In the early morning hours of March 25, 2020, Bill C-13 “An Act respecting certain measures in response to COVID-19” was introduced, and received Royal Assent by the afternoon.
Important details, clarifications, and a few key changes to Canada’s COVID-19 Economic Response Plan were included. If you had sent out our Brandable Economic Response Plan Update from last week, or have sent your own client communications, you may want to consider sending a follow-up message, or specifically directing them to this link.
One common theme throughout the legislation is the ability to change specific amounts and rules by updating regulations rather than law, which means the government has more flexibility in making changes as events unfold. The key items discussed in this document include:
Emergency Response Benefit;
GST tax credit special payment;
Canada child benefit special payment;
RRIF minimum withdrawal changes; and
Temporary wage subsidy for employers.