COVID-19 Financial Help

The Canada Recovery Benefit (CRB) gives income support to employed and self-employed individuals who are directly affected by COVID-19 and are not entitled to Employment Insurance (EI) benefits. The CRB is administered by the Canada Revenue Agency (CRA).

If you are eligible for the CRB, you can receive $1,000 ($900 after taxes withheld) for a 2-week period.

If your situation continues past 2 weeks, you will need to apply again. You may apply up to a total of 13 eligibility periods (26 weeks) between September 27, 2020 and September 25, 2021.

Learn more: https://www.canada.ca/en/revenue-agency/services/benefits/recovery-benefit.html

• This emergency assistance is a repayable loan up to $5000.00
• The Government of Canada encourages all Canadians abroad to register with the Registration of Canadians Abroad service to get the latest updates on the situation at their destination.
• Eligible Canadians currently outside Canada who need financial assistance can contact us at CAN.finances.CV19@international.gc.ca
• For all other consular emergencies, contact the nearest Government of Canada office or Global Affairs Canada’s 24/7 Emergency Watch and Response Centre in Ottawa at +1 613-996-8885 (collect calls are accepted where available) or email sos@international.gc.ca.

Learn more: https://www.canada.ca/en/global-affairs/news/2020/03/government-of-canada-to-provide-financial-assistance-to-canadians-abroad.html

Changes to support you during COVID-19

As of September 27, 2020, there are some temporary changes to the EI program to help you access EI sickness benefits. The following changes will be in effect for 1 year and could apply to you:

• You only need 120 insured hours to qualify for benefits because you'll get a one-time credit of 480 insured hours to help you meet the required 600 insured hours of work
• You'll receive at least $500 per week before taxes but you could receive more
• If you received the CERB, the 52-week period to accumulate insured hours will be extended

Employment Insurance (EI) sickness benefits can provide you with up to 15 weeks of financial assistance if you cannot work for medical reasons. You could receive 55% of your earnings up to a maximum of $573 a week.

You must get a medical certificate to show that you’re unable to work for medical reasons. Medical reasons include illness, injury, quarantine or any medical condition that prevents you from working.

• Telephone: 1-833-381-2725 (toll-free)
• Teletypewriter (TTY): 1-800-529-3742

Learn more: https://www.canada.ca/en/services/benefits/ei/ei-sickness.html

If you are a senior receiving monthly Ontario Guaranteed Annual Income System (GAINS) payments, we will be doubling your payment, making it up to $166 per month for individuals and up to $332 per month for couples. If you are a GAINS recipient, you will receive this extra support automatically for six months, with the first payment on April 24, 2020.

To sign up for direct deposit, call 1-800-277-9914.

The Government of Canada is providing a one-time special payment by early May through the Goods and Services Tax credit for low and modest income families.

The average additional benefit will be close to $400 for single individuals and close to $600 for couples.

There is no need to apply for this payment. If you are eligible, you will get it automatically.

• This will provide flexibility to seniors that are concerned that they may be required to liquidate their RRIF assets to meet minimum withdrawal requirements. Similar rules would apply to individuals receiving variable benefit payments under a defined contribution Registered Pension Plan

Learn more: https://www.canada.ca/en/department-finance/economic-response-plan.html

Seniors who qualify for Old Age Security (OAS) will be eligible for a one-time, tax-free payment of $300, and those eligible for the Guaranteed Income Supplement (GIS) will get an extra $200.

Those eligible for both will receive $500.

Seniors who already are receiving OAS and GIS will receive the one-time benefit automatically; they will not be required to apply for it.

News Story: https://www.ctvnews.ca/health/coronavirus/feds-sending-seniors-one-time-payment-of-up-to-500-as-part-of-new-covid-19-aid-1.4935514

Ontario Works helps people who are in financial need through offering assistance to help with the costs of basic needs, like food, clothing and shelter. 

• Call the District of Muskoka at 705-645-2412 ext. 4257 to apply or learn more at www.muskoka.on.ca/ontarioworks

Need other emergency assistance?

• You may be eligible for financial help with costs associated with rent, utility, fuel, wood, and other necessities.
• To apply for assistance, please contact us at emergencyshelter@muskoka.on.ca or 705-645-2412 ext. 4363, Mon-Fri 8:30am-4:30pm, excluding holidays.

The Government of Canada is providing an extra $300 per child through the Canada Child Benefit (CCB) for 2019-20. This will mean approximately $550 more for the average family.

• Those who already receive the Canada Child Benefit do not need to re-apply.
• If you need to apply visit: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit-overview/canada-child-benefit-apply.html

A six-month interest-free moratorium on the repayment of Canada Student Loans for all individuals currently in the process of repaying these loans.

