Personally Navigating through COVID-19

I wrote a business post about how to navigate your business through COVID-19 but I also wanted to let individuals know how they can take advantage of what is being offered PEI.

1. To apply for EI, please refer to this document to walk you through the steps. CLICK HERE

2. File your taxes as soon as possible in order to ensure that you receive CCB in July. Although the deadline is extended to June 1, 2020 to file personal taxes, the CRA warns that it may not be enough time to calculate your CCB for July so get your taxes done asap. Please note that our firm is offering FREE personal tax returns for individuals whose combined family income is under $30,000

3. CCB for May will be increased by $300 per child - you do not need to apply for this, it will be automatically added.

4. A one time double GST/HST credit will be paid to you in early May - you do not need to apply for this, it will be automatically given to you if you are already receiving GST/HST credits.

5. Students loans will be given a 6 month grace-free period

6. Reducing required minimum withdrawals from Registered Retirement Income Funds (RRIFs) by 25% for 2020

7. Please contact your bank to see if you qualify for mortgage deferral - conditions may apply.

I will add to this list as more information becomes available. Feel free to reach out to me if you have any questions related to taxes, bookkeeping or CRA COVID-19 measures. egalenterprises@gmail.com or 1-902-326-8300