Canada Emergency Response Benefit (CERB)

Here are some additional details on the Canada Emergency Response Benefit (CERB).
If you have lost income because of COVID-19, the CERB will provide you with temporary income support. The CERB will provide you with $500 a week for up to 16 weeks.

Eligibility:
 
To be eligible to receive the CERB from Service Canada, the following must apply:

• You must be at least 15 years old;
• You have stopped or will stop working for reasons related to COVID-19, or because you are unable to work due to illness, or because you lost your employment for other reasons beyond your control; 
• You expect to be without income for at least 14 consecutive days;
• You have not quit your job voluntarily;
• You have earned a minimum of $5,000 in income within the last 12 months or in the 2019 calendar year from one or more of the following sources:
  • Employment income
  • Self-employment income
  • Maternity and parental benefits
• Note that there have been no discussions as to how dividend income will factor into eligibility.

You can apply beginning April 6 through the CRA My Account portal:

(https://www.canada.ca/en/revenue-agency/services/e-services/e-services-individuals/account-individuals.html).

As such, it has advised that you register this account and direct deposit in advance of the application process opening. Benefits will start within 10 days of you submitting your application. You will need to apply and confirm eligibility every 4 weeks thereafter.

We are not accountants so if you have any questions, you should contact your accountant to discuss in further detail.