• No application required
• has been extended to cover Canada Apprentice Loans

Learn more: https://www.canada.ca/en/department-finance/economic-response-plan.html

The March 31, 2020 deadline to submit your Ontario Autism Program registration form and supporting documents to be eligible for interim one-time funding has been extended.

Due to the COVID-19 outbreak,  The Government of Ontario is extending the amount of time you have to spend your interim one-time funding and submit your expense form by up to six months, if necessary. You now have up to 18 months to spend your interim one-time funding and submit your expense form.

For example, if your original 12 months to spend your funding ends on June 10, 2020, you now have until December 10, 2020 to spend your funding and submit your expense form.

You do not need to contact the ministry to be eligible or to accept this extension.

Families who are ready to submit an expense form at 12 months – as stated in their original funding agreement – can do so. The extension is optional and intended to support those families who need it.

 OSAP previously temporarily deferred loan repayments and interest accrual. 

As of October 1, 2020, you are required to resume repaying your loan, meaning:

• payments will be withdrawn from your account if you are on pre-authorized debit
• if you make payments through online banking or cheque, you are required to send in payments

If you need help repaying your loans, you can apply to lower your monthly payments through the Repayment Assistance Plan.

For Tourism operators, small- or medium- sized businesses or organizations that have received Regional Development Agency (RDA) funding and COVID-19 is affecting your operations, contact your local RDA office who can review your situation and provide guidance. You may be eligible to receive additional funding and/or flexible arrangements, and further support will be determined on a case-by-case basis as the situation evolves.

If you are a tourism operator or small- or medium- sized business or organization impacted by the sudden shifts in the economy and need pressing assistance, the RDAs could assist you with access to federal funding to help you stay in business and advice and pathfinding services to other federal programs and services available.

Learn more: http://www.ic.gc.ca/eic/site/icgc.nsf/eng/07677.html

Businesses who have questions about closures of at-risk workplaces or how emergency measures impact their business or employment can call the Stop the Spread Business Information Line at:

• 1-888-444-3659 

Learn more: https://news.ontario.ca/opo/en/2020/03/stop-the-spread-business-information-line-now-open-at-1-888-444-3659.html?utm_source=ondemand&utm_medium=email&utm_campaign=p

Through the Business Credit Availability Program, Export Development Canada (EDC) is working with financial institutions to guarantee 80% of new operating credit and cash flow term loans of up to $6.25 million to small and medium-sized enterprises (SMEs).

This financing support is to be used for operational expenses and is available to both exporting and non-exporting companies.

This program is now available at various banks and credit unions.

Learn more:

• https://www.canada.ca/en/department-finance/economic-response-plan.html
• https://www.canada.ca/en/services/business/maintaingrowimprovebusiness/resources-for-canadian-businesses.html

The Canada Emergency Business Account (CEBA) 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.

• To qualify, these organizations will need to demonstrate they paid between $20,000 to $1.5 million in total payroll in 2019.
• Business owners can apply for support from the Canada Emergency Business Account through their banks and credit unions.

The Canada Emergency Business Account (CEBA) provides 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. This program has been implemented by banks and credit unions in collaboration with Export Development Canada.

Business owners can apply for support from CEBA through their banks and credit unions.

Learn more: https://www.canada.ca/en/department-finance/economic-response-plan.html

Effective March 15, 2020 to March 14, 2021, and not limited to one specific sector or industry, the Government of Canada is introducing temporary special measures:

• Extension of the maximum possible duration of an agreement from 38 weeks to 76 weeks
• Mandatory cooling off period has been waived for employers who have already used the Work-Sharing program so that eligible employers may immediately enter into a new agreement
• Reduce the previous requirements for a Recovery Plan to a single line of text in the application form
• Reduce the requirement and expand eligibility to employers affected by accepting business who have been in business for only 1 year rather than 2, and eliminate the burden of having to provide sales/production figures at the same time, and
• Expand eligibility for staff who are essential to recovery, Government Business Enterprises (GBEs) and non-for-profit organization employers.

Learn more: https://www.canada.ca/en/employment-social-development/services/work-sharing/notice-covid-19.html#h2.02

In January 2021, applications will open for the new Ontario Small Business Support Grant, which will help small businesses that are required to close or significantly restrict services under the new Provincewide Shutdown effective December 26, 2020.

