Federal Government Announcements Regarding the Impact of Covid-19

Federal Government Announcements Regarding the Impact of Covid-19:

These recent initiatives are summarized for you since they may have a direct impact on you or a family member.

1. Temporary boost in the Child Tax Benefit
2. $900 biweekly for those who don’t have paid sick leave
3. $5 Billion in support for low income and those facing unemployment
4. Waiving the one week waiting period for EI sickness benefits for six months and waiving the requirement for a doctor note
5. Extending the tax filing date to June 1 and allowing taxpayers to defer payments until after August 31 - This is huge! This applies to balances due, as well as installments under Part 1 of the income tax act. No interest or penalties will accumulate during this period. HOWEVER – if you are getting a refund file now – it's your money.
6. Providing eligible small businesses, a 10 per cent wage subsidy for the next 90 days, up to a maximum of $1,375 per employee and $25,000 per employer
7. Allowing all businesses to defer until after August 31, payment of income taxes, interest-free
8. Making additional funds and credit available to businesses of all sizes, including farmers
9. Purchasing up to $50 billion insured mortgage pools to stabilize funding to banks and lenders
10. Six-month interest free moratorium on student loan payments
11. Reducing required minimum withdrawals on RRIF’s by 25% for 2020 – particularly beneficial during the recent market volatility.
12.  The government it is asking banks to work with their customers on debt management plans and repayment flexibility. Banks have confirmed that they will support up to 6-month deferral in mortgage payments, but this will be dealt with on a case by case basis.  
    
    While these measures were introduced yesterday, I would recommend that you go to: https://www.canada.ca/en/department-finance/news/2020/03/canadas-covid-19-economic-response-plan-support-for-canadians-and-businesses.html for further information. More announcements are expected in the near future.
    
    This today, also read more news about how to apply for Employment Insurance and Emergency Benefits:
    
    https://www.msn.com/en-ca/news/canada/how-to-apply-for-ei-and-covid-19-emergency-benefits/ar-BB11pxIj?ocid=msedgdhp

Disclaimer: The opinions expressed in the text above belong solely to the author, and do not necessarily reflect the official policy or position of any other agency, organization, employer or company. We have taken all steps necessary to ascertain that this information is correct and  it is provided on an "as is" basis with no guarantee of completeness, accuracy, usefulness or timeliness. Readers are informed that any action taken upon the information is strictly at your own risk.

What I am Doing – During the Covid-19 Pandemic

What I am Doing – During the Covid-19 Pandemic

Chris at Work 2020

Buying a Home? – I'm Chris - Your New Virtual Realtor

If you have Corona Virus worries but still want to buy a home, I can save you the travel by offering you a virtual tour using video calling like facebook messenger or skype. I have years of experience showing houses, drawing up offers and basically handling transactions from start to finish doing it all remotely. From the comfort of your favourite safe spot, I will tour the home with you, pointing out the distinctive features and answering any questions you have. I am here to help you take advantage of the lack of buyer activity and negotiate hard on a new property.

New Social Distancing Rules

Once you have narrowed it down to a short list, I can also meet with you at the homes you are interested in, using the latest and safest 'Social Distancing Requirements.' For example, showing you a home will be restricted to a private in-person tour with two people at a time. We use an alcohol-based hand sanitizer before entering a home. During the tour I will maintain a distance of six feet from you and won’t shake hands or enter small bathrooms or crawl spaces.

Selling a Home? Virtual Tours More Important than Ever

For many years I have used my exceptionally reliable photographers who are experts at creating a virtual tour of homes for sale. While on site they follow Alberta Health recommended procedures. With video and audio clips I will help people experience the particular features your home has to offer, ensuring the best chance of a sale.

NEWS - Government Announces $82 Billion Dollars in Aid - Alberta will Benefit

On Wednesday, the government announced money to offset the downturn in the Canadian economy and the job-loss crisis. This is good news for Alberta. There is special attention to airlines and the energy sector that will boost a welcome relief to our province.

Banks Have Loosened the Purse Strings

Interest rates are at their lowest in years. Investors are taking encouragement from the recent rate cuts implemented to combat the economic crisis. Selling or buying a home is now easier than ever. The governments have stepped in, to not only slow the market volatility but also assisting people with their daily and monthly bills. The financial situation changes daily. If the bank refused you a mortgage before, you may even be encouraged to try again.

Poised for a Boom – Big Time – The New Roaring Twenties

History has a story to tell. The housing market in Canada did not experience a noticeable adverse impact from SARS as evidence suggest from a report in the Financial Post back in 2003. If any, the effect of Corona Virus is likely to be moderate in the short run. Many economists believe that if the challenge persists for a more extended period, the Canadian housing market may become more attractive to investors. They may likely move their capital from markets with more threatening health risks to the relatively safe environs in Canada. This could be the new age of The Roaring Twenties!

Why not give me a call? 403-680-4479