COVID-19 Updates

At Hazen Management, we want to ensure our community is staying safe, healthy, and up to date with accurate information to support the success of their business.

If you have any resources, updates or questions regarding COVID-19 please contact us at 780-239-2446.

Last modified date: May 8, 2020

Covid-19 Business Aid

Canada Emergency Wage Subsidy (CEWS)

Providing a 75% wage subsidy to eligible employers to be extended past June 2020.

Most businesses will only need to show a 15% decline in revenue for March instead of 30%, proof is required.

To ensure compliance of this program, the employer is required to repay amounts paid under this subsidy if they are not eligible and pay their employees accordingly.

*Penalties may include fines who provide false or misleading information in order to obtain access to this benefit.*

More to come. Details here

Temporary 10% Wage Subsidy

Allowing eligible employers to reduce the amount of payroll deduction required to be remitted to the CRA in a three month measure.

More details here

Work-Sharing Program

This program is offered to eligible workers who agree to reduce their normal working hours

The employer and employees must be in an agreement and apply together. Application required to be submitted a minimum of 30 days prior to the requested start date.

Maximum duration of this program has been extended from 38 weeks to 76 weeks.

More details here

Canadian Taxes and Benefits

The payment of any income tax amounts that become owing between March 18 to September 2020 are allowing all businesses to defer until August 31, 2020.

More details here

Canada Emergency Business Account (CEBA)

For small businesses and not-for-profits, to be provided with interest-free loans up to $40,000 to cover the temporarily reduced operating costs.

As of April 16, 2020 – To qualify, demonstrate that you have paid between $20,000 to $1.5 million in total payroll in 2019.

More details here

Covid-19 Individual Aid

Employment Insurance (EI)

If you have lost your job through no fault of your own, visit here to apply if you are eligible.

Apply as soon as you stop working, even when you have not yet received your ROE. Delays may result in lost benefits.

Canada Emergency Benefit (CERB)

A taxable benefit of $2,000 per month for up to 4 months to eligible workers who have lost their income due to COVID-19. Benefits expected to be paid within 10 days of submitting an application.

As of April 15, 2020 – Allowing people to earn up to $1,000 per month while collecting CERB.

Those eligible now include seasonal workers who have consumed their EI regular benefits and unable to tackle their regular seasonal work due to COVID-19.

More details here

Canada Child Benefit (CCB)

Eligible recipients will be provided with $300 more per child with though the CCB payment scheduled in May.

More details here.

Mortgage Support

Contact your financial institution regarding flexibility for a mortgage deferral.

Includes permitting lenders to defer up to six monthly mortgage payments.

More details here

Filing Income Tax Returns

The return filing due date deferred until June 1, 2020 for individuals.

Without incurring interest or penalties, new income tax balances due date deferred until after August 31, 2020.

More details here

Special Goods and Services Tax

One-time special payment ranging from $400 to $600 starting April 9, for low and modest-income families.

No application required. If eligible, you will receive it automatically.

Details here.

Canada Student Loans

A six-month interest-free moratorium for all student loan borrowers.

More details at NSLSC.

Canada Emergency Student Benefit (Coming Soon)

Eligible to postsecondary students to receive $1,250/month from May to August.

Eligible College and University Students include those who:
– Are currently in school
– Are planning to start in September
– Graduated in December 2019
– Are working and earning less than $1,000/month

If you are taking care of someone else or have a disability, the amount will increase to $1,750/month.

More to come

Note that the above may change at any time. Please refer to the Canada Government Website for detailed information.