Canada Emergency Response Benefit (CERB) application portal opens up on Monday April 6. If yourself or any of employees (former) are eligible, please apply over the phone or using online CRA portal.
Here’s are key highlights of CERB program:
The benefit will be available to workers:
Residing in Canada, who are at least 15 years old;
Who have stopped working because of COVID-19 and have not voluntarily quit their job;
Who had income of at least $5,000 in 2019 or in the 12 months prior to the date of their application; and
Who are or expect to be without employment or self-employment income for at least 14 consecutive days in the initial four-week period. For subsequent benefit periods, they expect to have no employment income.
The Benefit is only available to individuals who stopped work as a result of reasons related to COVID-19. If you are looking for a job but haven’t stopped working because of COVID-19, you are not eligible for the Benefit.
The CERB is paid in blocks of four weeks in the amount of $2,000, which is equivalent to $500 per week. A maximum 16 weeks of benefits can be paid. The benefit is available from March 15, 2020, to October 3, 2020.
Timing of Payment:
Benefits will start within 10 days of you submitting an application. There is no waiting period. Payments will be made through direct deposit or by cheque. You will be paid more quickly if you choose direct deposit.
Days to apply for CERB:
See the schedule below to determine when you can start to apply:
As always the information in this email is for information purposes only. Please connect with a qualified tax professional/s to assess and to determine the impact on your tax position/obligation. Please feel free to reach out with any questions or request for more information. Stay Safe! Mayur Gadhia, CPA, CA CloudAct. 416-985-4978 Check us at www.cloudact.ca