COVID-19 support measures: At a glance

The federal government continues to provide significant economic measures to support Canadians affected financially by the pandemic.

Please scroll down to see expired programs, organized by their relevance to medical students and residents, practising physicians, retired physicians, and family members.

Updated: October 30, 2020

Federal Measures
Medical student & resident	Practising physician	Retired physician	Family member
Provincial Measures
Alberta	British Columbia	Manitoba	New Brunswick
Newfoundland	NWT	Nova Scotia	Ontario
Prince Edward Island	Quebec	Saskatchewan	Yukon

Here is a roundup of current measures

Canada Emergency Wage Subsidy (CEWS)

Qualifying business, which could include physicians with employees (incorporated or not), can receive a temporary wage subsidy if they have experienced a decline in revenues. The subsidy is available retroactively from March 15, 2020 until December 19, 2020.

Learn more about the program here, expected to be extended until June 2021.

Canada Emergency Business Account (CEBA)

A line of credit of $60,000 to qualifying business customers:

0% interest until December 31, 2022
no minimum monthly principal payments until December 31, 2022
principal repayments can be made at any time
$20,000 loan forgiveness is available if the outstanding balance is fully paid on or before December 31, 2022.

Note: To qualify, your business will need to show it paid between $20,000 to $1.5 million in total payroll in 2019. If your payroll was below $20,000, you can qualify if you have eligible non-deferrable expenses between $40,000 and $1.5 million. The program has been extended until December 31, 2020.

If you're a Scotiabank customer, you can apply through Scotia OnLine, Mobile Banking, and Scotiabank.com. For details, please see Business Banking support at Scotiabank.com.

Canada Recovery Benefit (CRB)

Provides up to $500/week for 26 weeks for those who are employed or self-employed and not eligible for Employment Insurance, who are available and looking for work, or who have had their income reduced by at least 50% due to COVID-19

Canada Recovery Sickness Benefit (CRSB)

Provides up to $500/week for 2 weeks for workers who are sick or who must self-isolate for COVID-19 reasons and who are not being paid by their employers

Canada Recovery Caregiving Benefit (CRCB)

Provides up to $500/week for 26 weeks per household for those who are unable to work at least 50% of their normal hours because of either:

the closure of a school/daycare related to a child under 12 or
they must provide care to a family member who is sick, must quarantine or is at high risk of serious health implications due to COVID-19

Canada Emergency Rent Subsidy (CERS)

Provides rent and mortgage support directly to tenants until June 2021 for qualifying organizations affected by COVID-19

subsidizes a percentage of their expenses, on a sliding scale, up to a maximum of 65% of eligible expenses until December 19, 2020
claims can be made retroactively for the September 27 to October 24, 2020 period

A 25% top-up is available for organizations temporarily shut down by a mandatory public health order issued by a qualifying public health authority.

Work-sharing program

Eligible employees can receive employment insurance benefits if they agree to reduce their normal working hours and share the available work.

Effective March 15, 2020 to March 14, 2021
A work-sharing unit must reduce its hours of work by at least 10% to 60%.
The work-sharing agreement must be at least 6 consecutive weeks and can last up to 26 consecutive weeks.
Employers may be able to extend their agreements up to a total of 76 weeks.
The work-sharing program reduces the benefit that their employer is entitled to receive under the Canada Emergency Wage Subsidy.

RRIF withdrawal rates

For 2020 only, the RRIF minimum withdrawal rates have been reduced by 25%.

Resource: See MD’s page on minimum RRIF withdrawal rates for 2020.

