COVID-19 Update for May 12, 2020 – 11:50amMay 12, 2020
Today, Prime Minister Justin Trudeau announced a series of targeted funding measures to support Canadian seniors – a demographic that continues to be the hardest hit by COVID-19.
One-Time Tax-Free Top-Up Payment
The Prime Minister announced that his government is investing $2.5 billion in a one-time, tax-free, top-up payment for eligible seniors to help them overcome the costs of COVID-19. Under this new measure, any senior who is eligible for the Old Age Security (OAS) pension will receive a one-time tax-free payment of $300, and those who receive the Guaranteed Income Supplement (GIS) will receive an additional $200. This measure makes a total of $500 available to eligible seniors to cover increased economic and health costs caused by COVID-19.
Trudeau also noted that his government is temporarily extending GIS and OAS payments for seniors who have been unable to file their taxes on time in order to avoid interruption in benefits. All seniors are encouraged to submit their 2019 income information no later than by October 1, 2020.
Expanding Seniors’ Programs
The government is also making additional investment of $20 million to support organizations that offer community-based projects that reduce isolation, improve the quality of life of seniors and help them maintain a social support network.
The federal initiative is expected to support more than 6.7 million seniors facing economic and health challenges across the country. “We need to be there for those who have built the county for the rest of us,” emphasized Trudeau. “And that is what we will continue to do. We will support them and work to keep them safe.”
We hope you are finding these COVID-19 updates useful. In addition to trying to keep on top of the fast-changing situation, Enterprise is also working to support local charities during these challenging times. If you are able, your contributions to this effort would be deeply appreciated.
To donate, please click on the organization below:
- Toronto – Food Banks Canada
- Thunder Bay – Food Banks North West
- Hamilton/Niagara – Hamilton Food Share
- Alberta – Hope Mission
Stay safe. Stay healthy.
The Enterprise Team