Canada’s COVID-19 Economic Response Plan

Pospischil Realty Group has gathered some important links and information to help our valued clients out in sorting through the news and uncertainty with helpful resources to get you and your family through this pandemic shut down.

The Government of Canada is taking immediate action to help Canadians facing hardship as a result of the COVID-19 outbreak.

• Increasing the Canada Child Benefit
• Special Goods and Services Tax credit payment
• Extra time to file income tax returns
• Mortgage support
• The new Canada Emergency Response Benefit (CERB)
• Apply for Employment Insurance
• Improved access to Employment Insurance sickness benefits
• A moratorium on the repayment of Canada Student Loans
• Extending the Work-Sharing program
• Providing small business with wage subsidies
• Establishing a Business Credit Availability Program
• Offering a guarantee on loans
• Launching an Insured Mortgage Purchase Program
• Bank of Canada actions
• Lowering the Domestic Stability Buffer
• More time to pay income taxes
• Wage subsidy programs for employers
• Emergency Business Account

Find out more on all of this at the Government of Canada Website, click here.

• Temporary emergency funding is is available for child care centres
• K-12 learning is suspended in all classrooms
• Most post-secondary education is now being delivered online
• B.C. student loan payments are frozen for six months until September 30, 2020
• The Government of Canada has paused the repayment of Canada Student Loans until September 30, 2020, with no accrual of interest
• The BC Emergency Benefit for Workers provides a one-time $1,000 payment for people who lost income
• A one-time enhancement to the climate action tax credit will be paid in July 2020 for moderate to low-income families
• Employers must excuse workers for sickness without requiring a doctor’s note
• Taking unpaid, job-protected leave due to COVID-19
• Government of Canada support for workers
• WorkSafeBC resources for workers
• Some provincial taxes have been deferred, delayed or reduced
• What you must do if employees fall ill, are absent from work or your business is unexpectedly disrupted
• Economic resources for businesses
• Government of Canada support for businesses
• WorkSafeBC resources for employers
• Support for renters and landlords include a new temporary rental supplement, halting evictions and freezing rents
• BC Housing has temporarily suspended evictions of tenants in subsidized and affordable housing
• BC Hydro customers can defer payments or access grants to help pay their hydro bills

We are all in this together!  Let us know if we can help with any matters regarding your real estate and property.