EXPIRED PROGRAMS

Medical students and residents

Personal tax return (including Quebec)		Normally due	Now due
	Tax return:	April 30	June 1
	Taxes owing:	April 30	September 30
	Tip: If you’re expecting a tax refund, try to file earlier. This will speed up determination of your eligibility for the GST/HST credit, Canada Child Benefit and other provincial rebates, since these are based on your tax filing.
GST/HST credit	Extra payment: If you’re eligible for this credit, you will get a one-time extra payment in April. Regular payments occur in January, April, July and October. Tip: Remember you need to file your 2019 tax return to continue receiving benefits like this one.
Canada Student Loans	Pause on payments: There will be a pause on repayment schedules from March 30 until September 30. Interest won’t accrue during this period. Note: This is for the federal portion of the student loan only. The deferral is automatic, so you don’t need to apply for the pause.
Canada Child Benefit	One-time extra: If you’re eligible for the CCB, you will get a one-time extra payment of $300 per child in May. Tip: File your personal tax return as soon as possible so it doesn’t delay the determination of your CCB benefits for 2020–21.
Canada Emergency Student Benefit	The government will provide payment of $1,250 a month from May to August to the following: College and university students currently in school Students who plan to start post-secondary school in September 2020 College and university students who graduated in December 2019 or later, if due to COVID-19, they have been unable to work, unable to find work, are working but earning less than $1,000 per month, do not qualify for CERB or are not eligible for employment insurance (EI). They must also attest they are seeking work if they apply on that basis. Note: The amount rises to $2,000 per month for students/recent graduates who have a disability or dependants.
Canada Emergency Response Benefit	The government will provide a taxable payment of $2,000 per 4-week period for up to 28 weeks to the following: workers who must stop working due to COVID-19 and do not have access to paid leave or income support; workers who are sick, quarantined or taking care of someone with COVID-19; working parents who must stay home without pay to care for their children who are sick or at home due to school and daycare closures; workers who are still employed, but who are not being paid because there is not enough work and they have been asked to stay home; wage earners and self-employed individuals who would not normally be eligible for Employment Insurance. Note: You can earn up to $1,000 per month while collecting the CERB. See the full eligibility details here and apply through the CRA’s My Account portal. The government is planning to transition to employment insurance in upcoming weeks. See details here.
Mortgage payments	Deferral: The big 6 banks are committed to deferring the mortgage payments of impacted Canadians on a case-by-case basis. If you have a mortgage with Scotiabank and you are experiencing financial hardship, you can request a mortgage deferral for up to 6 months. For details, please see the latest updates at Scotiabank.com. Note: During the deferral period, interest will continue to accrue, so your payments will be slightly higher after the deferral period ends. You will pay more interest over the life of your mortgage, but a deferral will help with your short-term cash flow.

