Government Support for REALTORS® During COVID-19 Pandemic

Posted on February 01, 2020 by AREA Communications

Last updated: October 22, 2020

The Canadian and Albertan governments have begun their plans to protect the economy and those impacted by COVID-19. Both governments are currently working on the initiatives below. We will be updating this page with links as more information regarding processes and applications as they are rolled out, so please check back regularly.

Federal Government Financial Support Questions (Federal):

The federal government has created a short questionnaire to assist Canadians in identifying COVID-19 relief programs they may be eligible to receive. To take the questionnaire click HERE.


Canada Emergency Response Benefit – CERB (Federal) 

This program has now ended. Former recipients may be eligible for the Canada Recovery Benefit, Canada Recovery Sickness Benefit, and/or the Canada Recovery Caregiving Benefit


Canada Recovery Benefit – CRB (Federal)

This program is an evolution of CERB for workers who are self-employed or are not eligible for Employment Insurance (EI) who still require income support. CRB provides $500/week for up to 26 weeks.

Available to workers who;

    • Earned a minimum of $5,000 in 2019, 2020, or in the 12 months preceding your first application through EI, self-employment income, EI maternity or parental benefits.
    • Have stopped working due to the pandemic and are available and looking for work; or are working and have had a reduction in employment income for reasons related to COVID-19.
    • Have seen at least a 50% reduction in employment income for reasons related to COVID-19.
    • Are not receiving the Canada Recovery Caregiving Benefit, the Canada Recovery Sickness Benefit, short term disability, or work
    • Reside and are present in Canada for the application period, are at least 15 years old, and have a valid Social Insurance Number (SIN).

NOTE: Applications for this program open October 12, 2020. Click HERE for more information.


Canada Recovery Sickness Benefit – CRSB (Federal)

This program is an evolution of CERB for workers who are sick or must self-isolate for reasons related to COVID-19. CRSB provides $500/week for up to two weeks.

Available to workers who;

  • Reside and are present in Canada for the application period.
  • Are at least 15 years old on the first day of the application period and have a valid Social Insurance Number (SIN).
  • Have earned at least $5,000 in 2019 or in 2020 or in the 12 months preceding your first application for this benefit from one or more of the following sources: employment income, self-employment income, Employment Insurance (EI) maternity or parental benefits; or Quebec Parental Insurance Plan (QPIP) benefits.
  • Have been unable to work for at least 50% of your normally scheduled work within a given week because of being sick or required to self-isolate for reasons related to the COVID-19 pandemic.
  • Are not in receipt of paid leave from an employer in respect of the same week
  • Are not in receipt of the CERB, the EI Emergency Response Benefit (ERB), the Canada Recovery Benefit, the Canada Recovery Caregiving Benefit, short-term disability benefits, workers’ compensation benefits, or any EI benefits or Quebec Parental Insurance Plan (QPIP) benefits in respect of the same week.

NOTE: Applications for this program are now open. Click HERE for more information.

Canada Recovery Caregiving Benefit – CRCB (Federal)

This program is an evolution of CERB for workers who cannot work because they must provide care to children or family members due to the closure of schools, day cares or care facilities. CRCB provides $500/week for up to 26 weeks per household.

Available to workers who;

  • Reside and are present in Canada for the application period.
  • Are at least 15 years of age on the first day of the application period and have a valid Social Insurance Number (SIN);
  • Have earned at least $5,000 in 2019 or in 2020, or in the 12 months preceding your first application for this benefit from one or more of the following sources: employment income, self-employment income, Employment Insurance (EI) maternity or parental benefits; or Quebec Parental Insurance Plan (QPIP) benefits.
  • Have been unable to work for at least 50% of your normally scheduled work within a given week because of one of the following conditions:
    • must take care of a child who is under 12 years of age on the first day of the period for which the benefit is claimed:
      • because their school or daycare is closed or operates under an alternative schedule for reasons related to the COVID-19 pandemic
      • who cannot attend school or daycare under the advice of a medical professional due to being at high risk if they contract COVID-19
      • because the caregiver who usually provides care is not available for reasons related to the COVID-19 pandemic
  • must provide care to a family member who requires supervised care:
    • because their day program or care facility is closed or operates under an alternative schedule for reasons related to COVID-19
    • who cannot attend their day program or care facility under the advice of a medical professional due to being at high risk if they contract COVID-19; or
    • because the caregiver who usually provides care is not available for reasons related to the COVID-19 pandemic
  • are the only individual from your household claiming this benefit for the week in which you are applying
  • are not in receipt of paid leave from an employer in respect of the same week
  • are not in in receipt of the CERB, the EI Emergency Response Benefit (ERB), the Canada Recovery Benefit, the Canada Recovery Sickness Benefit, short-term disability benefits, workers’ compensation benefits, or any EI benefits or Quebec Parental Insurance Plan (QPIP) benefits in respect of the same week.

NOTE: Applications for this program are now open. Click HERE for more information.


Deferred Income Tax Payments (Federal):

  • Deferred to September 2020.
  • The CRA will not charge late-filing penalties for a 2019 individual return, 2019 or 2020 corporation return, or trust return as long as it is filed by September 30, 2020.
  • For more information on Income tax filing and payment deadlines click HERE.

 

Support for Brokers/Office Managers

EI Work Sharing Program (Federal):

  • Provides EI benefits to workers who agree to reduce their normal working hours with their employers.
  • Click HERE for more information.


Canada Emergency Wage Subsidy (Federal):

  • Covers 75% of the first $58,700 of an employee’s income (capped at $847/week per employee) for up to 24 weeks retroactive from March 15th, 2020 to August 29th, 2020.
  • Eligible employers include: individuals, taxable corps, sole proprietors (the wage of the owner is eligible), partnerships, non-profits, and charities.
  • NOTE: Claim period five and onward have program changes with further information HERE.
  • For eligibility info and to apply click HERE.


Canada Emergency Commercial Rent Assistance Program (Federal):

  • Only previously approved applicants can opt for extensions. 
  • Participating property owners agree to reduce rent by at least 75% for April and May (retroactively), as well as June, for their small business tenants. CECRA covers 50% of the rent, with the tenant paying 25%, and the owner forgiving at least 25%
  • Click HERE for eligibility information and the application process.


Canada Emergency Business Account – CEBA (Federal):

  • CEBA has been extended to October 31, 2020.
  • Implemented and delivered through financial institutions in coordination with Export Development Canada (EDC).
  • Provides interest-free loans up to $40,000 to small businesses and non-profits to aid in covering operating costs. Note: As of June 26, 2020, businesses eligible include owner-operated small businesses that do not have a payroll, sole proprietors receiving business income directly, as well as family-owned corporations remunerating through dividends.
  • Repaying the balance of the loan on or before December 31st, 2022 will result in loan forgiveness of 25% (Up to $10,000).
  • For further information and how to apply click HERE.


Education Property Tax Freeze (Alberta)

  • Education property taxes will be frozen at last year’s level. They were set to be risen in Budget 2020, but the government has decided to forgo the population & inflation related increase.


Education Property Tax Deferral (Alberta) 

  • Effective immediately, the government will defer education property tax for businesses for six months.


WCB Premium Deferral (Alberta) 

  • Private sector premium for WCB are now deferred until early 2021 (effectively for one year).
  • Employers who have already paid for 2020 are eligible for a rebate or credit.
  • Small and Medium businesses will receive additional assistance from the government of 50% of the premium when it is due.
  • Click HERE for WCB’s Premium relief for employers fact sheet.


Click HERE for more information on programs proposed by the Federal Government

Click HERE for more information on programs proposed by the Provincial Government

 

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