Here is a list of resources for you that may assist you if you are having financial struggles during the COVID-19 pandemic:
- Canada Emergency Response Benefit (CERB): For Canadians whose employment has been impacted by the pandemic, they may qualify to receive CERB funding. There are eligibility requirements, such as not currently receiving EI. You cannot have quit your job voluntarily and receive CERB.
- For students with Canada Student Loans: A six-month interest-free moratorium (until September 30, 2020) has been placed on repayment of Canada Student Loans for all student loan borrowers. This has been done automatically and you do not need to apply.
- For students with OSAP loans: Six months deferral of Ontario Student Assistance Program (OSAP) until Sept 30. This has been done automatically and you do not need to apply.
- Canada Child Benefit: Parents will receive an additional $300 per child as part of the Canada Child Benefit. This will be automatically paid out as part of the benefit, and expected to be paid out in May.
- Extra time to file income tax returns: Filing due date for 2019 tax returns of individuals (other than trusts) has been deferred until June 1, 2020.
- Mortgage payment deferral: Homeowners facing financial stress may be eligible for a mortgage payment deferral up to 6 months. Please contact your financial institution where you received your mortgage to find out if you are eligible.
- Property tax deferral: Upcoming quarterly (June 30) remittance of education property tax to school boards will be deferred by 90 days.
- For renters: No new eviction orders will be issued until further notice and sheriff’s offices will postpone any scheduled enforcement of current eviction orders.
For a full list of available benefits and financial assistance, visit the CBC website.