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Practising physicians

Personal tax return (including Quebec)		Normally due	Now due
	Tax return:	April 30	June 1
	Taxes owing:	April 30	September 30
	Tip: If you’re expecting a tax refund, try to file earlier. This will speed up determination of your eligibility for the GST/HST credit, Canada Child Benefit and other provincial rebates, since these are based on your tax filing.
Personal tax return with self-employment/business earnings (including Quebec)		Normally due	Now due
	Tax return:	June 15	June 15 (unchanged)
	Taxes owing:	April 30	September 30
Corporate tax return		Normally due	Now due
	Tax return:	i) If due between March 18 and May 30 ii) if due between May 31 and August 31	i) June 1 ii) September 1
	Taxes owing:	If due between May 31 and September 1	September 1
Trust tax return		Normally due	Now due
	Tax return:	i) March 30 ii) if due between March 31 and May 31 iii) if due between June 1 and August 31	i) May 1 ii) June 1 iii) September 1
	Taxes owing and instalments (all trusts):	between March 19 and August 31	September 1
Canada Child Benefit	One-time extra: If you’re eligible for the CCB, you will get a one-time extra payment of $300 per child in May. Tip: File your personal tax return as soon as possible so it doesn’t delay the determination of your CCB benefits for 2020–21.
Temporary Wage Subsidy (if you do not qualify for the Canada Emergency Wage Subsidy)	Eligible small employers, which could include incorporated physicians with employees, can receive a temporary wage subsidy during the 3 months from March 18 to June 19, 2020. The subsidy is equal to 10% of remuneration paid during the period, up to a maximum of $1,375 per employee and $25,000 per employer. Note: If you’re an employer who is eligible for the small business deduction, you will be eligible for this wage subsidy.
Canada Emergency Response Benefit	The government will provide a taxable payment of $2,000 per 4-week period for up to 28 weeks to the following: workers who must stop working due to COVID-19 and do not have access to paid leave or income support; workers who are sick, quarantined or taking care of someone with COVID-19; working parents who must stay home without pay to care for their children who are sick or at home due to school and daycare closures; workers who are still employed, but who are not being paid because there is not enough work and they have been asked to stay home; wage earners and self-employed individuals who would not normally be eligible for Employment Insurance. Note: You can earn up to $1,000 per month while collecting the CERB. See the full eligibility details here and apply through the CRA’s My Account portal. The government is planning to transition to employment insurance in upcoming weeks. See details here.
BDC BCAP (access to medium- to long-term credit)	Eligible small and medium-sized businesses impacted by COVID-19 can apply for a term loan of up to $6.25 million. Loan should be used to help bridge your business’s operating expenses (e.g., payroll, rent, utilities, taxes and other fixed costs) Amortizations up to 20 years Amount you can borrow is based on your business revenues The deadline to apply for the BDC BCAP is September 30, 2020. For details, please see Business Banking support at Scotiabank.com. Known officially as the Co-Lending Program for Small and Medium-Sized Enterprises* under the Business Credit Availability Program through Business Development Canada*
EDC BCAP (access to short-term credit)	Eligible small and medium-sized businesses impacted by COVID-19 can apply for an operating credit (line of credit) or term loan of up to $6.25 million. Designed to meet your short-term liquidity/working capital requirements to sustain operations Access to a 364-day credit; can renew for an additional 364 days Amount you can borrow is based on your business revenues The deadline to apply for the EDC BCAP is September 30, 2020. For details, please see Business Banking support at Scotiabank.com. Known officially as the Loan Guarantee for Small and Medium-Sized Enterprises* under the Business Credit Availability Program through Export Development Canada*
Canada Emergency Commercial Rent Assistance (CECRA)	If you are a property owner Apply for forgivable loans that will cover 50% of the monthly gross rent owed by impacted small business tenants for April, May, June, July and August 2020 Deadline for the July/August extension is September 14, 2020 If you are a small business tenant experiencing financial hardship (70% decline in revenues) and the property owner has applied for the program: Get a minimum 75% rent reduction for April, May, June, July and August 2020 See full eligibility details here
Mortgage payments	Deferral: The big 6 banks are committed to deferring the mortgage payments of impacted Canadians on a case-by-case basis. If you have a mortgage with Scotiabank and you are experiencing financial hardship, you can request a mortgage deferral for up to 6 months. For details, please see the latest updates at Scotiabank.com. Note: During the deferral period, interest will continue to accrue, so your payments will be slightly higher after the deferral period ends. You will pay more interest over the life of your mortgage, but a deferral will help with your short-term cash flow.
Credit card and line of credit	If you’re a Scotiabank customer who’s facing financial hardship as a result of COVID-19, you may be eligible for the following: Credit card: You can ask to defer your minimum payment for up to 3 months. During the deferral period, interest with continue to accrue and will be payable once the deferral period is over. Effective April 1, 2020, Scotiabank will be reducing personal and small business credit card interest rates to 10.99% for customers that are experiencing financial hardship due to COVID-19 and are receiving a credit card minimum payment deferral. Line of credit: You can ask to defer your minimum payments for up to 3 months. During the deferral period, interest will continue to accrue and will be payable once the deferral period is over. For details, please see the latest updates at Scotiabank.com.

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Retired physicians

Personal tax return (including Quebec)		Normally due	Now due
	Tax return:	April 30	June 1
	Taxes owing:	April 30	September 30
	Tip: If you’re expecting a tax refund, try to file earlier.
Corporate tax return		Normally due	Now due
	Tax return:	i) If due between March 18 and May 30 ii) if due between May 31 and August 31	i) June 1 ii) September 1
	Taxes owing:	If due between May 31 and September 1	September 1
Trust tax return		Normally due	Now due
	Tax return:	i) March 30 ii) if due between March 31 and May 31 iii) if due between June 1 and August 31	i) May 1 ii) June 1 iii) September 1
	Taxes owing and instalments (all trusts):	between March 19 and August 31	September 1

