Getting financial support from the government

Need help coping with the financial impact of COVID-19? Here’s how the federal government intends to support Canadians through this pandemic.*

For families with kids, who may need extra support

The Canada Recovery Caregiving Benefit (CRCB) offers $500 per week for up to 26 weeks per household. This benefit applies to workers who:

• can’t 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
• have a child or family member who’s sick, needs to quarantine or is at high risk of serious health implications due to COVID-19.

Here’s more information on the Canada Recovery Caregiving Benefit.

For Canadians with mortgages

Canadian banks are working with their customers on a case-by-case basis in relation to providing COVID-19 support. Please contact your bank or financial institution to discuss mortgage deferral.

The Canada Mortgage and Housing Corporation (CMHC) and other mortgage insurers are allowing homeowners impacted by COVID-19 to defer up to six monthly mortgage payments.

Here’s more information on mortgage support

For Canadians who are sick, quarantined, unable to work or facing unemployment

They can receive the Canada Recovery Benefit (CRB). This benefit offers $500 per week for up to 26 weeks for workers who:

• have stopped working or had their income reduced by at least 50% due to COVID-19, and
• aren’t eligible for Employment Insurance (EI).

Or, they can apply for the Canada Recovery Sickness Benefit (CRSB). This benefit offers $500 per week for up to a maximum of two weeks, for workers who:

• can’t work for at least 50% of the week because they have COVID-19,
• are self-isolated for reasons related to COVID-19,
• have underlying conditions, are undergoing treatments or have contracted other sicknesses that puts them at risk of contracting COVID-19.

Here's more information on the Canada Recovery Benefit and the Canada Recovery Sickness Benefit.

For people with disabilities

They can receive a one-time, tax-free payment of $600.  This applies to Canadians with disabilities who are: 

• holders of a valid Disability Tax Credit certificate, or
• beneficiaries as at July 1, 2020 of:
  • Canada Pension Plan Disability
  • Quebec Pension Plan Disability Pension
  • Disability supports provided by Veterans Affairs Canada.

Learn more about this special one-time payment.

For seniors

Canadians with Registered Retirement Income Funds (RRIFs) and Registered Pension Plans may reduce their minimum withdrawals by up to 25% in 2020. To request a reduction, please contact us.

Here’s more information on support for seniors

For Canadians who are post-secondary students

The government has made changes to the Canada Student Loans Program (CSLP) to allow more students to qualify for support.

These changes include doubling the Canada Student Grants in 2020-21 to:

• up to $6,000 for eligible full-time students and
• up to $3,600 for eligible part-time students.

The Canada Student Grants for Students with Permanent Disabilities and Students with Dependents would also be doubled.

Here's more information about the changes to the Canada Student Loans Program.

For Canadian employers or business owners

The Canada Emergency Wage Subsidy (CEWS) offers a wage subsidy to eligible employers. This subsidy covers a portion of an employee’s wages and can help employers re-hire staff or avoid layoffs.

All eligible employers who’ve experienced a revenue drop can apply. Your subsidy amount is based on your revenue drop.

Here’s more information on the Canada Emergency Wage Subsidy and support for businesses.

* For updates on when these actions will take effect, please visit the Government of Canada’s page on the COVID-19 Economic Response Plan.

Need more support?

Visit your provincial or territorial government’s website for information on how they’re providing COVID-19 support:

• Ontario
• Quebec
• Alberta
• British Columbia
• Manitoba
• New Brunswick
• Newfoundland and Labrador
• Nova Scotia
• Prince Edward Island
• Northwest Territories
• Nunavut
• Saskatchewan
• Yukon