FINANCIAL SUPPORT FOR INDIVIDUALS
EMPLOYEE INSURANCE (EI) PROGRAM
We made temporary changes to the Employment Insurance (EI) program to better support Canadians who need financial assistance. As of September 27, 2020, the minimum benefit rate for EI regular claimants is $500 per week before taxes in most cases.
If you are not eligible for EI or if you’ve received the maximum number of weeks of EI regular benefits, you may be eligible for the new benefits:
- Canada Recovery Benefit (CRB)
- Canada Recovery Sickness Benefit (CRSB)
- Canada Recovery Caregiving Benefit (CRCB)
- If you’ve received this benefit in 2020, learn how to report it for your tax return.
CANDA RECOVERY BENEFIT (CRB)
The CRB provides $500 ($450 after taxes withheld) per week for up to 26 weeks for workers who:
- are not employed or self-employed for reasons related to COVID-19 or have had their income reduced by at least 50% due to COVID-19
- are not eligible for Employment Insurance (EI)
- meet all the eligibility criteria for period they’re applying for
CANADA RECOVERY SICKENESS BENEFIT
The CRSB provides $500 ($450 after taxes withheld) per week for up to a maximum of two weeks, for workers who:
- Are unable to work for at least 50% of the week because they contracted COVID-19
- Are self-isolated for reasons related to COVID-19
- have underlying conditions, are undergoing treatments or have contracted other sicknesses that, in the opinion of a medical practitioner, nurse practitioner, person in authority, government or public health authority, would make them more susceptible to COVID-19.
CANADA RECOVERY CAREGIVING BENEFIT (CRCB)
The CRCB provides $500 ($450 after taxes withheld) for up to 26 weeks per household for workers:
- unable to work for at least 50% of the week because they must care for a child under the age of 12 or family member because schools, day-cares or care facilities are closed due to COVID-19
- because the child or family member is sick and/or required to quarantine or is at high risk of serious health implications because of COVID-19.
MORTGAGE PAYMENT DEFERRAL
Homeowners facing financial hardship may be eligible for a mortgage payment deferral.
The deferral is an agreement between you and your lender. Typically, the agreement indicates that you and your lender have agreed to pause or suspend your mortgage payments for a certain amount of time. After the agreement ends, your mortgage payments return to normal and the deferred payments — including principal and accumulated interest – are added to the outstanding principal balance and subsequently repaid throughout the life of the mortgage.
To know if you are eligible for a mortgage payment deferral or to learn what options are available, contact your lender — your bank or your mortgage professional.
PROVINCIAL & TERRITORIAL SUPPORT
Other supports may be available to you in your province or territory
- British Columbia
- New Brunswick
- Newfoundland and Labrador
- Northwest Territories
- Nova Scotia
- Prince Edward Island
FINANCIAL SUPPORT FOR BUSINESSES
CANADA EMERGENCY BUSINESS ACCOUNT (CEBA) INTEREST-FREE LOANS
The Canada Emergency Business Account (CEBA) provides interest-free, partially forgivable, loans of up to $60,000, to small businesses and not-for-profits, that have experienced diminished revenues due to COVID-19 but face ongoing non-deferrable costs, such as rent, utilities, insurance, taxes and wages.
We have recently expanded CEBA to include an additional interest-free $20,000 loan, 50% of which would be forgivable if repaid by December 31, 2022.
This means the additional loan effectively increases CEBA loans from the existing $40,000 to $60,000 for eligible businesses, of which a total of $20,000 will be forgiven if the balance of the loan is repaid by December 31, 2022.
CANADA EMERGENCY RENT SUBSIDY (CERS)
The Canada Emergency Rent Subsidy (CERS) provides a direct and easy-to-access rent and mortgage subsidy of up to 65% of eligible expenses to qualifying businesses, charities and non-profits. This support is available directly to tenants.
Qualifying organizations that have been significantly restricted by a mandatory public health order issued by a qualifying public health authority can receive an additional 25% of rent support through the Lockdown Support.
The combined effect of the rent subsidy and the Lockdown Support is that hard-hit businesses, non-profits and charities subject to a lockdown can receive rent support of up to 90%.
The government has announced a proposed extension of the current CERS and Lockdown Support rate until June 5, 2021.
HIGHLY AFFECTED SCTORS CREDIT AVAILABILITY PROGRAM (HASCAP)
The Highly Affected Sectors Credit Availability Program (HASCAP) provides businesses heavily impacted by COVID-19, access guaranteed, low-interest loans of $25,000 to $1 million to cover operational cash flow needs.
