With the global outbreak of the COVID-19 pandemic, the Canadian government has introduced a series of special anti-epidemic measures, sparing no effort to support its national economy and ensure the safety of its citizens.
Investing 82 Billion CAD to Combat the Pandemic
Canadian Prime Minister Justin Trudeau announced in Ottawa on the 18th that to address the COVID-19 pandemic, the Canadian government will invest 82 billion CAD to safeguard people's livelihoods and maintain economic stability. Under this plan, 27 billion CAD will directly assist Canadian workers and businesses affected by the pandemic; 55 billion CAD will be used for tax deferrals for individuals and small businesses, aiming to help them overcome cash flow shortages and reduce the impact of the pandemic on the Canadian economy.
Trudeau also announced that Canada and the United States have reached an agreement to close the border between the two countries, restricting non-essential travel while keeping the flow of goods unrestricted.
Providing Aid: Up to 6,750 CAD per Person
Canada is launching an emergency medical benefit, providing up to 900 CAD every two weeks for up to 15 weeks. In other words, each person can receive up to 6,750 CAD. This includes self-employed individuals who must stay at home but do not qualify for paid sick leave or Employment Insurance (EI), providing them with income support. This measure accounts for 10 billion CAD.
Mortgage Payment Deferral for 6 Months
Canada's six major banks have announced that they will provide financial support to Canadians affected by the COVID-19 pandemic. Neil Parmenter, President and CEO of the Canadian Bankers Association, stated in a tweet on March 18, 2020, that the Bank of Montreal, CIBC, National Bank of Canada, Royal Bank of Canada, Scotiabank, and TD Bank will allow customers to defer mortgage payments for up to 6 months and will also provide relief opportunities for other credit products, with these measures taking effect immediately.
Tax Filing Deadline Extended
For Canadians suffering from the spread of the pandemic, the Canada Revenue Agency (CRA) has decided to provide taxpayers with more flexibility. The deadline for individual tax returns will be extended to June 1, 2020. However, the CRA encourages those expecting a tax refund to file early so they can receive their GST credit sooner. Businesses and individuals who need to pay taxes can defer payments; taxes owed from now until September 2020, including income tax installments, can be deferred until September 1, 2020, without interest or penalties during this period.
Increasing the Canada Child Benefit
For 3.5 million families with children, the government has also introduced a special policy to temporarily increase the Canada Child Benefit (CCB) amount, with each child receiving up to 300 CAD more in annual allowance. Every family will receive an additional 300 CAD per child from the government this May, with more children resulting in more benefits.
Special Subsidy for Low- and Middle-Income Families
For 12 million low- and middle-income families, the government will provide additional assistance through a one-time special payment via the GST credit in early May 2020, which will double the 2019-2020 GSTC payment amount. This is equivalent to an increase of 400 CAD for each individual and 600 CAD for each couple.
In addition, Canada has also introduced several other aid measures:
1. To help maintain employment, the government will provide a temporary wage subsidy for small businesses, amounting to 10% of employee wages for 3 months, up to 1,375 CAD per employee and 25,000 CAD per employer;
2. A six-month interest-free period for student loan repayments;
3. Doubling funding for care programs for the homeless and providing 305 million CAD for the Indigenous Community Support Fund;
4. In Canada, if you suspect you have the illness, simply call the [811 hotline], and a specialist will come to your home to test you personally. The government has also set up multiple free testing sites; no health card or insurance is required, and everyone can be tested!
Additionally, to stop the spread of the COVID-19 virus, Canadian Prime Minister Justin Trudeau announced earlier on March 16 (Canadian time) that Canada would prohibit the entry of all travelers who are not Canadian citizens or permanent residents. Several specific details are as follows:
1. Canada prohibits the entry of all travelers who are not Canadian citizens or permanent residents;
2. Anyone with symptoms will not be allowed to board flights to Canada (according to the guidelines of the Public Health Agency of Canada, airlines will be required to conduct a basic health assessment for every passenger);
3. To help healthy Canadian citizens abroad who wish to return home, the government will provide corresponding assistance to facilitate their boarding;
4. Starting March 18, international flights will only be allowed to land at four international airports: Vancouver, Toronto, Montreal, and Calgary, to strengthen inspections;
5. Starting today, regardless of nationality, all travelers arriving in Canada will be asked if they have symptoms such as coughing, difficulty breathing, or fever. All passengers arriving on international flights are required to self-isolate for 14 days.
In the face of the pandemic, the various special policies introduced by Canada have warmed the hearts of people across the country and moved countless individuals. Attached is a tweet from Canadian Prime Minister Justin Trudeau: "No matter who you are or where you are, you don't have to worry about losing your job or running out of savings. The only thing you need to worry about now is your health."
Such a loving and warm country has attracted many people to immigrate here in recent years. Worldway Group, one of the top 500 Asian brands, offers Canadian investment immigration programs such as the Quebec Immigrant Investor Program for obtaining a PR card with a low threshold, as well as the Saskatchewan Immigrant Nominee Program, Prince Edward Island Provincial Nominee Program, Manitoba Provincial Nominee Program, and New Brunswick Provincial Nominee Program for quick landing, helping investors realize their dreams of the Great White North.
2020 is a year for health planning; health planning comes with status first. Canada, with its multiculturalism and strong inclusivity, is worth your choice. For details, please consult: Mainland China: 400-138-2929 Hong Kong, China: (852) 2802 8798
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