A few days ago the federal government announced the new Canada Emergency Rent Subsidy to help businesses cover their rent due to the continued financial crisis caused by the COVID-19 pandemic. This was good news to the many businesses struggling to stay afloat. What is this new program?
New Canada Emergency Rent Subsidy (CERS) Replaces CERCA Program
The New Canada Emergency Program (CERS) will replace the old Canada Emergency Commercial Rent Assistance Program (CECRA) which ended on September 26, 2020. The biggest change between the two programs was that under the old CECRA program the commercial landlords had to apply for the program for businesses that needed rent relief. And they were under no obligation to apply, often leaving tenants in a very difficult situation.
However, under the New Canada Emergency Rent Subsidy Program, the government will now directly help the businesses and organizations who need relief. This means that businesses can apply to the program themselves and no longer need their landlords to apply. So what are the details of the program?
Details of Canada Emergency Rent Subsidy Program (CERS)
The program so far is thin on details and even on the government’s website it says that more information will be coming soon. But from the government’s news release on October 9, 2020 and other reports, here’s what has been shared so far. The new rent subsidy will support businesses, charities and non-profits that have suffered revenue drops by subsidizing a percentage of their expenses on a sliding scale, up to a maximum of 65 per cent of eligible expenses. This will last until December 19, 2020.
In addition to the rent subsidy, there will be a top-up of 25 percent available for organizations that have been temporarily shut down by a mandatory public health order.
When Will it Start? Conclusion – CERS for Business owners
There was no indication of when businesses and organizations can apply for this new program. However, when it does finally start, applicants can apply for their subsidy to start retroactively as of September 27, 2020. Once the government announces when people can apply, we will provide an update.
The new wage subsidy program is a potential relief for businesses and organizations that are struggling to survive during these unprecedented times. Hopefully, more details will become available shortly as the situation is dire for many businesses. And with COVID-19 cases on the rise again, the financial future seems more uncertain than ever. Stay safe.
When will new COVID-19 recovery benefits start? The government announced this week that Canadians can start applying for two of the new recovery benefits as of October 5, 2020. The two new recovery benefits are the Canada Recovery Sickness Benefit (CRSB) and the Canada Recovery Caregiving Benefit (CRCB). The third new recovery benefit, the Canada Recovery benefit will start as of October 12, 2020. These three benefits and the new EI benefits replace the Canada Emergency Response Benefits that Canadians were receiving due to the COVID-19 pandemic.
When Will New COVID-19 Recovery Benefits Start? A Quick Summary of New Benefits
The Canada Recovery Sickness Benefit (CRSB) will provide $500 per week (taxable, tax deducted at source) 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, self-isolated for reasons related to COVID-19, or 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. This benefit will be paid in one-week periods.
Canada Recovery Caregiving Benefit (CRCB)
The Canada Recovery Caregiving Benefit (CRCB) will provide $500 per week (taxable, tax deducted at source) 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, or 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. This benefit will be paid in one-week periods.
Canada Recovery Benefit (CRB)
The Canada Recovery Benefit will provide eligible workers with $500 per week (taxable, tax deducted at source) for up to 26 weeks for those who have stopped working and who are not eligible for EI, or had their employment/self-employment income reduced by at least 50% due to COVID-19. This benefit will be paid in two-week periods.
When will the new COVID-19 recovery benefits start? Both the Canada Recovery Sickness Benefit (CRSB) and the Canada Recovery Caregiving Benefit (CRCB) start as of October 5, 2020. The Canada Recovery Benefit (CRB) will start as of October 12, 2020. Hopefully these new benefits will provide further help to Canadians who are struggling due to the pandemic. Only time will tell. Stay safe everyone.
Hello Canadian bargain finders, deal hunters and all around money savers! We are back for another one of our famous editions of: “How many points can I get this week?” And of course, we are talking about PC optimum points, the points card that earns you mega points at both Superstore and Shoppers Drug Mart. (When there are extra bonus points to be had at Wellwise or Wellwise.ca, we also include those deals, too.)
So, let’s waste no more time, and get right on to the deals! And, as always, remember that 10,000 points equals $10 of free stuff.
