Canada Emergency Response Benefit
To apply for the Canada Emergency Response Benefit, applications will start April 6, 2020 (16 weeks duration, for now) through the CRA My Account Portal, applications will be accepted as follows:
Applicant Application start date
For individuals with birth months of January, February and March – April 6, 2020
For individuals with birth months of April, May and June – April 7, 2020
For individuals with birth months of July, August and September – April 8, 2020
For individuals with birth months of October, November, December – April 9, 2020
Every four weeks individuals must go online and update their status in order to receive benefits for the next 4 weeks. The Federal government has indicated that the funds will be deposited to your account within 3-5 business days (direct deposit) and for regular mail 10 days.
All individuals who are planning to apply for this benefit should ensure that they have a My Account set up at the CRA.
The following is the link to the My Account website for Individuals:
75% wage subsidy
A 75% wage subsidy (3 months duration, for now) is available for those businesses who have a 30% decrease in revenue compared to the same period of 2019. Employers are to pay employees as normal and then through the CRA My Business Account portal provide proof of payment to the employee as well as proof of drop in revenue. CRA will directly deposit the subsidy to employers’ bank accounts if direct deposit information is provided or by mail. The maximum subsidy is $847 per worker per week.
Note: The Federal Government has indicated that they are putting complete trust in businesses and any fraudulent activity will be severely penalized.
The following is the link to the CRA website MY Business Account: https://www.canada.ca/en/revenue-agency/services/e-services/e-services-businesses/business-account.html