This article is an update on Canada’s COVID-19 Economic Response Plan and Canada’s COVID-19 Economic Response Plan – Additional Resources
In the early morning hours of March 25, 2020, Bill C-13 “An Act respecting certain measures in response to COVID-19” was introduced, and received Royal Assent by the afternoon. Important details, clarifications, and a few key changes to Canada’s COVID-19 Economic Response Plan were included.
One common theme throughout the legislation is the ability to change specific amounts and rules by updating regulations rather than law, which means the government has more flexibility in making changes as events unfold. The key items discussed in this document include: Emergency Response Benefit; GST tax credit special payment; Canada child benefit special payment; RRIF minimum withdrawal changes; and Temporary wage subsidy for employers.
Video Tax News: Emergency Response Benefit – Legislative Updates; Temporary Wage Subsidy – Legislative Updates; Individual Measures – Legislative Updates