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COVID-19 economic support measures announced in the past weeks will begin to become accessible in the weeks to come. Some benefits, like the Canada Emergency Response Benefit (CERB) and the Canada Emergency Wage Subsidy CEWS, will be accessible through CRA’s My Account and payments will be made through direct deposit or cheques. CRA My Account is a secure portal that lets you view your personal income tax and benefit information and manage your tax affairs online. Direct deposit payments will be received more quickly than cheques.
CERB applications begin on Monday, April 6, 2020, and can be made in two ways:
If you intend to apply for these benefits, you are advised to prepare in advance in order to make your application as easy and as quick as possible. Ensure you are set up for an online application and ensure you have updated direct deposit information on file with CRA.
Before You Apply – Ensure you are set up with a CRA My Account:
If you are applying online, you will need a CRA My Account to apply.
If you already have a CRA My Account, then ensure it is ready to use:
If you do not have a CRA My Account but you have a My Service Canada Account, you do not need to register for a CRA My Account. Instead, you should follow the steps below.
If you do not have CRA My Account or a My Service Canada Account, register for a CRA My Account by following the steps below:
Ensure your Direct Deposit and Mailing Information is up-to-date with the CRA:
The CRA will issue payments by direct deposit or cheque, based on the payment method they have on file for you. Ensure your direct deposit and mailing information is up to date. You can set up / update your direct deposit information by any of these methods:
How to Apply:
Application for CERB will begin on Monday, April 6, 2020. You can apply online or by phone:
To apply online, log in to CRA My Account: https://www.canada.ca/en/revenue-agency/services/e-services/e-services-individuals/account-individuals.html
To apply by phone, call 1-800-959-2019 and follow the instructions. If you are calling the CRA on behalf of someone else, you must be an authorized representative. To verify your identity, you will need:
Guidance for when to apply is based on your birth month as follows:
Birth Month | Apply for CERB on: | Best Day to Apply |
January, February, March | Mondays | April 6 |
April, May, June | Tuesdays | April 7 |
July, August, September | Wednesdays | April 8 |
October, November, December | Thursdays | April 9 |
Any month | Fridays, Saturdays, Sundays | April 10 |
After You Apply:
Understand the payment periods
If you are eligible for the CERB, you can expect $2,000 ($500 per week) for a 4-week period. Each payment of the CERB covers a 4-week period, beginning March 15, 2020. When you apply, it is for a single payment for the 4-week period. If your situation continues, you can apply for an additional 4-week period, up to a maximum of 16 weeks (4 periods in total).
Note: These benefits are taxable and you will need to report any payments received on next year’s tax filing. An information slip will be made available for the 2020 tax year in My Account under Tax Information Slips (T4 and more).
When to Expect Payment
If you are getting your payment by direct deposit, expect your payment within 3 business days from the day you submitted your application
Complete the application once it becomes available from April 6 onwards.
If you are getting your payment by cheque, expect to get the cheque within 10 business days from the day you submitted your application.
Apply Again Every 4 Weeks
You will need to apply and confirm your eligibility for the Canada Emergency Response Benefit every 4 weeks (to a maximum of 16 weeks) if your situation continues.
Who Can Apply:
To be eligible, you must meet the following requirements:
If you would like more information on this topic, please contact a member of the Empire CPA team by filling out the contact form below.
Canadian and foreign tax laws are complex and have a tendency to change on a frequent basis. As such, the content published above is believed to be accurate as of the date of this post. Before implementing any tax planning, please seek professional advice from a qualified tax professional. Empire, Chartered Professional Accountants will not accept any liability for any tax ramifications that may result from acting based on the information contained above.
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