To Jane’s Community in British Columbia,
The following COVID-19 Small Business Response Plan is a list of resources that may be of assistance to you and your team. Some of the resources may not apply to you, but taking advantage of 1 or 2 could significantly improve your financial health and that of your employees.
We hope this helps.
Please note: We will update this page with new content whenever possible.
BC Recovery Benefit for eligible families and single parents: BC Recovery Benefit
- $1,000 for eligible families and single parents with a net income of up to $125,000
- Reduced benefit amount for eligible families and single parents with a net income of up to $175,000
- $500 for eligible individuals with a net income of up to $62,500
- Reduced benefit amount for eligible individuals with a net income of up to $87,500
- Trudeau announced new business loan relief program that will cover up to 75% of commercial rent costs through Canada Mortgage and Housing Corp. A portion of these loans will be non-repayable. Details and application process are yet to be released. One comment that came with this announcement was that the plan is that this relief does not come with cumbersome eligibility criteria so that the aid can be accessed fairly easily.
- New CERB eligibility rules: people are now allowed to earn up to $1,000 per month while collecting CERB (this includes part-time and seasonal workers now).
April 6 - Canada CERB Portal
The portal for accessing the CERB is at Canada.ca where Canadians can apply, enter direct deposit information, and start receiving $2,000 per month for 4 months within 10 days.
New aid coming for contract workers
Small Business Response Plan
Jane’s Canadian Small Business Response Plan: Here you can find our list of federal support for small businesses.
The B.C. Emergency Benefit for Workers will provide a one-time $1,000 payment for B.C. residents who lost income due to COVID-19. More information will be available soon.
The Climate Action Tax Credit is available to those who earn below a certain threshold and you automatically apply when you file your taxes. You don’t have to do anything special to apply other than to file your taxes.
Effective immediately, many provincial tax filing and payment deadlines are deferred to Sept. 30, 2020. Full details available here.
BC Hydro Relief Fund: Small businesses that need to close due to COVID-19, may be eligible to have their business’ electricity use charges waived for up to three months. Application forms to open the week of April 13.
COVID-19 Customer Assistance Program: BC Hydro is also offering bill deferral and payment plans with no penalty for customers struggling due to impacts of COVID-19. Customers are encouraged to call BC Hydro at 1-800-224-9376 to discuss options.
BC Hydro - Rate Changes: BC Hydro is halting all service disconnections for non-payment of bills and reducing electricity rates by 1%.
Vancity (Vancouver credit union) is deferring payments of mortgages and other loans for six months on a case-by-case basis. More information available here.
Effective immediately, Canada’s six largest banks — RBC, TD, BMO, Scotiabank, CIBC and National Bank — have also agreed to allow mortgage payment deferrals for up to six months for those affected by COVID-19. Read More.
BC Student Loans: All British Columbia student loan borrowers will temporarily have their repayments suspended until September 30, 2020. Repayment will be paused automatically. More information available here.
BC RMT & COVID-19: Here you can find our list of compiled resources for RMTs in BC.