PC Optimum Points at Shoppers Drug Mart this week (Sales at Shoppers)
Shoppers Drug Mart usually has the most bonus PC Optimum offers, and so we always start off there! We also break down the bonus points deals into categories, hopefully making it easier for you to find which deals you want to use this week to load up the points! Woohoo!! All offers at Shoppers Drug Mart are in effect from Saturday, October 3, 2020 to Thursday, October 8, 2020.
Shoppers Drug Mart CONTEST Starts this week – the Scan Your App Contest – Runs from October 1-31, 2020
I just have to mention this first, because I LOOOOVE a good Canadian contest! You know, that means one that we Canadians can enter, too! Shoppers is running a Scan Your App contest! You could win 1 million PC Optimum points! (Wow, I feel nearly faint at how cool that would be to win. What would YOU spend the points on!?) Okay, and I’ll try to actually write a sentence now without an exclamation point at the end of it. 😉
To enter, simply scan your Shoppers Drug Mart or PC Optimum app on your next in-store or online purchase, and you are automatically entered to win.
20x the Points Event – 20x the bonus points offer waiting on your PC Optimum App OR Shoppers Drug Mart app
Load your bonus points offer on the PC Optimum App! Open your Shoppers Drug Mart OR PC Optimum app OR
Click load offer in your weekly email OR
Text 20X to 736-898
This offer is single-use only. It may not be used multiple times. Offer also available for us at Wellwise store locations, but not online at Wellwise.ca.
Shoppers Drug MART Seniors’ Day – THURSDAY, OCTOBER 8, 2020
Yay! Another awesome seniors day event at Shoppers this month. This month it will occur on Thursday, October 8, 2020. So you savvy seniors can save more that day.
Save 20% with a PC Optimum card on almost all regular priced merchandise. Time to stock up!
Health and Beauty offers
Aspirin or Aleve – Painkillers on sale for up to 25% off each AND Buy 2 get 2500 points.
Bentasil throat lozenges/cough drops – $3.49 each and get 200 points
CREST 3D Vivid whitestrips (10 pack), Oral-B vitality power toothbrush, or replacement brush heads for the Oral-B Vitality power brush. $21.99 each AND buy 2 get 10,000 points
Loreal shampoo, conditioner (385 ml size) OR Head and Shoulders hair care products – Buy 2 get 3000 points
Physician’s Formula cosmetics or skin care products. Selected types. Get 20x the points.
Quo Beauty – eye implements such as eyelash curlers and tweezers! Sale of up to 15% off and buy $25 worth and get 5000 points
Revlon beauty implements – things like eyelash curlers AND tweezers AND nail files. Buy 2 get 2500 points.
Sesame Street OR Weber Naturals multivitamins – Selected types and sizes – Buy 2 get 5000 points
St. Ives skin care products – includes lotion and their famous Apricot facial scrub, along with lots of other products – Buy 2 get 3000 points
Tampax multipack tampons (54’s), panty liners (92 to 162 in a box), or Always pads (27’s to 52’s) Get 5 x the points
Tweezerman products – Only some of the best eyebrow tweezers on planet earth! – Get 20x the points
U by Kotex – Liners (129’s) or pads (28’s to 44’s) – $6.99 and buy 2 get 2000 points
Household and Cleaning Offers
Ivory or Dawn liquid dish detergent (dish soap) – Selected sizes – Get 1500 points
Luxury Beauty, Skincare and Fragrances at Shoppers – PC points offers
Avene hydrance skin care products – Their line includes items such as Optimale rich hydrating cream, aqua gel, or Intense Rehydrating Serum. Buy 2 get 8000 points
Filorga All about Eyes skin care products. Get 10,000 points
La Roche Posay Lipikar skin care products. This line is particularly for those with extra sensitive skin because of having Eczema. Includes products like anEczema care lotion, and an Eczema care body wash that is also for sensitive skin. Fragrance free.
PC Optimum Points offers and bonuses at SUPERSTORE this Week
And now we will venture on to Real Canadian Superstore to see what offers they have in store for us this week. Mega points, hopefully! Offers at Superstore are in effect from Friday, October 2, 2020 to Thursday, October 8, 2020
Special offers at Superstore this week – MEGA Deals
For the MOST possible points, there is an awesome deal this week! If you spend $300 or more at Superstore – either in store or through PC Express grocery pick up or delivery – you will get 30,000 points. That’s like $30 of free stuff. Oh yeah!
