By Anil Sharma CPA, CGA on Friday, 27 March 2020
Category: Taxes

Canada Emergency Response Benefit

This benefit replaces Emergency Care Benefit (ECB) and Emergency Support Benefit (ESB) announced earlier on March 18, 2020

This will provide a taxable benefit of $2,000 a month for up to 4 months to:

The Canada Emergency Response Benefit will be accessible through a secure web portal starting in early April. Applicants will also be able to apply via an automated telephone line or via a toll-free number. Canadians would begin to receive their CERB payments within 10 days of application. The CERB would be paid every four weeks and be available from March 15, 2020 until October 3, 2020.

 Above Benefits are available to “eligible worker”, which means that they must be:

The worker, whether employed or self-employed, must cease to work for reasons related to COVID-19 for at least 14 consecutive days within the four-week period in respect of which they apply for the payment.

For the period of cessation of work, the applicant cannot receive income from the sources listed above, and cannot receive any other EI benefits.  Further, workers that quit voluntarily are not eligible.

The legislation does not exclude shareholders or their family members as long as they meet the income requirements.

WARNING: This information is for educational purposes only. As it is impossible to include all situations, circumstances and exceptions in a newsletter such as this, a further review should be done by a qualified professional. No individual or organization involved in either the preparation or distribution of this information accepts any contractual, tortuous, or any other form of liability for its contents or for any consequences arising from its use.

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