CANADIAN RESOURCES

For over 12 million low- and modest-income families, who may require additional help with their finances, the Government is proposing to provide a one-time special payment by early May 2020 through the Goods and Services Tax credit (GSTC).

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Canadian banks have committed to work with their customers on a case-by-case basis to find solutions to help them manage hardships caused by COVID-19. Canadians who are impacted by COVID-19 and experiencing financial hardship, as a result, should contact their financial institution regarding flexibility for a mortgage deferral. This allows flexibility to be available − when needed − to those who need it the most.

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• A moratorium on the repayment of Canada Student Loans

• A new Indigenous Community Support Fund
• Enhancing the Reaching Home initiative
• Support for women’s shelters and sexual assault centres

• The new Canada Emergency Response Benefit (CERB)

• The new Canada Emergency Response Benefit (CERB)
• Improved access to Employment Insurance sickness benefits.

As news around COVID-19 continues to evolve at a rapid-fire pace and uncertainty looms over seemingly everything, it’s easy to feel overwhelmed.

Read more: https://www.cbc.ca/news/canada/british-columbia/feeling-helpless-in-the-wake-of-covid-19-here-are-6-things-you-can-do-1.5507376

• Establishing a Business Credit Availability Program

• Launching an Insured Mortgage Purchase Program
• Bank of Canada actions
• Lowering the Domestic Stability Buffer