(587)999-9555
admin@gregsmyth.ca
Facebook
Twitter
LinkedIn
Greg Smyth
  • HOME
  • ABOUT
    • ABOUT
    • Privacy Statement and Website Terms of Use
  • SERVICES
    • Business Stages
      • Business Continuation
      • Business Succession
      • Executive Benefits
      • Group Benefits
    • Life Stages
      • Starting your career
      • Growing Families
      • Mature Families
      • Preparing for Retirement
      • Retirees
    • Association Health & Dental
    • Health Care Plans & Critical Illness
    • Travel Insurance
  • BLOG
  • CONTACT

Throne Speech: Recovery Plan Highlights

September 24, 2020Blog, Coronavirus, Coronavirus - Associates, Coronavirus - Practice Owners, Coronavirus - Students, disabilityGreg Smyth

On September 23rd, in a speech delivered by Governor General Julie Payette, Prime Minister Justin Trudeau outlined the Federal government’s priorities focused on four foundations:

  • Fighting the pandemic and saving lives;

  • Supporting people and businesses through the emergency “as long as it lasts, whatever it takes”; 

  • “Building back better” by creating jobs and strengthening the middle class;

  • Standing up for Canadian values, including progress on reconciliation, gender equality, and systemic racism.

Below, we highlight the support programs that help those Canadians who are struggling financially due to the pandemic.

Canada Emergency Wage Subsidy extended to next summer

The Canada Wage Subsidy (CEWS) will be extended to summer 2021. Under new program criteria, businesses with ANY revenue decline will be eligible. However, the amount of the subsidy will be based on the revenue drop rather than the original 75%.

See what the changes are at Canada.ca

Canada Recovery Benefit increased to $500/week

The day after the Throne Speech, in a bid for opposition support, the federal government announced it will increase the new Canada Recovery Benefit (CRB) to $500/week for up to 26 weeks.

In order to qualify for this program, Canadians must be looking for work and had stopped working or had their income reduced by 50 per cent or more due to COVID-19, but are still making some money on their own.

Canada Recovery Sickness Benefit

The Canada Recovery Sickness Benefit (CRSB) will provide $500/week for up to 2 weeks for workers who are unable to work because they are sick or must isolate due to COVID-19.

Canada Recovery Caregiving Benefit

The Canada Recovery Caregiver Benefit will provide $500/week for up to 26 weeks per household to eligible workers who cannot work because they must provide care to children or family members due to the closure of schools, day cares or care facilities.

Creating a new Canadian Disability Benefit

The government pledged to bring in a new Canadian Disability Benefit (CDB) that will be modelled after the guaranteed income supplement (GIS) for seniors.

The CRB, CRSB, CRCB and CDB are pending the passage of legislation in the House of Commons and Senate.

See Eligibility for CRB and more

Recent Posts

  • Extended COVID-19 Federal Emergency Benefits
  • Self-employed: Government of Canada addresses CERB repayments for some ineligible self-employed recipients
  • Government of Canada to allow up to $400 for home office expenses
  • Highlights of the 2020 Federal Fall Economic Statement | Additional $20,000 CEBA loan available now
  • Applications for the new Canada Emergency Rent Subsidy starts today!

Categories

  • 2020
  • 2020 Only
  • Accountants
  • Blog
  • Business Owners
  • Business Succession Planning
  • Charitable Gifting
  • CLU Comment
  • Coronavirus
  • Coronavirus – Associates
  • Coronavirus – Practice Owners
  • Coronavirus – Retired
  • Coronavirus – Retiring
  • Coronavirus – Students
  • corporate
  • Corporate Insurance
  • Critical Illness Insurance
  • Debt
  • disability
  • Employee Benefits Program
  • Estate Planning
  • Featured Articles
  • Financial Planning
  • individuals
  • Investing
  • Life Insurance
  • Life Stages
  • Lifestyle
  • Lifestyle Tips
  • Living Benefits
  • RDSP
  • Recent Blogs
  • Retirement
  • Retirement Planning
  • RRSP
  • tax
  • Tax Planning
  • TFSA
  • Uncategorized
  • Universal Life
  • Wealth Accumulation
  • Will Planning

Contact Us

Gregory A. Smyth CLU, Ch FC
GSI Estate & Retirement Planning
admin@gregsmyth.ca
(587) 999-9555
6327 Bowness Road NW
Calgary, AB
T3B 0E4

About

With over 40 years of experience and connections with other professional advisors, Greg is well-positioned to help individuals and corporations with their various financial needs.

Latest News

    Feed has no items.
© 2017 Financial Tech Tools