties on imports)
- Support for rural businesses through Community Futures Network
- Support for early-stage businesses through the Industrial Research Assistance Program (IRAP)
- Support for young entrepreneurs through Futurpreneur Canada
- Support for small and medium-sized businesses (who are unable to access other government support)
- Facebook Small Business Grants Program
- Support for specific industries
- What Is The Canada Emergency Business Account (CEBA)?
- 75% Wage Subsidy For Canadian Businesses Affected By COVID-19 (CEWS)
- 75% Rent Relief Through The Canada Emergency Commercial Rent Assistance (CECRA)
- Business Legal Obligations Amid Coronavirus Outbreak
- Small Business Funding To Combat Coronavirus
- COVID-19 Government Assistance For Canadian Businesses
Effect on Canada’s Most Financially Vulnerable
From April 15, 2020 to April 23, 2020 we surveyed nearly 1000 financially vulnerable Canadians go get a better idea of the effect COVID-19 was having on their lives. We invite you to check out our recent study illustrating COVID-19’s effect on Canada’s most financially vulnerable.
Why did I receive two CERB payments?
Can I qualify for EI and CERB at the same time?
I’m a student, am I eligible to receive financial assistance from the government?
Do I have to pay my mortgage if I lost my job because of COVID-19?
Will I accrue interest if I defer my mortgage payments?
Will I be able to defer my rent payments if I lose my job?
Will COVID-19 affect my credit score?
Will deferring a mortgage payment because of COVID-19 affect my credit score?
What do I do if I can’t afford my credit card payment this month?
Will my car get repossessed if I don’t make my payment because I lost my job?
What happens if I can’t afford my car insurance due to COVID-19?
Does interest accrue if I defer my personal loan payment?
How to apply for the Canada Emergency Business Account (CEBA)?
How to apply for the Business Credit Availability Program (BCAP)?
When do I have to file my business income tax return?
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