What you’ll get

Starting at $10,000 for all eligible businesses, the grant will provide businesses with dollar for dollar funding to a maximum of $20,000 to help cover decreased revenue expected as a result of the Provincewide Shutdown. The business must demonstrate they experienced a revenue decline of at least 20 per cent when comparing monthly revenue in April 2019 and April 2020. This time period was selected because it reflects the impact of the public health measures in spring 2020, and as such provides a representation of the possible impact of these latest measures on small businesses.

Businesses will be able to use the support in whatever way makes the most sense for them. For example, some businesses will use the support to pay employee wages, while others will need support maintaining their inventory.

Eligibility

To receive the grant, a small business must:

• Be required to close or restrict services subject to the Provincewide Shutdown effective 12:01 a.m. on December 26
• Have fewer than 100 employees at the enterprise level
• Have experienced a minimum of 20 per cent revenue decline comparing April 2020 to April 2019 revenues

Businesses that are not eligible include those that were already required to close prior to the introduction of modified Stage 2 measures, and essential business permitted to operate with capacity restrictions (e.g., discount and big box stores selling groceries, supermarkets, grocery stores, convenience stores, pharmacies, and beer, wine and liquor stores).

For small businesses not in operation in April 2019 or April 2020, eligibility criteria will be announced in January 2021.

Further details about the grant, including how to apply, will be available in January 2021.

Learn more: https://www.ontario.ca/page/businesses-get-help-covid-19-costs

Businesses can defer premium reporting/payments until August 31, 2020.

"To help reduce the financial burden of the COVID-19 pandemic on Ontario businesses, we provided the opportunity to defer premiums due between March to August 2020. While businesses may choose to make deferred premium payments at any point, to help further support businesses during this difficult time, repayment is not required to begin until January 2021.

All businesses that chose to participate in the financial relief package will have until June 30, 2021 to repay deferred amounts, interest-free. Deferred amount payments can be made in one or multiple installments between January and June 30, 2021."

Learn more: https://www.wsib.ca/en/financialrelief

The Canada Mortgage and Housing Corporation (CMHC) and other mortgage insurers offer tools to lenders that 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.

Learn more: https://www.cmhc-schl.gc.ca/en/finance-and-investing/mortgage-loan-insurance/the-resource/dealing-with-mortgage-payment-difficulties

Canada’s mortgage insurers are committed to providing homeowners with solutions to mitigate temporary financial hardship related to COVID-19. This includes permitting lenders to defer up to six monthly mortgage payments (interest and principal) for impacted borrowers. Deferred payments are added to the outstanding principal balance and subsequently repaid throughout the life of the mortgage.

The Government of Canada has a number of online resources available to help you manage your finances including Take Charge of Your Debts - an online tool designed to help you understand debt problems, and includes information on making a budget, budget counselling, collection agencies, credit, and credit repair.

The Government of Ontario is making funding available to support residential, small business and charitable organization customers that are struggling to pay their energy bills as a result of the COVID-19 emergency.

• Residential Customers: learn how to apply for the COVID-19 Energy Assistance Program (CEAP)
  Electricity and natural gas utilities and unit sub-meter providers began accepting applications for CEAP on July 13, 2020. You must apply for CEAP through your utility or USMP. Contact your utility or USMP directly as each may have a unique approach for application in-take.
• Small Business and Registered Charity Customers: learn how to apply for the COVID-19 Energy Assistance Program – Small Business (CEAP-SB)
  Electricity and natural gas utilities and unit sub-meter providers will begin accepting applications for CEAP-SB on August 31, 2020. You must apply for CEAP-SB through your utility or USMP. Contact your utility or USMP directly as each may have a unique approach for application in-take.

Learn more: https://www.oeb.ca/

LEAP:

Providing $9 million in direct support to families for their energy bills by expanding eligibility for the Low-income Energy Assistance Program (LEAP) and ensuring that their electricity and natural gas services are not disconnected for nonpayment during the COVID-19 outbreak.

Learn more: https://www.oeb.ca/rates-and-your-bill/help-low-income-consumers/low-income-energy-assistance-program 

The Government of Ontario is providing $9 million to support residential customers struggling to pay their energy bills as a result of COVID-19. The COVID-19 Energy Assistance Program (CEAP) is delivered directly by electricity and natural gas utilities and unit sub-meter providers (USMPs), further to rules laid out by the Ontario Energy Board (OEB).

CEAP is a one time, on-bill credit for eligible residential electricity and natural gas customers to help them catch up on their energy bills and resume regular payments.

