The coronavirus situation has escalated during recent times and the Canadian government has announced a $82 billion COVID-19 aid package to help Canadians tackle this pandemic. This infographic gives you further details of the same.
What is the $82 billion COVID-19 aid package?
In order to help the Canadians and the business tackle the global COVID-19 pandemic, Prime minister Justin Trudeau announced a massive $82 billion aid package. This package has provisions for direct support worth $27 billion and tax deferrals worth $55 billion.
While announcing the aid package as a part of the emergency measures that needed to be taken, the Prime Minister also mentioned that his only job was to make sure that the Canadians had food in their fridge, a roof over their heads and that they could afford the essential medicines.
Direct Support and Tax Deferrals
In terms of the direct support, households with low-to-moderate income will get a Goods and Services Tax (GST) credit boost of $400 for individuals and $600 for couples. The Canada Child Benefit will also be boosted by $300 per child from May. Not to mention, there are several other benefits as explained in the infographic below.
The Tax deferrals have been announced as a part of the package as well. The deadline for filing the tax returns has been extended to June 1 and if you’re one of those who have already filed your taxes and owe some money to the government, you can pay off the remaining balance by August 31.
The COVID-19 aid package is beneficial to the Canadians
The COVID-19 package has something for everybody. Be it the students whose loan repayments will be paused for six months or be it people who are struggling to pay the rent because of losing out on daily income.
The Candian government has been proactive and has formulated this $82 billion package which constitutes 3 percent of the GDP. It is an extraordinary step taken by the government in such extraordinary conditions.
What's in this infographic?
This infographic consists of all the details of the COVID-19 aid package and will give you insights on how it will benefit you and where you can check your eligibility for the same. What is the package? what does it have? whom does it benefit? where to apply? Go, check the infographic now.