As the economy begins to re-open, the federal government has announced new financial supports for workers affected by COVID-19.
The $2,000/month Canadian Emergency Response Benefit (CERB) will be extended until September 27, 2020. To date, the CERB has paid out more than $69 billion to 8.6 million plus recipients.
Come September 27, individuals accessing the CERB who are eligible for Employment Insurance (EI), but remain unable to work, will transition to a simplified EI program.
Revisions to the revised EI program include:
Furthermore, while EI premium rates would typically be set to increase, they have been froze for two years at $1.58 per $100 for employees and $2.21 per $100 for businesses.
In addition to the revamped EI system, the federal government has introduced three temporary taxable benefits for those who do not qualify for EI and will be introduced on September 27, 2020.
(1) Canada Recovery Benefit
(2) Canada Recovery Sickness Benefit
(3) Canada Recovery Caregiving Benefit
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