Learn more: hydroone.com/about/corporate-information/maintaining-operations?utm_source=rm_btn&utm_medium=homepage&utm_campaign=customer_operations

Offering the following programs:

• COVID-19 Energy Assistance Program for Small Business (CEAP-SB)
• New COVID-19 Energy Assistance Program (CEAP)
• Support for Industrial & Commercial electricity consumers
• Recovery Rate
• 1-888-282-7711 ext. 228

Learn more: https://www.lakelandpower.on.ca/

The Province has expanded coverage for care by waiving the 3-month OHIP waiting period and will also be covering the cost of COVID-19 services for uninsured people who do not meet the criteria for OHIP.

Learn more: https://news.ontario.ca/mohltc/en/2020/03/ontario-expands-coverage-for-care.html

 CIBC

• 1-800-465-2422

Learn more: http://cibc.mediaroom.com/2020-03-17-Canadas-Six-Biggest-Banks-Take-Decisive-Action-To-Help-Customers-Impacted-by-COVID-19

Bank of Montreal

• Financial relief program ended on September 30, and we’ve stopped accepting new applications.

Learn more: https://www.bmo.com/main/personal/covid19-bmo-financial-relief-program/?icid=tl-ALTBAN2MTG1-HTBMO16

TD Bank

"If you are directly impacted by COVID-19 and as a result are facing financial challenges, we're offering solutions through our TD Helps financial relief programs. Through TD Helps, we are continuing to roll out personalized financial relief measures including deferrals on credit card payments, personal loans, automotive and recreational vehicle loans, and mortgages. We’re also helping with solutions that include reduced credit card interest rates and other relief measures."

• General Assistance Line: 1-888-751-9000

Learn more: https://www.td.com/ca/en/personal-banking/covid-19/financial-relief/

Tangerine

"Please note we are no longer accepting new Mortgage payment deferral requests."

• 1-888-826-4374

Learn more: https://www.tangerine.ca/en/landing-page/financialrelief

ScotiaBank

Financial relief applications closed September 30, 2020.

• 1-888-4-SCOTIA

Learn more: https://www.scotiabank.com/ca/en/personal/scotia-support/coronavirus-covid-19-updates.html#faqs

National Bank of Canada

"Although our support measures related to COVID-19 are discontinued, we remain available to help. If you’re having financial difficulties, make an appointment with your advisor. Together, we will find solutions that meet your needs."

• 1-888-835-6281

Learn more: https://www.nbc.ca/covid-19.html

RBC Royal Bank

"As Government Relief Programs change, and some Financial Relief Plans offered by RBC come to an end, rest assured that we will continue to work closely with you to provide the advice you need on an individualized basis.

Many clients are still facing financial challenges due to the economic impacts of COVID-19. While the Government of Canada continues to offer financial and economic support, we’ve also been reaching out to offer our help - to ask how clients are doing, answer any questions they may have about their personal finances and to see if we can help, as they manage through the weeks and months ahead."

• 1-800-769-2511

Learn more: https://www.rbc.com/covid-19/index.html?_ga=2.235378625.1354486326.1584645346-1592842410.1584645346

HSBC Bank of Canada

"Contact us to discuss the best option for your situation. Solutions may include lowering your regular payments by consolidating your HSBC unsecured borrowings, restructuring your mortgage, or payment deferrals"

• 1-800-310-4722

Learn more: https://www.hsbc.ca/customer-service/covid-19-update/

The 2021 assessment update (through MPAC) is being postponed; assessed values for 2021 will be based on the same valuation date as 2020

Learn more:http://www.amo.on.ca/AMO-Content/Policy-Updates/2020/March2020EconomicandFiscalUpdate

Government of Canada’s Coronavirus Information Line (7am-midnight, 7 days a week)

• Call: 1-833-784-4397

Learn more: https://www.canada.ca/en/public-health/services/diseases/2019-novel-coronavirus-infection/canadas-reponse/government-canada-takes-action-covid-19.htm

Canada’s Economic Response Plan is now online. Includes list of available Federal aid and links to the applicable websites:

211 - Community Resource Listing

211 is a helpline and online database of Ontario's community and social services. 211 is answered and updated by highly-trained specialists. Website: https://211ontario.ca/

For information and referrals for community, government, social and health services, including mental health resources across Ontario, call 211 or 1-877-330-3213.

Legislation to provide job protected leave to employees in isolation or quarantine due to COVID-19, or those who need to be away from work to care for children because of school or day care closures. 

Learn more: https://news.ontario.ca/opo/en/2020/03/premier-ford-announces-job-protection-for-workers-during-the-covid-19-situation.html

Products that expired on or after March 1, 2020, have an extended expiry date until further notice. We will notify you when it is time to renew.

This includes your:

• licence plate sticker
• driver’s licence
• health card
• Ontario Photo Card
• accessible parking permit
• many more products

Learn more: https://www.ontario.ca/page/serviceontario-covid-19-coronavirus-response