Financial resources and questions answered during COVID-19: a primer

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Hub Staff

With much of the province at somewhat of a stand still and various restrictions on employment and business operations due to COVID-19, many residents in Grey Bruce are looking for answers to questions around resources and support during the pandemic.

LOCAL RESOURCES and SUPPORT

The Do, available at thedo.ca, was launched March 26 by the United Way Bruce Grey and is looking to connect volunteers with people in need in Bruce and Grey counties.

Individuals wishing to volunteer can do so as little or as much as they choose. With safety a priority, focus will be placed on remote rather than in-person supports.

Individuals looking for support or anyone interested in volunteering or making a financial contribution can visit thedo.ca for more.

INFORMATION FOR RENTERS

Ontarians who are able to pay rent should pay rent, said Francesca Dobbyn, Executive Director at United Way Bruce Grey. Anyone who is not able to pay rent can contact their landlord and see if they can negotiate a rent reduction or payment arrangements for the short term.

"Any agreement should be in writing or via email," stressed Dobbyn. "So there is proof of the arrangement should it be needed later."

Dobbyn said in Ontario the Landlord Tenant Board (LTB) is not operating currently and it takes an order from the LTB to evict someone but cautioned that as soon as things return to normal, all past due rent payments will become due and, if not paid, evictions could proceed.

In the COVID-19 information for landlords section at ontario.ca, it states that, "Landlords can give tenants an eviction notice, but eviction hearings and orders are on hold except for urgent disputes such as those involving illegal acts or serious safety concerns," further stating that "Enforcement of eviction orders is suspended until further notice. In urgent circumstances, landlords could go to court to get an eviction order enforced."

Low income individuals may be able to access Social Service dollars to pay April’s rent, added Dobbyn.

INFORMATION FOR HOMEOWNERS

Mortgage deferrals are happening on a case by case, lender by lender basis, reported Dobbyn.

In a COVID-19 update from national mortgage brokerage, Mortgage Architects, it stated that depending on the lender, there may be options available to homeowners such as:

• Deferral of payments
• Re-amortization of the loan
• Capitalization of outstanding interest and costs
• Special payment arrangements

Dobbyn said mortgage holders should contact their lender for more information.

UTILITIES

The Ontario Energy Board (OEB) has suspended disconnections of electricity until July 31, 2020, said Dobbyn.

"Natural gas is expected but not obligated to follow the same guidelines. The OEB will be monitoring the natural gas companies around that expectation," added Dobbyn.

More here: https://www.oeb.ca/sites/default/files/OEBltr-Guidance-LDC-GD-COVID19-20200327.pdf

FINANCIAL SUPPORT

Canada Emergency Response Benefit - Information sourced from canada.ca said that the Government of Canada has introduced the new Canada Emergency Response Benefit (CERB), providing a taxable benefit of up to $2,000 a month for up to four months. The CERB will be available to:

• Workers who must stop working due to COVID19 and do not have access to paid leave or other income support
• Workers who are sick, quarantined, or taking care of someone who is sick with COVID-19
• Working parents who must stay home without pay to care for children that are sick or need additional care because of school and daycare closures
• Workers who still have their employment but are not being paid because there is currently not sufficient work and their employer has asked them not to come to work
• Wage earners and self-employed individuals, including contract workers, who would not otherwise be eligible for Employment Insurance

The CERB will be accessible through a secure web portal beginning in early April. Applicants will also be able to apply via an automated telephone line or via a toll-free number.

Canada Child Benefit - A $300 per child increase is also being provided through the Canada Child Benefit for 2019-20 and will be delivered as part of the scheduled CCB payment in May, according canada.ca. Those who already receive CCB do not need to re-apply.

Goods and Services Tax Credit - A one-time special payment by early May is being provided through the Goods and Services Tax credit for low- and modest-income families. The average additional benefit will be close to $400 for single individuals and close to $600 for couples.

There is no need to apply for this payment. If you are eligible, you will get it automatically.

FILING INCOME TAX

The filing due date for 2019 tax returns for individuals has been deferred until June 1, 2020.

Any new income tax balances due, or instalments, are being deferred until August 31, 2020 without incurring interest or penalties.

"If you expect to receive benefits under the Goods and Services Tax credit or the Canada Child Benefit, we encourage you to not delay your 2019 return filing to ensure that your entitlements are properly determined," read canada.ca.

INFORMATION FOR BUSINESS OWNERS

GST/HST - From information acquired through canada.ca, the GST/HST amounts collected by businesses are generally due by the end of the month following the vendor’s reporting period. The Minister of National Revenue has extended until June 30, 2020 the time that:

• Monthly filers have to remit amounts collected for the February, March and April 2020 reporting periods
• Quarterly filers have to remit amounts collected for the January 1, 2020 through March 31, 2020 reporting period
• Annual filers, whose GST/HST return or instalment are due in March, April or May 2020, have to remit amounts collected and owing for their previous fiscal year and instalments of GST/HST in respect of the filer’s current fiscal year

Loan Programs and Local Business - New loan programs are being created for small and medium enterprises, including the Canada Emergency Business Account, a New Loan Guarantee and a New Co-Lending Program.

More information is available at canada.ca/en/department-finance/news/2020/03/additional-support-for-canadian-businesses-from-the-economic-impact-of-covid-19.html#_Deferral_of_Sales

The Saugeen Shores Chamber of Commerce is keeping up to date on employment standards, new legislation as well as support and relief programs available for business owners.

"Information is changing quickly," said Kimberley Inniss-Petersen, Executive Director with the Chamber, adding that information she may receive one day can be outdated as early as the next.

Innis-Petersen is participating in teleconference meetings multiple times a week with Chamber and government officials, both provincially and federally, in order to keep up to date and added that more news is expected in the coming days and weeks pertaining to relief programs and support for business owners.

The Chamber has created an online resource for business owners and community members, offering updates on various business operations in Saugeen Shores, a Pandemic Preparedness Toolkit, and a Business Impact Survey.

"Our building is not open to the public but our staff is working," said Innis-Petersen. "We're answering emails, taking phone calls, continuing to do what we normally do as a chamber," she said. The Saugeen Shores Chamber of Commerce can be reached at at 519-832-2332 or info@saugeenshores.ca.