Bonus points on BABY STUFF & Diapers
Johnson’s Baby care items – For every $10 spent, get 2500 points. This includes items like Johnson’s baby wash, baby lotion, Johnson’s baby oil, etc. On assorted varieties in sizes from 50ml-1000 ml. Good time to stock up on baby necessities and get some points!
Bonus points on FINANCIAL products (PC Financial) – PC Money Account Bank Account
Introducing the new PC Money Account by PC Financial. Sign up for this bank account, and you’ll earn 10 PC Optimum points for every dollar you spend ANYWHERE. No monthly fee.
Sign up bonus of 50,000 points – that’s like $50 of free stuff.
Does anyone bank currently with PC Financial? How do you find them? Any coments to share? This does seem like a pretty sweet way to earn some extra points, but only if you need to sign up for a bank account. They say you can find out more information by visiting them at https://pcfinancial.ca (Not an affiliate link, just handy so you can decide if this new type of bank account might be right for you and your family.)
Bonus points on GROCERIES AND FOOD
Bull’s Eye BBQ Sauce (barbecue sauce) – Only $1.97 each AND get 500 bonus points
Dare Cookies and Treats – like Bear Paws, Bear Paws sandwich cookies, Wagon Wheels, and Whippets – $2.00 each and get 200 points
General Mills cereal, large family size boxes – Only $4.74 each and get 1000 points on each box
Kraft Miracle Whip sandwich dressing – 650-850 ml size jars – $2.97 and get 500 bonus points
Kraft Salad dressings – assorted types and flavours in the 475 ml bottles 500 bonus points
San Pellegrino beverages and sparkling water – For every $10 spent on San Pellegrino get 4000 point back. Wow, that’s an impressive deal! Time to stock up on their lovely sparkling drinks.
SunRype 100% pure juice – selected varieties – 900 ml size – Only $1.25 each with a limit of 4 and get 200 points
Sun Rype Good Bites healthy/all natural snacks – They’re like mini macaroons, but made with healthy ingredients like coconut and dates. I’ve tried the chocolate ones and they are SO GOOD. (Has anyone tried the coconut macaroon variety yet?) Yummers. $3.48 each with a limit of 6 bags and then the price goes to $3.98. Get 500 points on each
Bonus points on HEALTH & BEAUTY Products
Caprina Goat’s milk foam baths – different varieties, such as a lovely lavender kind – $3.98 each and get 500 points
Colgate adults or kids’ battery operated toothbrushes – The kids’ ones are in cute and popular varieties, such as Minions. (Hey, can adults use that one? It’s adorable! haha) Also, Colgate mouthwash in the 515 ml – 1 liter size bottles – $4.98 with a limit of 4. (Over limit price is $6.28). 1000 bonus points each
Colgate super premium toothpaste – such as Optic White OR Colgate manual toothbrushes (non-electric toothbrush) – $3.98 each AND get 800 bonus points
When you spend $30 on GSK (GlaxoSmithKline) products, and get 5000 points. Some of the products by GSK are: Voltaren emulgel, Advil painkillers – both the regular size and new mini-gels, or regular liqui-gels, Robax muscle relaxant caplets, Buckley’s cough and cold syrup and capsules, Emergen-C vitamin C packets, Centrum multi vitamins.
Superstore CONTEST – Scan Your App Contest – Win 1 million PC Optimum Points
Just like Shoppers, Superstore is running an awesome contest this month. And the best bit is that you just have to scan your app in order to enter! To enter: simply scan your PC Optimum app in store OR log in to your account with your next online purchase. You’re automatically entered once you scan your app! You could win 1 million points! Contest runs from October 1 to October 31, 2020. A total of 50 prizes are available to be won – 1 million points equals $1000 of free stuff.
That would be awesome! What a fun shopping trip that would be – off to spend 1 million points. I don’t know about you, but I’d load up on essentials like chocolate.
Loading up on PC Points – Conclusion
Well, it’s been another excellent week of hunting down the very best ways to earn more points at Superstore and Shoppers this week. Plus, that contest looks great! And it’s so easy – you just scan your app to enter, which means a lot of us will be entered. If you happen to win, please let us know!
Have a wonderful week, and we hope our research helped you plan out your shopping this week. Stay safe and take care everyone. 🙂
This post contains affiliate links. This means we may earn a small commission on sales made through those links, at no extra cost to you. Thank you.
