This table includes highlights of several financial and economic measures announced by different levels of government.
Last updated: June 8, 2020
This page will be updated regularly; however, we encourage you to refer to the official government links below for the most up-to-date information.
|Ontario’s Action Plan: Responding to COVID‑19||Highlights include:
|Tax filing deadlines||For individuals, the deadline to file your 2019 income taxIncome tax A charge you pay based on your total income from all sources. The Canadian government and your province set the rate.+ read full definition and benefitBenefit Money, goods, or services that you get from your workplace or from a government program such as the Canada Pension Plan.+ read full definition return is extended to June 1, 2020.
For self-employed individuals and their spouse (or common-law partner), the deadline to file your 2019 income taxTax A fee the government charges on income, property, and sales. The money goes to finance government programs and other costs.+ read full definition and benefit return is still June 15, 2020.
For trusts with a tax year ending December 31, 2019, the deadline to file your return is extended to May 1, 2020.
The deadline to pay any balance due has been extended to September 1, 2020.
|Support for seniors and vulnerable Canadians||
|Canada Emergency Response Benefit (CERB)||The federal government established the Canada Emergency Response Benefit (CERB) that provides a taxable amount of $2,000 a month for up to four months to:
On April 15, changes were announced to the eligibility rules to allow:
Canadians will begin to receive CERB payments within 10 days of application and be paid every four weeks from March 15, 2020 until October 3, 2020.
The application process begins on April 6, 2020 using a phased approach based on the month you were born.
Student Benefit (CESB)
|The federal government established the Canada Emergency Student Benefit (CESB) to provide financial support to post-secondary students, recent post-secondary and high school graduates who are unable to find work due to COVID-19.
This benefit is for students who do not qualify for the Canada Emergency Response Benefit (CERB) or Employment Insurance (EI)Employment insurance (EI) A government plan that helps unemployed Canadians while they look for work or upgrade their skills. EI may also help Canadians who are sick, pregnant or caring for a newborn or adopted child, as well as those who must care for a family member who is seriously ill.+ read full definition.
The application process begins May 15, 2020 and ends September 30, 2020.
You must apply separately for each of the four periods (months) to continue to receive the benefit. To apply you need your SIN, and your postal code. The payment will be directly deposited in your accountAccount An agreement you make with a financial institution to handle your money. You can set up an account for depositing and withdrawing, earning interest, borrowing, investing, etc.+ read full definition if the Canada Revenue Agency has your information on file. Otherwise, it will be sent by cheque.
To determine your eligibility and apply visit the Canada Emergency Student Benefit page on Canada.ca
|Property taxes||Several municipalities have announced property tax deferrals. Contact your municipality for more information.|
|Canada child benefit and GST credit||An increase to the Canada Child Care Benefit (CCB) of $300 for 2019-2020. For those who already receive the CCB, you do not need to re-apply.
An additional GST credit of approximately $400 for single individuals and $600 for couples.
|Measures have been introduced to help Canadian businesses which include:
|Mortgage support||Many banks have announced that they will provide financial relief to their customers on a case-by-case basis. This may include mortgageMortgage A loan that you get to pay for a home or other property. Often the loan is for 20 years or more. You make a set number of payments for a set amount each year.+ read full definition payment deferral for up to 6 months. Contact your lenderLender Any person or organization that lends money.+ read full definition for more information.|
Learn more about the Government of Ontario’s Action Plan: Responding to COVID-19 and the Government of Canada’s COVID-19 Economic Response Plan.