Here’s how Ottawa’s $82B stimulus package breaks down for workers and businesses affected by COVID-19

OPEN DIGITAL ACCESS Mar 18, 2020 by Bruce Campion-Smith Toronto Star

OTTAWA—The federal government's "extraordinary" stimulus package will provide direct payments to Canadians forced to stay at home due to COVID-19, and wage subsidies for small businesses to keep employees on the payroll.

Prime Minister Justin Trudeau announced the action Wednesday morning, saying it would total $27 billion in direct support and a further $55 billion to ensure the liquidity of companies and households through tax deferrals.

"Our government is taking extraordinary action," Trudeau said, adding that the total investment equals three per cent of the country's GDP.

"We are confident that getting these measures out ... within the next few weeks to make up for lost income will make a significant difference," the prime minister said.

The measures announced Wednesday include:

•a temporary boost to Canada Child Benefit payments for families;

•an Emergency Care Benefit of up to $900 bi-weekly for up to 15 weeks to provide income support to workers who must stay home and do not have access to paid sick leave. This includes those who are self-employed, sick or quarantined;

•an Emergency Support Benefit from the Canada Revenue Agency to provide up to $5 billion in support to workers who are not eligible for Employment Insurance (EI) and who are facing unemployment;

•helping low-income families with a special top-up payment under the Goods and Services Tax (GST) credit.

•extending the tax filing deadline for individuals to June 1 and giving taxpayers until Aug. 31 to pay any outstanding tax bills without penalty. Businesses will also be able to defer tax payments;

•Providing eligible small businesses a 10 per cent wage subsidy for the next 90 days, up to a maximum of $1,375 per employee and $25,000 per employer to encourage employers to keep their workers on the payroll;

•a six-month, interest-free, moratorium on Canada Student Loan payments;

•$305 million for an Indigenous Community Support Fund to address immediate needs in First Nations, Inuit, and Métis Nation communities;

•expanding Export Development Canada's ability to provide support to domestic businesses.

Bruce Campion-Smith is an Ottawa-based reporter covering national politics. Follow him on Twitter: @yowflier

Bruce Campion-Smith is an Ottawa-based reporter covering national politics. Follow him on Twitter: @yowflier

Here’s how Ottawa’s $82B stimulus package breaks down for workers and businesses affected by COVID-19

The federal government’s “extraordinary” stimulus package will provide direct payments to Canadians forced to stay at home and wage subsidies for small businesses to keep employees on the payroll.

OPEN DIGITAL ACCESS Mar 18, 2020 by Bruce Campion-Smith Toronto Star

OTTAWA—The federal government's "extraordinary" stimulus package will provide direct payments to Canadians forced to stay at home due to COVID-19, and wage subsidies for small businesses to keep employees on the payroll.

Prime Minister Justin Trudeau announced the action Wednesday morning, saying it would total $27 billion in direct support and a further $55 billion to ensure the liquidity of companies and households through tax deferrals.

"Our government is taking extraordinary action," Trudeau said, adding that the total investment equals three per cent of the country's GDP.

"We are confident that getting these measures out ... within the next few weeks to make up for lost income will make a significant difference," the prime minister said.

Related Content

The measures announced Wednesday include:

•a temporary boost to Canada Child Benefit payments for families;

•an Emergency Care Benefit of up to $900 bi-weekly for up to 15 weeks to provide income support to workers who must stay home and do not have access to paid sick leave. This includes those who are self-employed, sick or quarantined;

•an Emergency Support Benefit from the Canada Revenue Agency to provide up to $5 billion in support to workers who are not eligible for Employment Insurance (EI) and who are facing unemployment;

•helping low-income families with a special top-up payment under the Goods and Services Tax (GST) credit.

•extending the tax filing deadline for individuals to June 1 and giving taxpayers until Aug. 31 to pay any outstanding tax bills without penalty. Businesses will also be able to defer tax payments;

•Providing eligible small businesses a 10 per cent wage subsidy for the next 90 days, up to a maximum of $1,375 per employee and $25,000 per employer to encourage employers to keep their workers on the payroll;

•a six-month, interest-free, moratorium on Canada Student Loan payments;

•$305 million for an Indigenous Community Support Fund to address immediate needs in First Nations, Inuit, and Métis Nation communities;

•expanding Export Development Canada's ability to provide support to domestic businesses.

Bruce Campion-Smith is an Ottawa-based reporter covering national politics. Follow him on Twitter: @yowflier

Bruce Campion-Smith is an Ottawa-based reporter covering national politics. Follow him on Twitter: @yowflier

Here’s how Ottawa’s $82B stimulus package breaks down for workers and businesses affected by COVID-19

The federal government’s “extraordinary” stimulus package will provide direct payments to Canadians forced to stay at home and wage subsidies for small businesses to keep employees on the payroll.

OPEN DIGITAL ACCESS Mar 18, 2020 by Bruce Campion-Smith Toronto Star

OTTAWA—The federal government's "extraordinary" stimulus package will provide direct payments to Canadians forced to stay at home due to COVID-19, and wage subsidies for small businesses to keep employees on the payroll.

Prime Minister Justin Trudeau announced the action Wednesday morning, saying it would total $27 billion in direct support and a further $55 billion to ensure the liquidity of companies and households through tax deferrals.

"Our government is taking extraordinary action," Trudeau said, adding that the total investment equals three per cent of the country's GDP.

"We are confident that getting these measures out ... within the next few weeks to make up for lost income will make a significant difference," the prime minister said.

Related Content

The measures announced Wednesday include:

•a temporary boost to Canada Child Benefit payments for families;

•an Emergency Care Benefit of up to $900 bi-weekly for up to 15 weeks to provide income support to workers who must stay home and do not have access to paid sick leave. This includes those who are self-employed, sick or quarantined;

•an Emergency Support Benefit from the Canada Revenue Agency to provide up to $5 billion in support to workers who are not eligible for Employment Insurance (EI) and who are facing unemployment;

•helping low-income families with a special top-up payment under the Goods and Services Tax (GST) credit.

•extending the tax filing deadline for individuals to June 1 and giving taxpayers until Aug. 31 to pay any outstanding tax bills without penalty. Businesses will also be able to defer tax payments;

•Providing eligible small businesses a 10 per cent wage subsidy for the next 90 days, up to a maximum of $1,375 per employee and $25,000 per employer to encourage employers to keep their workers on the payroll;

•a six-month, interest-free, moratorium on Canada Student Loan payments;

•$305 million for an Indigenous Community Support Fund to address immediate needs in First Nations, Inuit, and Métis Nation communities;

•expanding Export Development Canada's ability to provide support to domestic businesses.

Bruce Campion-Smith is an Ottawa-based reporter covering national politics. Follow him on Twitter: @yowflier

Bruce Campion-Smith is an Ottawa-based reporter covering national politics. Follow him on Twitter: @yowflier