Newmarket-Aurora MP Tony Van Bynen provides updates and answers to your questions regarding the federal government's measures to address the COVID-19 pandemic. He welcomes your questions at [email protected]
Will the tax deadline be extended? *Updated*
- Yes, the tax filing deadline will be extended for individuals to June 1, and allow all taxpayers to defer until after Aug. 31, 2020 the payment of any income tax amounts that become owing on or after today and before September 2020. This relief would apply to tax balances due, as well as instalments, under Part I of the Income Tax Act. No interest or penalties will accumulate on these amounts during this period.
Will the tax deadline be extended for businesses? *Updated*
- Yes, businesses will be allowed to defer until after Aug. 31, 2020 the payment of any income tax amounts that become owing on or after today and before September 2020. This relief would apply to tax balances due, as well as instalments, under Part I of the Income Tax Act. No interest or penalties will accumulate on these amounts during this period. This measure will result in businesses having more money available during this period.
I have student loans and don’t think I am going to be able to make my payments. Do I still have to pay my Canada Student Loan?
- We have implemented a six-month, interest-free, moratorium on Canada Student Loan payments for all individuals who are in the process of repaying these loans.
I am worried I am not going to be able to pay my mortgage payment
- The six largest financial institutions have made a commitment to work with personal and small business banking customers on a case-by-case basis to provide flexible solutions to help them manage through challenges due to COVID-19.
- As a first step, this support will include up to a six-month payment deferral option for mortgages, and the opportunity for relief on other credit products.
Are there measures to support seniors?
- Our government recognizes that seniors are worried about the impact of COVID-19. First and foremost, their health and safety is our top priority.
- We are proposing to provide a special top-up payment through the GST credit that would double the maximum. This measure would be available as of May 2020. This credit top-up would mean close to $400 for single adults and $600 for couples.
- We have reduced the minimum withdrawals from Registered Retirement Income Funds (RRIFs) by 25 per cent for 2020 in recognition of volatile market conditions and their impact on many seniors’ retirement savings. This will provide flexibility to seniors who are concerned they may be required to liquidate their RRIF assets to meet minimum withdrawal requirements. We will continue to monitor this issue as markets evolve.
What support is being made available for families and individuals?
- Emergency Care Benefit of up to $900 bi-weekly for up to 15 weeks to provide income support to workers who must stay home and do not have access to paid sick leave.
- Workers, including the self-employed, who are sick, quarantined, or who have been directed to self-isolate but do not qualify for Employment Insurance (EI) sickness benefits.
- Workers, including the self-employed, who are taking care of a family member who is sick with COVID-19, such as an elderly parent or other dependents who are sick, but do not qualify for EI sickness benefits.
- EI-eligible and non EI-eligible working parents who must stay home without pay because of children who are sick or who need additional care because of school closures.
- Waive, for a minimum of six months, the mandatory one-week waiting period for EI sickness benefits for workers in imposed quarantine or who have been directed to self-isolate, as announced on March 11.
- Waive the requirement for a medical certificate to access EI sickness benefits.
- We are increasing the maximum annual Canada Child Benefit by $300 per child for the 2019-20 benefit year.
- We are also proposing to provide a special top-up payment through the GST credit that would double the maximum credit for over 12 million families, and inject $5.5 billion into the economy. This measure would be available as of May 2020. This credit top-up would mean close to $400 for single adults and $600 for couples. Taken together, these enhancements would give a single parent with two children up to $1,500 in additional short-term support.
How do I apply for EI benefits?
- To apply for EI benefits, please call: Call 1-800 O Canada (622-6232) or visit www.canada.gc.ca
What are you doing to address wait times for Service Canada and ensure that all Service Canada Centres exercise safety measures that limit the spread of COVID-19?
- The health and safety of Service Canada employees, who help provide Canadians with essential services, is of the utmost concern.
- Our government has been working with Service Canada officials to put in place a number of measures, including social distancing and the use of protective equipment.
- We are working with all offices and employees to ensure the effective implementation of these safety measures, and we will continue to do so.
- This is a difficult time for Canadians. We continue encouraging those who are in need of support to visit www.Canada.ca/EI, where they can apply for and access information on new EI programs in response to COVID-19.
- We are encouraging all Canadians to use the online application portal and online resources when possible to reduce traffic to Service Canada offices and phone lines.
