Supports for Albertan horsemen facing hardship as a result of the COVID-19 outbreak.
Government of Canada Support
Canada Emergency Response Benefit
If you have stopped working because of COVID-19, the Canada Emergency Response Benefit (CERB) may provide you with temporary income support. The CERB provides $500 a week for up to 16 weeks.
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 or are eligible for EI regular or sickness benefits;
- 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 or self-employment income.
Canada Emergency Wage Subsidy
To help businesses keep and return workers to their payroll through the challenges posed by the COVID-19 pandemic, the Canada Emergency Wage Subsidy would provide a 75% wage subsidy to eligible employers for up to 12 weeks, retroactive to March 15, 2020.
Eligible Employers would include individuals, taxable corporations, and partnerships consisting of eligible employers as well as non‑profit organizations and registered charities.
This subsidy would be available to eligible employers that see a drop of at least 30 per cent of their revenue when compared between the same month in 2019.
Amount of subsidy: The Canada Emergency Wage Subsidy would apply at a rate of 75% of the first $58,700 normally earned by employees – representing a benefit of up to $847 per week.
Eligible Periods: The program is scheduled to be in place for a 12-week period, from March 15 to June 6, 2020.
How to apply: Applications for this subsidy will be available through a portal on the Canada Revenue Agency site.
Example: Bruno and Tisha run a floral shop in Burnaby, British Columbia. They have four full‑time employees, each earning $800 per week, and 6 part-time employees, each earning $400 per week, for a total weekly payroll of $5,600. Bruno and Tisha have closed their shop and are only fulfilling online orders during this challenging period. They are keeping all of their employees on the payroll, paying them their full regular wages, despite their revenues being down by 30 per cent. Bruno and Tisha would be eligible for a weekly wage subsidy of $4,200 ($600 for each of their full-time employees and $300 for each of their part-time employees).
Income Tax Return: Extra time to file income tax returns until June 1, 2020.
Mortgage Support: Canadian banks have committed to work with their customers on a case-by-case basis to find solutions to help them manage hardships caused by COVID-19. This includes permitting lenders to defer up to six monthly mortgage payments (interest and principal) for impacted borrowers. Canadians who are impacted by COVID-19 and experiencing financial hardship as a result should contact their financial institution regarding flexibility for a mortgage deferral. Canada’s mortgage insurers are committed to providing homeowners with solutions to mitigate temporary financial hardship related to COVID-19. This includes permitting lenders to defer up to six monthly mortgage payments (interest and principal) for impacted borrowers.
Employment Insurance benefits:
- Allows up to 15 weeks of assistance if a person cannot work due to medical reasons such as self-isolation or self-quarantine.
- The one-week waiting period for Employment Insurance benefits has been waived by the federal government.
Student loans repayment deferral: A six-month, interest free moratorium on Alberta student loan payments for all Albertans in the process of repaying these loans.
Government of Alberta support
WCB premium payment deferral: Small, medium and large private sector employers can defer WCB premium payments until 2021.
- For small and medium businesses, the government will cover 50% of the 2020 premium when it is due in 2021 – saving businesses $350 million.
- Large employers will have their 2020 WCB premium payments deferred until 2021, at which time their premiums will be due.
Employers who have already paid WCB premiums in 2020 are eligible for a rebate or credit.
Utility payment deferral: Residential, farm and small commercial customers can defer electricity and natural gas bill payments for the next 90 days to ensure no one will be cut off, regardless of the service provider.
Alberta corporate income tax balances and instalment payments coming due between March 18, 2020 and August 31, 2020 are deferred until August 31, 2020 to increase employers’ access to cash so they can pay employees, address debts and continue operations. In addition, due dates for the filing of corporate income tax returns due after March 18, 2020 and before June 1, 2020 have been extended to June 1, 2020.
Education property tax rates will be frozen at last year’s level – reversing the 3.4% population and inflation increase added in Budget 2020.