Each year I help over 500 clients file their Canadian and US tax returns as well as plan for both their Canadian and US investment accounts. I also regularly help new US clients plan for their move to Canada.
UPDATED 03/26/2020 – please see attached the COVID-19 emergency response act. Highlights include:
- Personal tax measures
- Corporate tax measures
- Other tax measures
Today Prime Minister Justin Trudeau unveiled a $2,000 a month benefit for those workers affected by the COVID-19 pandemic.
Information on the new Canada Emergency Response Benefit can be viewed here.
Please note the following “Canadians who are already receiving EI regular and sickness benefits as of today would continue to receive their benefits and should not apply to the CERB”
Eligible Canadian workers that have lost income due to the pandemic will receive $2,000 a month for the next 4 months. The government outlined that these benefits will be available to those that don’t qualify for employment insurance.
In order to apply for this benefit Canadian workers will need to apply via a new portal established by the government. They expect this online portal to be launched shortly. According to the government, those applying will be able to receive money within ten days of the application.
NDP leader Jameet Singh welcomed the news, however he suggested a further $250 per child amount in addition to what was announced today.
The website address of the new portal is yet to be announced, however when it becomes public we will outline it here in addition to more details as they become available.
Stay tuned for more info.