CERB will be replaced by a new EI program and three transitional programs CRB, CRSB, and CRCB. I wrote a previous article regarding these programs, which I’ve linked to at the bottom of the page. However, there are some slight changes to the programs since the government’s throne speech on September 23, 2020. Let’s highlight some of these details below.
If you were on the Canada Emergency Response Program (CERB) when it ended September 26, 2020, you will either be transitioned to or have to apply for EI benefits if you qualify for it. For example, if you applied for CERB through Service Canada, you will automatically be set up for EI benefits if you qualify. If you applied for CERB through CRA (Canada Revenue Agency), then you will have to apply for EI benefits after September 26, 2020.
The main criteria for EI is that someone has worked at least 120 insurable hours of employment in last 52 weeks. This criteria is for both regular EI benefits and Special benefits. The rate one will receive has been increased to at least $500 per week and $300 per week for extended parental benefits for at least 26 weeks. But what options does someone have if they do not qualify for EI benefits?
Last Thursday the government tabled these three new recovery benefits in Parliament which will be debated today for ones who do not qualify for EI. These benefits are temporary as you can only apply for them up to September 25, 2021. Here’s a brief description of each below.
Canada Recovery Benefit (CRB) – The program is designed for those who are self employed and are not eligible for EI and still need support. The rate is $500 per week for 26 weeks. It is provided to workers who have not returned to work due to COVID-19 or seen their income drop by at least 50 percent. Those who apply for this program must be looking for work and accept work when it is reasonable to do so.
Canada Recovery Sickness Benefit (CRSB) – The program provides $500 per week for up to two weeks for workers who are sick or who must self-isolate due to COVID-19. The government has indicated that the goal of this program is to provide paid sick leave to all Canadians. Details such as eligibility requirements have not been given as of yet.
Canada Recovery Caregiver Benefit (CRCB) – The program provides $500 per week for up to 26 weeks for those who are unable to work because they need to care for a child under the age of 12 or family member because schools and daycares are closed. The benefit is also available for those caring for a child or family member who is sick and/or required to quarantine.
CERB Replaced by New Benefits, When Do They Start? Conclusion
Regarding the new EI program, it starts this week as some people are already transitioned into it while others can apply right now for EI benefits. However, regarding the three new temporary recovery programs, as mentioned above – the bill (C-2) for these programs will be debated today (September 28, 2020) in Parliament. Once the debates have ended, there will be a vote and if it passes, then it will be implemented. How fast it can happen is anyone’s guess but could happen fairly rapidly. So it would be good to check for updates daily. Also, because it is being debated there could possibly be some more adjustments, so look out for that also. Hopefully, things will move fast and these programs can be accessed because many still need help during these unstable times. Stay safe everyone.
What are current Canadian mortgage rates in right now? It is an interesting question which will take much research as each bank has their own rates. This can be a long and arduous process. However, I thought I would post some currents rates of some of Canada’s big banks to help make things a bit easier for you guys. So without further ado, here are the current mortgage rates in Canada below:
Special Offer Information 1 APR 3.87% 2 APR 2.70% 3 APR 5.75%
Buying a house is one of the most important purchases you can make. And for most, obtaining a mortgage is necessary to make that home purchase happen. So finding the right mortgage rate for your circumstances is imperative because choosing the wrong rate could cost you thousands of dollars. So do your research; ask lots of questions; read the fine print and take an honest appraisal of what you can afford. Compare mortgage rates AND ask at the bank if they’ll match the better rates at other financial institutions. Doing so will give you the information you need to make the right decision. And, potentially save thousands upon thousands of dollars over the course of the mortgage. Happy house hunting!
When will CERB finally end? That has been the million dollar question for the summer of 2020. However, now it seems the government has given a definite answer after extending the program one more time and has laid out plans for other programs to start right afterwards. Let’s look at these details.
When Will CERB Finally End? – CERB Extension and End Date
CERB or the Canada Emergency Response Benefit has been extended 4 more weeks for a total of 28 weeks. The rate is still $500.00 per week. However, the end date of CERB has changed. It is now ending as of September 26, 2020. So the window to collect a potential of 28 weeks goes from March 15, 2020 to September 26, 2020. What happens next?
