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Some valuable information if you’re a renter right now struggling to pay your rent due to the Covid-19 pandemic.

If you are renting in Canada currently, you may be facing some uncertainties about your future amid the COVID-19 pandemic – especially with the start of a new month on the horizon. Provincial governments are currently rolling out plans to help renters during this time:

British Columbia: The B.C. government has imposed a moratorium on residential evictions. In addition, they will be providing renters with up to $500 per month for the next four months to help you manage your rent payments. Premier John Horgan also announced a provincial freeze on rental increases during this time.

Alberta: Alberta currently is considering a short term stay on eviction enforcement but no plan has been made as of yet.

Manitoba: Manitoba Premier Brian Pallister has postponed all hearings for non-urgent matters to avoid evictions resulting from non-payment of rent. In addition, any rent increases scheduled to take effect on April 1 or later are being suspended.

Saskatchewan: No COVID-19 rental policies currently in place.

Ontario: Ontario has suspended eviction orders resulting from non-payment of rent until further notice. Further, plans are in development.

Quebec: Has suspended most eviction hearings amid COVID-19.

Nova Scotia: Has banned evictions resulting from non-payment of rent.

Prince Edward Island: Has banned evictions resulting from non-payment of rent.

Northwest Territories: Has banned evictions resulting from non-payment of rent.

Please Note: If you are currently struggling to make your rent payments due to job or income loss caused by COVID-19, there may be additional options available to you.
ADDITIONAL FINANCIAL MEASURES

In addition to helping homeowners manage their finances through deferred mortgage payments and adjustments, the Canadian Government has also come to the aid of families who may be struggling currently.

To help those currently struggling, the following measures are being taken or have already been implemented:

  • Income Tax Payments: The Canada Revenue Agency will allow all taxpayers to defer payments for any income tax amounts that are owing between March 18, 2020 and September 2020 until August 31, 2020. No interest or penalties will accumulate on these amounts during this period.
    • Taxpayers who are required to remit quarterly installments may benefit from up to 5 months of tax deferral.
  • Income Tax Filing: Income tax return filing has been extended one month from April 30, 2020 until June 1, 2020.
    • If you receive and rely on the GST credit or the Canada Child Benefit, it is still ideal to file sooner to ensure that the entitlements for the 2020-2021 benefit year are not delayed.
    • For trusts with a December 31, 2019 year-end, the tax return filing due date has been extended to May 1, 2020 (from March 30, 2020)
  • Registered Retirement Income Funds (RRIFs): The required minimum withdrawals from RRIFs will be reduced by 25% for the 2020 tax year.

In addition, the Canada Revenue Agency is adapting their Outreach Program in order to better support individuals during COVID-19. This service allows the CRA to offer assistance to ensure individuals understand their tax obligations and to help them obtain the benefits and credits to which they are entitled.