Canada COVID Recovery & Sickness Benefits for Individuals and Families

Canada COVID Recovery & Sickness Benefits for Individuals and Families
covid-canada

Canada COVID Recovery & Sickness Benefits for Individuals and Families

Name of Benefit Benefit Amount Eligibility Other information
Employment Insurance (EI) program – The minimum benefit rate $500 per week before taxes in most cases – Job not being available

– Being sick or quarantined

– Have to care of a child or a family member at home.

– 120 insured hours to qualify EI benefits

– As of September there are temporary changes been made to EI (effective 1 year)

– One time credits;

– 300 insured hours for regular benefits

– 480 insured hours for sickness, maternity, parental or caregiving benefits

Canada Recovery Benefit (CRB) $500 ($450 after tax is withheld) per week for up to 38 weeks – Unemployed or self-employed workers

– Or those whose income is reduced by at least 50% due to COVID-19, and

– who are not eligible for EI

– Available to Individual who are not eligible for EI.

– If received this benefit in 2020, report to tax return.

Canada Recovery Sickness Benefit (CRSB) $500 ($450 after tax is withheld) , per week for up to a maximum of two weeks – Self-quarantined due to contracting Covid-19.

– Working at least 50% of the week because of contracting COVID-19.

– Have underlying conditions, are undergoing treatments that make them vulnerable to COVID-19.

– Available to Individual who are not eligible for EI.
Canada Recovery Caregiving Benefit (CRCB) $500 ($450 after tax is withheld) per week for up to 38 weeks per household – Unable to 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

– Because the child or family member is sick and/or required to quarantine or is at high risk of serious health implications because of COVID-19

– Available to Individual who are not eligible for EI.
Mortgage payment deferral – The payment can be paused for a certain period of time upon the agreement between the lender and you. – Mortgage payment deferral is for those homeowners who are having financial barriers to pay their mortgage. – Mortgage professional, lender and the bank can confirm if one is eligible for this benefit.

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