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CREA Message re: COVID-19
April 3, 2020
COVID-19: The Canada Emergency Response Benefit and the Canada Emergency Wage Subsidy
CLICK TO READ MORE Over the past week, the federal government has shared additional details about programs that provide financial help to individuals and businesses because of the COVID-19 pandemic. In anticipation of the issues REALTORS® would be facing, CREA began speaking to government departments and agencies early on about the protections needed to provide relief for our members. As programs have been unveiled, we have shared those details with our members, as well as with real estate boards and associations across the country. In response to our calls for significant action, the federal government has responded with the Canada Emergency Response Benefit (CERB) and the Canada Emergency Wage Subsidy (CEWS):If you intend to apply for the CERB, you can get started this weekend by familiarizing yourself with the application process and registering for your Canada Revenue Agency (CRA) My Account ahead of applications opening on Monday, April 6, 2020. To proceed with applications in an orderly fashion, please ensure you apply during the appropriate window, as designated by the CRA: The government has moved quickly to roll out these significant support measures. Their goal is to include as many Canadians as possible and make the application process relatively frictionless. “If you are able to say ‘Yes, I’m not working. Yes, I had an income and I’m someone who is not working because of this (coronavirus) outbreak, directly or indirectly,’ you’re going to qualify for this new benefit,” said Sean Fraser, Parliamentary Secretary to the Minister of Finance. “We’re not going to be requiring evidence or notes from employers or doctors that are only going to overburden an already overburdened system.” While it appears that initially applying for the CERB won’t be needlessly complicated, REALTORS® should expect to be asked for supporting documentation later in the in process. You will also be able to apply by calling the automated toll-free line at 1-800-959-2019. Eligible employers are expected to be able to apply for the CEWS through the CRA’s My Business Account portal, as well as a web-based application, in three to six weeks. As the situation has evolved, REALTORS® have raised concerns about where they fit into these announcements, and our Member Support and Government Relations teams have made it a priority to answer your calls and emails over the past weeks. We appreciate your feedback and continue to relay your concerns to government officials in our conversations. We continue to push for broad eligibility that would capture self-employed workers, independent contractors, small businesses, and those living on a commission-based income. If you apply for the CERB and discover you’re not eligible, please contact the Government Relations team immediately so we can make the government aware of any barriers REALTORS® are facing. In addition to providing support for Canadians through the CERB and the CEWS, the government has taken steps to stabilize the real estate sector through several other measures: The government is constantly assessing the evolving situation and is likely to introduce additional measures as it deems necessary. We are monitoring the implementation of existing measures and continue to advocate on behalf of REALTORS® as new initiatives are developed. Please monitor your inbox for more important information from CREA. For up-to-date information from CREA, visit our COVID-19 page here.
If you were born in the month of
Apply for the CERB on
Your best day to apply
January, February or March
Mondays
April 6
April, May, or June
Tuesdays
April 7
July, August, or September
Wednesdays
April 8
October, November, or December
Thursdays
April 9
Any month
Fridays, Saturdays and Sundays
March 30, 2020
COVID-19: More Support Coming for Canadian Businesses
CLICK TO READ MORE To help negate some of the impacts Canadians and our economy will face resulting from the effects of the COVID-19 pandemic, the federal government unveiled additional support through a wage subsidy program for businesses on Friday. Earlier in the day, the Bank of Canada lowered its target for the overnight rate to 0.25% in an unscheduled announcement. These measures come on the heels of the new Canada Emergency Response Benefit (CERB), aimed at providing relief for Canadian workers who have lost their income. Since the emergence of COVID-19, CREA has been in ongoing discussions with government departments and agencies. We have had meaningful conversations about the unique challenges facing REALTORS® and the potentially devastating outcomes of any interruptions to their day-to-day business. While working to secure financial help for REALTORS®, we also focused on the needs of small businesses. We have and continue to analyze the measures announced by the government, as well as programs implemented in other jurisdictions, to find innovative solutions relevant to our industry. We discussed possibilities with stakeholder groups across the country to align and coordinate on proposed government action that would provide meaningful assistance to struggling businesses. The federal government responded to calls for significant action by announcing the following measures: Additional details about these measures can be found on the websites for the Prime Minister of Canada, the Department of Finance Canada, and the Bank of Canada. The new measures announced are expected to complement the CERB, a taxable benefit that will provide $2,000 a month for up to four months for workers who lose their income as a result of the COVID-19 pandemic. It covers Canadians who have lost their job, are sick, quarantined, or taking care of someone who is sick with COVID-19, as well as working parents who must stay home without pay to care for children who are sick or at home because of school and daycare closures. The government has said the CERB will apply to contract workers and self-employed individuals who would not otherwise be eligible for Employment Insurance. The CERB will also be available to workers who are still employed but are not receiving income because of disruptions to their work situation due to COVID-19. The new benefit will be available through an online portal that is set to launch on April 6, with funds expected to flow within 10 days of applying. More information can be found in last week’s News2Me. CREA is monitoring the implementation of these programs and will continue to advocate on behalf of REALTORS®. Please monitor your inbox for more important information from CREA. For up-to-date information from CREA, visit our COVID-19 page here.
March 19, 2020
In ongoing discussions with government officials from various departments and agencies, we continue to emphasize the unique challenges facing REALTORS® as economic measures to support self-employed Canadians and small businesses are considered. The result of these advocacy efforts since the emergence of COVID-19 are captured below:
CLICK TO READ MORE The full list of measures announced by the government today is available here. It is expected the House of Commons will be recalled next week to pass the emergency economic measures. If you have any questions, CREA’s Government Relations team remains available to members and board and association staff.
While all the details of the various programs announced today are not yet available, the Governor of the Bank of Canada concluded today’s press conference with the assurance that “if people need the support, they will get it.” We will continue to monitor the evolution of these programs and continue to advocate on behalf of REALTORS®.
Canada’s six largest banks also announced financial relief for Canadians impacted by the economic consequences of COVID-19, including up to a six-month payment deferral for mortgages and the opportunity for relief on other credit products.
March 18, 2020
Good Morning,
We have reached out to CREA in regards to the announcement from Prime Minister Trudeau that funds will be made available to Canadians who are not eligible for EI. CLICK TO READ MORE CREA is working to find out more on this program and the impact on the Realtor® community, we will send out more information as we learn more from CREA. Regards, Larry Westergard – Executive Officer