COVID-19 Update: Financial Information and Assistance Options

Financial Information and Assistance Options: Last Updated December 18, 2020

The Federal government has launched a tool to help people determine what supports they qualify for.

Below is the evolving list of options available for financial assistance as a result of the suspension of production related to COVID-19. Please note that some options are only available to DGC Members in Good Standing.

DISCLAIMER - To ensure you have the most up to date and relevant information for your EI & CERB applications, please consult Federal Government sources directly. Our assistance to Members cannot replace consultation with professionals. We advise Members to seek independent advice from accountants, lawyers, and/or have direct conversations with the CRA/Service Canada to help answer questions about your specific application.

Employment Insurance (EI) Regular Benefit: 

Members who are given notice of layoff and receive an ROE are eligible to apply for EI. If you have not received your ROE or do not see it in  your CRA My Service Canada Account, please contact the relevant payroll company: EP Canada or Cast & Crew.

Click here to apply for EI benefits.

Applying for EI? Click here for a step by step guide. Service Canada has a dedicated number to help with EI claims for quarantine, work closures, illness, etc: 1-833-381-2725.

Employment Insurance (EI) Sickness Benefit:

The Federal Government has waived the one week waiting period for EI in situations where: 

  • Quarantine is imposed by a public health official; or
  • Quarantine is recommended by a public health official AND the employee is asked by their employer, doctor, nurse or other person in authority (we assume this means a health care professional) to quarantine themselves.

Canada Emergency Response Benefit (CERB):

Update: CERB has been extended to December, 2020.

As part of the federal government's COVID-19 Economic Response Plan, an emergency response benefit has been created. Applications opened on April 6, 2020. In order to receive CERB you must reapply every month. Click here for the DGC BC's information guide on applying.

Note: if you have already applied for EI you will not need to re-apply for CERB.

BC Recovery Benefit:

You may quality for the BC Recovery Benefit payment of up to $500 for singles, and up to $1,000 for families. Applications opened December 18, 2020.

Click here for more application information.

Canada Emergency Wage Subsidy (CEWS):

We have been in discussion with Legal around the eligibility of Loan Out Corporations to access the Canadian Emergency Wage Subsidy and have determined that it's not possible for the DGC BC to obtain a legal opinion on this issue as there are many differing structures to these entities within our Membership. For this reason we're advising all Members who work through Loan Out Corporations to seek guidance from their Accounting and Legal professionals as to whether or not they are eligible for the Wage Subsidy based on their specific structure.

We encourage you to get accounting/legal advice before applying for either the Wage Subsidy or the Canada Emergency Response Benefit (CERB) because if you apply for the CERB you will likely not be eligible for the Wage Subsidy, even if you otherwise would qualify. The Wage Subsidy provides a significantly greater benefit - $3,667.51 per month compared to $2,000 for the CERB.

Federal Government Aid

The full list of federal government COVID-19 Economic Response Plan information can be found here.

Expansion of benefits include: 

If you haven't already signed up for My Account with the CRA, you should do that and, if possible, arrange for direct deposit in order to expedite the transfer of funds to you directly.

Tax Deadline Extended:

The Federal Government extended the tax filing deadline to June 1. Any payment due will be required as of the end of September.

Government-backed loans of up to $40,000 for businesses to bridge financing through this pandemic via the Canada Emergency Business Account (CEBA).

There is a moratorium on Canada Student Loan payments.

BC Provincial Government Aid

The BC Government's economic response announcements can be found here. Information about British Columbia government pandemic emergency programs can be found here.

  • The BC Emergency Benefit for Workers provides a one-time $1,000 payment for people who lost income
  • A one-time enhancement to the climate action tax credit will be paid in July 2020 for moderate to low-income families
  • Employers must excuse workers for sickness without requiring a doctor’s note
  • Taking unpaid, job-protected leave due to COVID-19
  • Support for renters and landlords include a new temporary rental supplement of up to $500/month for three months, halting evictions and freezing rents; as of June 20 this has been extended until the end of August

Monthly Bills

  • BC Temporary Rental Supplement (BC-TRS) Program, providing up to $500 per month to help renters and landloards during the COVID-19 pandemic, has opened applications.
  • BC Hydro has opened applications for relief in payments for residential electricity bills. Customers can defer bill payments or arrange for flexible payment plans with no penalty through the COVID-19 Customer Assistance Program. Customers experiencing job loss, illness or lost wages due to COVID-19 can access grants up to $600 to pay their hydro bills through the Customer Crisis Fund.
  • Fortis BC introduced a Customer Recovery Fund to help minimize the monthly billing impacts to those natural gas, propane and electric residential and small business customers who need it most. 
  • ICBC: Customers on a monthly payment plan who are facing financial challenges due to COVID-19 may defer their payment for up to 90 days with no penalty.

Other Financial Information

  • Canada's big six banks offer deferred mortgage payments for up to six months on approval. Learn more here.
  • Some financial institutions are deferring payments or decreasing credit card interest rates.

AFC:

Members who are in need of short term, emergency financial assistance may apply to the AFC. The AFC does not provide income replacement but rather offers financial aid for items like rent, utilities etc. visit afchelps.ca to apply for assistance. The AFC has created a COVID-19 Guide to emergency financial aid.

The DGC BC has given an additional $25,000 contribution to the AFC this year in response to the COVID-19 health crises for a total contribution of $60,000 to support Members in need.

Netflix announced a $100 million worldwide support fund for the creative sector that will flow to workers through various existing benevolent funds. AFC will receive $500,000 of the total.

Short-Term Disability Claims Related to Quarantine:

You may be eligible for Short Term Disability for up to 26 weeks if you become sick with COVID-19. For more information please click here.

CEIRP Pension Funds:

The lack of work due to the COVID-19 emergency has some Members looking at the funds in their CEIRP RRSP as a means to provide temporary financial relief. We would like to provide information in order to help Members understand the nature of this fund and why withdrawing funds before retirement is rarely possible and never advisable. Click here for some straight talk about your group RRSP.

The usual rules for pension withdrawals remain in effect.  Producer contributions are locked in. Canada Life has released information regarding the volatility in financial markets. 

Again a reminder that employees who contribute over and above their mandatory amounts can access those voluntary contributions at any time subject to related tax implications.

DGC Dues:

The DGC National Executive Board will waive 3rd Quarter Dues for any Members who do not work at least 10 consecutive days between July 1 and September 30.

Read the full message from DGC National President Tim Southam here.

Posted in COVID-19 Update; Posted 5 years ago