HASCAP is available to businesses that operate in sectors such as tourism and hospitality, restaurants and those that primarily rely on in-person services.
The program is available at some participating financial institutions. Other participating financial institutions will deploy the program progressively over the days that follow.
LOAN GUARANTEE FOR SMALL AND MEDIUM-SIZED ENTERPRISES
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 support is available until June 2021.
CO-LENDING PRGRAM FOR SMALL & MEDIUM-SIZED ENTERPRISES
Through the Business Credit Availability Program, Business Development Canada (BDC) is working with financial institutions to co-lend term loans of up to $6.25 million to SMEs for their operational cash flow requirements.
The program offers differing maximum finance amounts based on business revenues.
This support is available until June 2021.
REGIONAL RELIEF & RECOVERY FUND (RRRF)
We are providing over $1.5 billion through the Regional Relief and Recovery Fund (RRRF) to help more businesses and organizations in sectors such as manufacturing, technology, tourism and others that are key to the regions and to local economies. This fund is specifically targeted to those that may require additional help to recover from the COVID-19 pandemic, but have been unable to access other support measures.
BLACK ENTERPRISE LOAN FUND
We are supporting Black business owners and entrepreneurs through the Black Entrepreneurship Loan Fund that will provide loans of between $25,000 and $250,000.
The Loan Fund will begin accepting applications in May 2021.
MID-MARKET FINANCING PROGRAM
Through the Business Credit Availability Program, the Business Development Canada’s (BDC) Mid-Market Financing Program will provide commercial loans ranging between $12.5 million and $60 million to medium-sized businesses whose credit needs exceed what is already available through the Business Credit Availability Program and other measures.
BDC anticipates that qualifying companies will have annual revenues in excess of approximately $100 million.
This support is available until June 2021.
MID-MARKET GUARANTEE AND FINANCING PROGRAM
Through the Business Credit Availability Program, EDC’s Mid-Market Guarantee and Financing Program will bring liquidity to companies who tend to have revenues of between $50 million to $300 million, to sustain operations during this uncertain period. EDC will continue to work with Canadian financial institutions to guarantee 75 % of new operating credit and cash-flow loans – ranging in size from $16.75 million to a maximum of $80 million.
These expanded guarantees are available to exporters, international investors and businesses that sell their products or services within Canada.
LARGE EMPLOYER EMERGENCY FINANCING FACILITY (LEEFF)
The Large Employer Emergency Financing Facility (LEEFF) provides bridge financing to Canada’s largest employers, whose needs during the pandemic are not being met through conventional financing, in order to keep their operations going.
The additional liquidity provided through LEEFF allows Canada’s largest businesses, their workers and their suppliers to remain active during this difficult time, and position them for a rapid economic recovery.
This program is delivered by the Canada Development Investment Corporation, in cooperation with Innovation, Science and Economic Development Canada and the Department of Finance.
RELIEF MEASURES FOR INDIGENOUS BUSINESS
We are providing $306.8 million in funding to help small and medium-sized Indigenous businesses, and to support Aboriginal Financial Institutions that offer financing to these businesses.
The funding will allow for short-term, interest-free loans and non-repayable contributions through Aboriginal Financial Institutions, which offer financing and business support services to First Nations, Inuit, and Métis businesses.
Financial support for Indigenous businesses will be provided through Aboriginal Financial Institutions, and administered by the National Aboriginal Capital Corporations Association and the Métis capital corporations in partnership with Indigenous Services Canada.
SUPPORTING BUSINESS THROUGH THE PANDEMIC AND INTO RECOVERY
We are providing non-repayable financial contributions to help support operating costs for First Nation, Inuit and Métis community-or collectively-owned businesses and microbusinesses whose revenues have been affected by the COVID-19 pandemic.
The fund seeks to provide support for businesses that do not qualify for other Government of Canada COVID-19 relief measures.
CANADA EMERGENCY WAGE SUBSIDY (CEWS)
We are covering up to 75% of an employee’s wages for qualifying eligible employers to keep and re-hire employees and avoid layoffs.
The government has announced a proposed extension of the current CEWS rates until June 5, 2021.
EXTENDING the WORK-SHARING PROGRAM
We have extended the maximum duration of the Work-Sharing program from 38 weeks to 76 weeks for employers affected by COVID-19. This measure will provide income support to employees eligible for Employment Insurance who agree to reduce their normal working hours because of developments beyond the control of their employers.
