The Covid-19 epidemic was probably the high point of 2020, the year that launched in the new decade. This disease outbreak’s negative impact on the world affected lives in several ways.
Since the pandemic, we’ve dealt with numerous life changes, especially in our finances. Due to these upheavals, the Canadian government created three reward schemes to ease the financial pressure on its citizens.
These financial recovery programs are responsible for providing financial support to eligible Canadian citizens, and they include; the Canada Recovery Sickness Benefit (CRSB), the Canada Recovery Caregiver Benefit (CRCB), and the Canada Recovery Benefit (CRB) as a whole.
Seasons Retirement retirement home in Canada prioritizes the financial security and education of its residents. This post is a case in point, as it was curated by Seasons to help one check their eligibility for the CRCB. Continue reading to learn about the characteristics and qualifying requirements for each of the aforementioned financial rewards.
Canada Recovery Caregiving Benefit (CRCB)
The Canada Recovery Caregiver Benefit is a relief program created by the Canadian government to provide financial assistance to those employed and self-employed unable to hold jobs due to needing to look after their children (12 years or below) or a relative who needs supervision.
The government scheme was formulated to assist Canadians who cannot work for at least half of their weekly working hours due to acting as caregivers to their children or other relatives affected by Covid-19 directly or indirectly.
For each workweek missed, a successful CRCB candidate is qualified to receive $500. However, a 10% tax will be deducted from this amount at the source, leaving the candidate with $450.
If a CRCB candidate continually skips work past the one-week period for which they received CRCB, they can reapply for the caregiver benefit plan for a maximum of 26 weeks.
Eligibility Criteria for the Canada Recovery Caregiver Benefit
To be qualified before you first apply to the CRCB, you must currently be self-employed or employed normally. The following are other eligibility requirements that you must meet before applying for the benefit.
- You must have missed a minimum of fifty percent of your weekly work hours to care for a family member or a relative in need of supervised care. However, the family member must be at home for any of the following reasons only:
○ Their school or regular care program is shut due to Covid-19-related reasons.
○ Their caregiver is unavailable due to sickness through Covid-19.
○ The family member has contracted Covid-19, is highly susceptible to the viral infection or is self-isolating due to the disease.
- You must reside and work in Canada.
- You must have a Social Insurance Number (SIN) that’s currently valid to verify the legality of your residence in Canada.
- You must be 15 years old and above.
- You are not eligible for the CRCB if for that workweek you received other financial benefits. These benefits include:
○ Canada Recovery Benefit (CRB).
○ Canada Recovery Sickness Benefit (CRSB).
○ Short-term disability benefit.
○ Employment insurance.
○ Worker’s compensation benefits.
- Only one individual from a household can apply to receive the CRCB for a workweek.
- You must have earned a minimum of $5000 in the 12 months preceding the CRCB.
- You must not be on paid leave during the same period.
Canada Recovery Sickness Benefit (CRSB)
The Canada Recovery Sickness Benefit, as the name implies, is a form of financial support given to employed or self-employed Canadians that cannot work due to an illness, primarily Covid-19.
People who are highly susceptible to Covid-19 infection and those with underlying health conditions that can exacerbate the symptoms of Covid-19 are also eligible for this benefit.
Although the CRSB is worth $500 per workweek, successful applicants will only receive $450 after a 10% tax deduction.
If the health situation remains unchanged after the first successful application, one is eligible for subsequent applications anywhere up to 6 weeks.
Eligibility Criteria for the Canada Recovery Sickness Benefit
These are the requirements for Canada Recovery Sickness Benefit:
- You can’t keep up employment duties for more than half of your usual weekly work hours for the following reasons:
○ You are ill with Covid-19.
○ You’re under self-isolation as advised by a medical professional due to Covid-19.
○ You have an underlying health condition that could aggravate the effects of Covid-19 infection.
- You did not receive other financial benefits for the one-week period. These benefits include:
○ Canada Recovery Benefit (CRB).
○ Canada Recovery Caregiving Benefit (CRCB).
○ Canada Worker Lockdown Benefit (CWLB).
○ Employment Insurance (EI) benefits.
○ Quebec Parental Insurance Plan (QPIP) benefits.
○ Short-term disability benefits.
- You must live in Canada.
- You must have been in Canada during the one-week period.
- You must be 15 years old and above.
- You must have a valid Social Insurance Number (SIN)
- Your income in the last 12 months before the start of your application must sum up to $5000, at the very least.
- You must not be on paid leave during the one-week period.
Canada Recovery Benefit (CRB)
The Canada Recovery Benefit program is designed to render financial assistance to employed and self-employed persons directly affected by Covid-19.
The Canadian government specifically created the scheme for individuals who became unemployed or suffered wage reduction due to Covid-19-related reasons but could not benefit from Employment Insurance (EI).
A CRB candidate will receive $1000 for a 2-week period, during which they must have been unemployed or suffered income reduction. However, a 10% tax will be deducted from this amount, leaving the eventual payout at $900.
If the candidate’s situation lingers past the initial two-week period, they are eligible to reapply for the Canada Recovery Benefit for a maximum of 26 weeks.
Eligibility Criteria for the Canada Recovery Benefit
The following are conditions that must be met before applying for this program:
- During the two-week period you register for the scheme, you must have been unemployed because of reasons related to Covid-19, or your average weekly income was reduced by 50% because of Covid-19.
- You didn’t receive other financial benefits for that period. These benefits include:
○ Canada Recovery Sickness Benefit (CRSB).
○ Canada Recovery Caregiving Benefit (CRCB).
○ Employment Insurance (EI) assistance.
○ Quebec Parental Insurance Plan (QPIP) benefits.
○ Short-term disability benefits.
- You are not eligible for EI benefits.
- You are a resident of Canada.
- You were available in Canada during the two-week period.
- You are fifteen years old and above.
- You have a valid SIN (Social Insurance Number)
- You received a minimum income of $5000 in the twelve months preceding the application date.
- You did not resign from work or reduce your working hours unless you were forced to do so.
- You were searching for a job (employee) or looking to set up a business (self-employment) during the period.
- You did not decline a reasonable job offer during the 2-week period.
Final thoughts
When applying for financial benefits, you should make sure to choose the most lucrative government scheme for yourself and your loved one.
This post will teach you about three of the most lucrative recovery benefits designed for Canadian people to help you make your pick.