When Will CERB Finally End? – New Programs Announced
The government announced that as of September 27, 2020, there will be four new programs that Canadians can apply for to help them through the financial crisis caused by COVID-19. They are a new EI program, and three new temporary benefits programs. Let’s take a look at each one these.
Restructured Employment Insurance Program
The government announced that people who are currently are on CERB and who qualify for EI benefits will be transitioned into the Employment Insurance program. This means that if you applied for CERB through Service Canada, you will automatically be set up for EI benefits. If you applied for CERB through CRA, then you would have to apply for EI. So what are the details of the EI program?
“EI will now be available to more Canadians, including those who would not have qualified for EI in the past, adding more than 400,000 people into the program.Those receiving EI will be eligible for a taxable benefit rate of at least $400 per week, or $240 per week for extended parental benefits, and regular benefits will be accessible for a minimum duration of 26 weeks. “
How Many Insurable Hours Do I Need to Qualify for EI Benefits?
The Government has lowered the required insurable hours of work to qualify for EI benefits to 120 hours in the last 52 weeks or since your last Employment claim. How can they do this?
First as indicated from their website, they are going to give a person a credit of 300 insurable hours if they are applying for Regular Employment insurance benefits. If someone is applying for special benefits such as sickness or maternity benefits they will receive a credit of 480 insurable hours. So the government is giving a credit to help make up the difference so you can qualify for EI.
Second, the government has established a minimum unemployment rate for the EI program of 13.1% across Canada. What does this mean? It basically means that a person cannot collect anything less then 26 weeks of benefits. Normally, the unemployment rate used was based in the city or area you lived and the lower the rate of unemployment, the lower the minimum weeks that someone could collect.
If I Do Not Qualify for EI Benefits, Are There Other Options?
As previously indicated, if someone does not qualify for Employment Insurance benefits, the government announced three addition programs. Here they are one by one below.
Canada Recovery Benefit – This program is for self employed workers who do not qualify for employment insurance benefits and need income support and who are looking and are available for work. They can be provided with $400.00 per week up to 26 weeks.
Canada Recovery Sickness Benefit – The government will provide up to $500.00 per week for up to two weeks for someone who has to self isolate for reasons related to COVID-19.
Canada Recovery Caregiving Benefit – This program will provide up to $500.00 per week for up to 26 weeks per household to eligible persons who have to take care of a child, family member with a disability or a dependent who cannot attend school or be at a care facility or get other care due to COVID-19.
All of these new programs start as of September 27, 2020 and all are temporary with a duration of one year. For more details on the specific eligibility requirements, please look at the government of Canada’s website.
CERB will finally end on September 27, 2020. At this point the government has revamped the Employment Insurance program and set up three temporary programs to help Canadians transition out of the financial crisis caused by the pandemic. The goal is to get as many Canadians back to work as possible in this time as the financial costs of having so many Canadians on CERB was immense. Will it work? Only time will tell. However, no matter how good the plans may be, everything will be dependent on how COVID-19 affects life and the economy in the fall and winter. And that is the ultimate wild card. Please stay safe.
CERB ending was announced a few days ago by the Canadian government and that the program will be replaced by a new EI program. There were not many details given on how this transition will unfold. However, they indicated that more details will be provided by the end of August. So what do we know about this change from the announcement?
CERB Ending Announced, When Does CERB end?
From the government’s website, a person can collect a maximum of 24 weeks of CERB within the time frame of March 15, 2020 to October 3, 2020. However, the new EI system will be ready in September according to the Employment Minister below:
“Speaking at a news conference later on Friday, Employment Minister Carla Qualtrough said the EI system is equipped to take in around four million applications at the beginning of September.”
Also, a quote from a recent CBC article indicates that those on CERB who already qualify for Employment Insurance will be moved to that program. So it seems at some point, perhaps in September, ones on CERB that quality will be shifted onto EI benefits.
What About People on CERB Who Do Not Qualify for EI?
It seems that the government will make a transitional benefit benefit for those who do not qualify for Employment Insurance. Here’s a quote from the Employment Minister about this:
“The government is promising a parallel, transitional benefit with EI-like components for those who can’t yet — and I emphasize yet,” said Employment Minister Carla Qualtrough — “get into the EI system. “
This provision seems to be temporary with the incentive to get people to qualify for Employment Insurance or back to work. However, we will have to wait for more details.