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Family members

Personal tax return (including Quebec)		Normally due	Now due
	Tax return:	April 30	June 1
	Taxes owing:	April 30	September 30
	Tip: If you’re expecting a tax refund, try to file earlier. It will speed up determination of your eligibility for the GST/HST credit, Canada Child Benefit or other provincial rebates, since these are based on your tax filing.
Canada Child Benefit	One-time extra: If you’re eligible for the CCB, you will get a one-time extra payment of $300 per child in May. Tip: File your personal tax return as soon as possible so it doesn’t delay the determination of your CCB benefits for 2020–21.
Temporary Wage Subsidy (if you do not qualify for the Canada Emergency Wage Subsidy)	Eligible small employers, which could include incorporated physicians with employees, can receive a temporary wage subsidy during the 3 months from March 18 to June 19, 2020. The subsidy is equal to 10% of remuneration paid during the period, up to a maximum of $1,375 per employee and $25,000 per employer. Note: If you’re an employer who is eligible for the small business deduction, you will be eligible for this wage subsidy.
Canada Emergency Response Benefit	The government will provide a taxable payment of $2,000 per 4-week period for up to 28 weeks to the following: workers who must stop working due to COVID-19 and do not have access to paid leave or income support; workers who are sick, quarantined or taking care of someone with COVID-19; working parents who must stay home without pay to care for their children who are sick or at home due to school and daycare closures; workers who are still employed, but who are not being paid because there is not enough work and they have been asked to stay home; wage earners and self-employed individuals who would not normally be eligible for Employment Insurance. Note: You can earn up to $1,000 per month while collecting the CERB. See the full eligibility details here and apply through the CRA’s My Account portal. The government is planning to transition to employment insurance in upcoming weeks. See details here.
BDC BCAP (access to medium- to long-term credit)	Eligible small and medium-sized businesses impacted by COVID-19 can apply for a term loan of up to $6.25 million. Loan should be used to help bridge your business’s operating expenses (e.g., payroll, rent, utilities, taxes and other fixed costs) Amortizations up to 20 years Amount you can borrow is based on your business revenues The deadline to apply for the BDC BCAP is September 30, 2020. For details, please see Business Banking support at Scotiabank.com. Known officially as the Co-Lending Program for Small and Medium-Sized Enterprises* under the Business Credit Availability Program through Business Development Canada*
EDC BCAP (access to short-term credit)	Eligible small and medium-sized businesses impacted by COVID-19 can apply for an operating credit (line of credit) or term loan of up to $6.25 million. Designed to meet your short-term liquidity/working capital requirements to sustain operations Access to a 364-day credit; can renew for an additional 364 days Amount you can borrow is based on your business revenues The deadline to apply for the EDC BCAP is September 30, 2020. For details, please see Business Banking support at Scotiabank.com. Known officially as the Loan Guarantee for Small and Medium-Sized Enterprises* under the Business Credit Availability Program through Export Development Canada*
Canada Emergency Commercial Rent Assistance (CECRA)	If you are a property owner Apply for forgivable loans that will cover 50% of the monthly gross rent owed by impacted small business tenants for April, May, June, July and August 2020 Deadline for the July/August extension is September 14, 2020 If you are a small business tenant experiencing financial hardship (70% decline in revenues) and the property owner has applied for the program: Get a minimum 75% rent reduction for April, May, June, July and August 2020 See full eligibility details here
Mortgage payments	Deferral: The big 6 banks are committed to deferring the mortgage payments of impacted Canadians on a case-by-case basis. If you have a mortgage with Scotiabank and you are experiencing financial hardship, you can request a mortgage deferral for up to 6 months. For details, please see the latest updates at Scotiabank.com. Note: During the deferral period, interest will continue to accrue, so your payments will be slightly higher after the deferral period ends. You will pay more interest over the life of your mortgage, but a deferral will help with your short-term cash flow.
Credit card and line of credit	If you’re a Scotiabank customer who’s facing financial hardship as a result of COVID-19, you may be eligible for the following: Credit card: You can ask to defer your minimum payment for up to 3 months. During the deferral period, interest will continue to accrue and will be payable once the deferral period is over. Effective April 1, 2020, Scotiabank will be reducing personal and small business credit card interest rates to 10.99% for customers that are experiencing financial hardship due to COVID-19 and are receiving a credit card minimum payment deferral. Line of credit: You can ask to defer your minimum payments for up to 3 months. During the deferral period, interest will continue to accrue and will be payable once the deferral period is over. For details, please see the latest updates at Scotiabank.com.

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If you have any questions about these measures, please contact your MD Advisor*.

* MD Advisor refers to an MD Management Limited Financial Consultant or Investment Advisor (in Quebec), or an MD Private Investment Counsel Portfolio Manager.

Banking and credit products and services are offered by The Bank of Nova Scotia “Scotiabank.” Credit and lending products are subject to credit approval by Scotiabank.

The above information should not be construed as offering specific financial, investment, foreign or domestic taxation, legal, accounting or similar professional advice nor is it intended to replace the advice of independent tax, accounting or legal professionals.