COVID-19 Pandemic Provincial (BC) and Federal Government Support Measures

We have summarised the recent changes made by the government (Provincial and Federal both) to support individuals, businesses and services in the time of COVID-19 pandemic crisis. We will be updating our guide from time to time.

Here’s an index that sums up the announced changes:

  1. Provincial BC Government: COVID-19 Business Support Measures

    – Extension of tax filing and payment details to September 30, 2020
    – New Taxes Delayed Until After September 30, 2020
    – Relief for Commercial Property Owners and Tenants
    – $500/ Month Rental Supplement
    – ICBC Monthly Payment Deferral
    – BC Hydro Customer Assistance Program

  2. Federal Government: COVID-19 Business Support Measures

    – Deferral of taxes and installment payments
    – Objections & Appeals
    – New debt collection activity suspended
    – Suspension of GST/HST & Income Tax Audits
    – Canadian Emergency Business Account
    – Business Credit Availability Program (BCAP)
    – EI Work-Sharing program
    – The Canada Emergency Wage Subsidy

  3. Provincial BC Government: COVID-19 Personal Support Measures

    – B.C. Emergency Benefit for Workers
    – B.C. Climate Action Tax Credit
    – Renters, Homeowners & Homeless People
    – Student Loan Support
    – BC Hydro Customer Assistance Program
    – ICBC Monthly Payment Deferral

  4. Federal Government: COVID-19 Personal Support Measures

    – Extra Time to File Income Taxes
    – CRA Will Recognize Electronic Signatures
    – Child Benefit Increase
    – Mortgage Payment Support
    – Employment Insurance Support
    – Employment Insurance Sickness Benefit
    – Canadian Emergency Response Benefit (CERB)
    – GST Tax Credit Increase for 2019-20 Benefit Year
    – RRIF & RPP Withdrawal Reduction
    – Student Loan Repayment Moratorium

  5. Other Federal Government COVID-19 Business Support Measures

    – Lowering the Domestic Stability Buffer
    – Cutting the interest rate
    – Launch an Insure Mortgage Purchase Program

 

We are available to help you through any of the above-listed areas.

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