Will The Amount Payout Change with EI?
This appears to be the case as rates will be based on the Employment Insurance rate of 55% of a person’s normal weekly earnings up to a maximum of $573.00 per week. Here’s a quote from a recent article about this below:
“Benefit amounts may shrink for lower income recipients: Currently, EI regular and sickness benefits are equal to 55 per cent of one’s income to a maximum of $573 a week.”
As a result, the amount of money a lot of people receive will drop with the transition to EI. Many would have been receiving more with the $2000 per month CERB payment. Also, unlike CERB, ones on EI will have to be actively looking for work. However, it looks like the eligibility requirements will be lessened and training offered as indicated below:
“It will include access to training and the ability to work more hours without having as steep a clawback in benefit payments.
The government is also promising to relax EI eligibility rules like the number of hours required to receive support payments. “
Conclusion, Why Announce CERB Ending Without Details?
It is a good question as the details are very thin. However, the point is that the government is giving sort of a “shot across the bow” to Canadians in that they want more Canadians back to work. This is because the government feels Canada is now in recovery mode from the virus. Here’s an excerpt from recent CBC article below:
“We believe that the CERB has served its purpose and the reason it was created is no longer the main focus of our efforts as a government to support workers,” Qualtrough said during a mid-afternoon press conference. “We are going to move on to something different.”
And another quote from same article, “The Liberals are hoping the change prods more Canadians to either go back to work or look for a job as the economy moves into what the Bank of Canada has described as a recuperation period before a long, bumpy recovery.”
So are we in recovery from coronavirus? No one knows, as the virus is unpredictable and there is also fear of a second wave in the fall. However, the government is hoping that we are. Only time will tell.
Last week parliament approved the one time disability payment to Canadians with disabilities. It was part of Bill C-20 that also had the changes to the Canada Emergency Wage Subsidy program. The Canadian government says that about 1.7 million with disabilities should benefit from this program. So what are some details of this program? And how do Canadians who have disabilities apply to receive this one time payment?
One Time Disability Payment, How much?
The government of Canada’s website says that about 1.7 million Canadians can receive a one time payment of up to $600.00. Of note, this one time payment is non taxable and does not have to be reported anywhere. In a nutshell it is free money to spend as the recipients see fit. The government will move forward to start paying out on this once the bill receives Royal Assent.
How to Become Eligible to Receive the Payment?
The government of Canada’s website outlines three ways a person with disabilities can become eligible for the payment. Canadians with disabilities will have to fit in one of the three criteria the government has laid out. Here they are below:
They are holders of a valid Disability Tax Credit certificate (eligible persons not yet in possession of such a certificate would be able to apply for one up to 60 days after Royal Assent to be considered for the one-time payment).
Are currently receiving Canada Pension Plan disability benefits or Quebec Pension Plan disability benefits.
Or are in receipt of disability supports provided by Veterans Affairs Canada.
The government is hoping to help one of the most vulnerable groups to cope with the additional stresses due to COVID-19 with a non-taxable one time payment. This can be spent on whatever they need, and does not need to be tracked. During these uncertain financial times, any help that can be rendered is appreciated. Will it be enough to help Canadians during COVID-19? Only time will tell.
The Canada Emergency Wage Subsidy extension was passed through Bill C-20 this week. Along with the extension, there are significant changes to the program. I will try to break down these changes as clearly as possible.
Canada Emergency Wage Subsidy Extension
The Canada Emergency Wage Subsidy has been extended until December 19, 2020. Here’s a quote from an article from CPA Canada below:
allow the extension of the CEWS until December 19, 2020, including redesigned program details until November 21, 2020
What does this mean? It means that the program is extended until December 19, 2020 but the details of the program only go to November 21, 2020. There are no details yet on how the last four weeks of the program will be administered at this time. So what are the newest changes?
Canada Emergency Wage Subsidy Extension Changes, Elimination of 30% Revenue Test
As of July 5, 2020, applicants for the subsidy will no longer have to have at least a 30% revenue drop to apply for the Canada Wage Subsidy. If you have any kind of revenue drop, you can apply. Many felt that the 30% drop requirement was too strict and due to that, many businesses could not apply. The hope now is that more businesses can apply for the subsidy. However, the subsidy has now changed, with the program now having two components, the base subsidy and the top up.