1) This notice provides information on the Certain Goods Remission Order (COVID-19), SOR-2020-101, which allows for the relief of customs duty for eligible goods which were imported on or after . This relief can be claimed at the time of importation or within two years of the date of importation.
2) Appendix A provides a list and description of goods based on tariff classification which are eligible for relief under this Order. Appendix B provides a list of other medical supplies that are not subject to this Order as they are already eligible for Most-Favoured Nation duty-free tariff treatment
3) The administration of this remission order is the responsibility of the Canada Border Services Agency (CBSA).
4) Remission is granted for goods listed in the Certain Goods Remission Order (COVID-19), SOR-2020-101, under the following conditions:
- a) the good was imported into Canada on or after and subject to customs duties;
- b) no other claim for relief of the customs duties has been granted under the Customs Tariff in respect of the good;
- c) the importer files, on request, the evidence or information that the Canada Border Services Agency requires to determine eligibility for remission;
- d) the importer agrees that it is subject, at any time, including after remission relief is provided, to review by the Canada Border Services Agency for the purpose of determining whether the information supplied by the importer under paragraph (c) is accurate and complete and whether the facts on which the Canada Border Services Agency relied or intends to rely to determine the eligibility for remission remain unchanged in all material respects; and
- e) at the time when the Canada Border Services Agency conducts the review referred to in paragraph (d), the Canada Border Services Agency must be able to conclude that the information supplied remains accurate and complete and that the facts remain unchanged in all material respects.
5) All claims for relief of customs duties under the remission order for these goods must also include all relevant documents (e.g. copy of original Form B3-3, bill of lading, sales invoice, waybill, sales contract, etc.) that demonstrate that the imported good matches the list of goods in Appendix A, was imported into Canada on or after and subject to customs duties.
How to Apply
6) In respect of commercial goods, to obtain relief of customs duties at time of import, special authorization code 20-304 is to be entered in field 26 – Special Authority of Form B3-3.
7) Casual goods, at time of import, Form BSF715 or BSF715-1 Casual Goods Accounting Document, for the accounting of goods subject to this remission order, will be prepared according to standard procedures without collection of duty.
Examinations and Verifications
8) Importations may be subject to examination at the time of importation and to post-release verification for compliance with the Tariff Classification, Valuation, Origin and Marking programs, and any other applicable programs or provisions administered by the CBSA. If non-compliance is encountered by the CBSA, in addition to assessments of any applicable customs duties and taxes, penalties may be imposed and interest will be assessed, where applicable.
Corrections, Re-Determinations, and Refunds
9) Where the remission order is applicable, and an overpayment of customs duty has been identified on commercial importations, Form B2, Canada Customs – Adjustment Request may be filed in a regional CBSA office requesting a refund of the overpaid amount under section 74(1)(g) of the Customs Act. Please refer to Memorandum D17-2-1, The Coding, Submission and Processing of Form B2 Canada Customs Adjustment Request, for additional information on completing Form B2.
10) The CBSA may re-determine or further re-determine the origin, tariff classification, and/or value for duty on its own initiative or in response to a self-adjustment. The CBSA may assess any undeclared amount of customs duty that is not eligible.
11) A Blanket B2 request may be submitted to request a refund of customs duties on more than 25 transactions. For the procedures surrounding the preparation and presentation of Blanket B2 Adjustment Requests, please refer to Memorandum D17-2-4, Preparation and Presentation of Blanket B2 Adjustment Requests.
12) Where the remission order was applicable and customs duty has been paid on non-commercial importations, Form B2G, Informal Adjustment Request may be sent to one of the CBSA’s five casual refund centres, in accordance with the instructions outlined in Memorandum D6-2-6, Refund of Duties and Taxes on Non-Commercial Importations.
13) For more information on the administration of the Certain Goods Remission Order (COVID-19), within Canada call the Border Information Service at 1-800-461-9999. From outside Canada call 204-983-3500 or 506-636-5064. Long distance charges will apply. Agents are available Monday to Friday (08:00 – 16:00 local time / except holidays). TTY is also available within Canada: 1-866-335-3237.
Goods eligible for relief under the Certain Goods Remission Order (COVID-19)
*The descriptions below are for illustrative purposes only. Customs duty relief is applicable to all goods under these tariff items.
EDC BUSINESS CREDIT AVAILABILITY PROGRAM (BCAP) GUARANTEE
Who can apply
If your business needs access to working capital to cover operational costs as a result of the COVID-19 pandemic, you may be eligible for the EDC BCAP Guarantee. This guarantee is for new operating lines of credit or new term loans to support your cash flow needs.