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Canada passes new COVID-19 recovery benefits

Canada passes new COVID-19 recovery benefits

Bill C-4 enacts three new temporary benefits for individuals that may not qualify for EI

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Bill C-4 implements the federal government's latest temporary COVID-19 recovery benefits and received Royal Assent on October 2, 2020. The Canada Recovery Benefit (CRB), Canada Recovery Sickness Benefit (CRSB) and Canada Recovery Caregiving Benefit (CRCB) are intended to support eligible individuals who may not qualify for Employment Insurance or who are unable to fully return to work due to reasons related to COVID-19.

Application process

The application process for the CRSB and the CRCB opened on October 5, 2020, while the CRA says applications for the CRB will be accepted as of October 12, 2020. Eligible individuals can apply for these benefits online through the CRA's My Account portal or by phone.

The application process includes:

  • Shorter eligibility periods (one week for the CRSB and CRCB and two weeks for the CRB)
  • Retroactive periods (individuals will be required to apply after the period has ended)
  • 10% tax withholding at source
  • A three-to-five day window to receive payments for applications made by direct deposit, and a 10-12 day window by cheque by mail.

For more information, contact your KPMG advisor.

Information is current to October 6, 2020. The information contained in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's National Tax Centre at 416.777.8500

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