Canada Emergency Wage Subsidy Extension Changes, Base Subsidy
As of July 5, 2020 , there will be a base wage subsidy for employers to claim for wages. For example, if your revenue drop was 50% or more then you will have a base subsidy of 60% of employees’ wage. If your revenue drop was 49% or less, then your base wage subsidy will be your percentage drop x 1.2 x employee’s wage.
However, this rate is only good for the first two 4 week periods as the rates drop off afterwards. For example, if your revenue drop was greater than 50%, your base subsidy rate in the 3rd 4 week period would drop to 50%, the next 4 week period to 40% and the next one to 20%. The same is true if your revenue extension was 49% or less. In the 3rd 4 week period, your base wage subsidy would be your percentage drop x 1.0 x employee’s wage. In the fourth period you have your percentage drop x 0.8 x employee’s wage. The 5th period you would have your percentage drop x 0.4 x employee’s wage.
1.2 x revenue drop (e.g., 1.2 x 20% revenue drop = 24% base CEWS rate)
1.2 x revenue drop (e.g., 1.2 x 20% revenue drop = 24% base CEWS rate)
1.0 x revenue drop (e.g., 1.0 x 20% revenue drop = 20% base CEWS rate)
0.8 x revenue drop (e.g., 0.8 x 20% revenue drop = 16% base CEWS rate)
0.4 x revenue drop (e.g., 0.4 x 20% revenue drop = 8% base CEWS rate)
Canada Emergency Wage Subsidy Extension Changes, Top Up
A second part of the program is a top up available for businesses that have lost 50% or more in revenue. The top-up increases depending upon the revenue to a maximum of an additional 25% subsidy which would be added to the amount of your base subsidy. Here’s another chart from the government of Canada’s website that highlights this below:
3-month average revenue drop
Top-up CEWS rate
Top-up calculation = 1.25 x (3 month revenue drop – 50%)
What is the safe harbour rule? It is when an employer who was on the program prior to July 5, 2020 and was receiving wage subsidy for their employee(s) of 75%. For the next two periods ending August 29, 2020, they will either receive 75% of employee(s) wages or the next base rate plus top up, whichever is greater. However, after August 29th, they would be subject to the new changes fully.
The government’s changes to the Canada Emergency Wage Subsidy does have the potential to help more Canadian businesses. However, it is a short term solution as the program has a “weaning off process” as it pays less and less over time. So there is definitely incentive for businesses to get up and going quickly.
However, there are unknowns based on how quickly certain areas of the economy can recover from the pandemic and if there is another wave or surge. At that point all bets are off and was probably why the government did not provide details for last period going into December. As that is the great unknown. The changes are a bit complicated and will take some time to understand and hopefully more details will be provided in the days ahead.
Canadian Seniors will receive a one time covid-19 relief payment this week as announced by the government earlier in the week. The goal is to help seniors curb rising costs for things such as grocery deliveries and prescriptions. During this pandemic, seniors have been one of the hardest groups affected. This payment is one way that the government wanted to lightened their load. This one-time payment is tax free.
Canadian Seniors Receive Covid-19 Payment Relief, How Much?
Canadian seniors can receive up to $500.00 in a one-time payment from the government. Here’s the breakdown from a recent article below:
“Any senior who is eligible for the Old Age Security (OAS) pension will receive a $300 payment, and an additional $200 is being sent to seniors eligible for the Guaranteed Income Supplement (GIS).
The federal government estimates there are currently 6.7 million seniors who are eligible for the OAS pension and 2.2 million who are eligible for the GIS. These payments are set to total $2.5 billion.”
Canadian Seniors Receive Covid-19 Paymet Relief, When and How?
The payment is directly made to any senior who is eligible. No application is needed to apply. Here are the payment details from the same article:
“Seniors who reside in Canada can expect to receive the payment by direct deposit or cheque this week, whereas seniors who reside outside Canada can expect this one-time payment in July for those on direct deposit, or by cheque with delays given international postal disruptions,” said the government in a statement.
For Canadian seniors, any help is good as they have been hit hard by COVID-19. As a result, they have to take extra precautions to stay safe. This has resulted in taking on a greater financial burden with limited income for many. Because of that, Canadian seniors will gladly accept the covid-19 one-time payment as every little bit helps.