Here at H&T Accounting Services, we understand the changing times in today’s world and how important it is to stay financially stable with personal and business finances. This is why we would like to inform our customers about the Canadian Recovery Benefit available.
What is the CRB?
The Government of Canada is aiding many Canadians with a benefit known as CRB or the Canadian Recovery Benefit. This benefit is designed to provide income support to employed and self-employed individuals who are or have been affected with COVID-19 and do not qualify for Employment Insurance Benefits (EI).
Eligibility
To eligible for this benefit, the following criteria must be met,
Benefit Amount
In receiving this benefit, a bi-weekly gross payment amount of $1,000, before taxes, is provided to those who are eligible. With a 10% withholding applied, the total 2-week payment is 900$.
The Application Period
An application must be submitted for every 2-week payment required. The process is not an automatic system which means you must apply every 2 weeks to receive payment regularly. A maximum of 13 periods out of the total 26 periods are available between September 27, 2020 and September 25, 2021 in which the 13 weeks do not need to be collected consecutively. You can apply on the first Monday after the period has ended.
Receiving your Payment
Your benefit can be collected through direct deposit or via mail. Direct deposits can take 3-5 business days whereas mail can arrive between 10-12 business days.
We encourage all our customers that qualify for this benefit to apply. Understanding these hard times for everyone, every little bit of help goes a long way for those that are in need of it. H&T Accounting Services are here for all inquiries and questions you may have regarding available benefits. We are here to assist with all your accounting and financial needs.
We wish everyone the best of health. Stay safe and healthy!
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