• Rebecca Nguyen

Resources to Find Support and Relief for Canadian Airbnb Hosts during COVID-19 Pandemic


During this global pandemic, many Airbnb hosts are experiencing difficulties through a large loss of bookings and a surge of cancelled reservations. Airbnb Canada has sent a letter to the Government of Canada officials to request additional support for the Airbnb host community.


To further support the host community, we’re sharing a list of resources that can help hosts during this time.


Government Response


Learn more about how the Canadian government is responding to COVID-19.


https://www.canada.ca/en/public-health/services/diseases/2019-novel-coronavirus-infection/canadas-reponse/government-canada-takes-action-covid-19.html


https://www.ontario.ca/page/2019-novel-coronavirus


Employment Insurance


On March 18, the Canadian government announced support for businesses and individuals which includes self-employed individuals who may not have previously qualified for Employment Insurance (EI). More information is available on the Government of Canada’s website.


Mortgage Support


On March 18, the six largest Canadian banks announced plans to provide financial relief through flexible solutions to those affected by the economic consequences of COVID-19.


More information can be found on the Canadian Bankers Association website.


Bank of Montreal

CIBC

National Bank of Canada

RBC Royal Bank

Scotiabank

TD Bank


Temporary Income Support for Parents and Workers


For Canadians without paid sick leave who are quarantined, sick or forced to stay home to care for children, the government is:


  • Waiving the one-week waiting period for those in imposed quarantine that claim Employment Insurance (EI) sickness benefits. This is in effect as of March 15, 2020.

  • Waiving the requirement to provide a medical certificate to access EI sickness benefits.

  • Introducing the Emergency Care Benefit providing up to $900 bi-weekly, for up to 15 weeks.


The Emergency Care Benefit is administered through the Canada Revenue Agency (CRA) and provides income support to:


  • Workers, including self-employed, who are quarantined or sick with COVID-19 but do not qualify for EI sickness benefits.

  • Workers, including self-employed, who are taking care of family members with COVID-19, such as an elderly parent, but do not qualify for EI sickness benefits.

  • Parents with children who require care because of school closures and are unable to earn income, regardless of whether they qualify for EI or not.


For Canadians who lose their jobs or face reduced hours due to COVID-19’s impact, the government is:

  • Introducing an Emergency Support Benefit delivered through the CRA to provide up to $5.0 billion in support to workers who are not eligible for EI and who are facing unemployment.


Flexibility for Taxpayers


The Canada Revenue Agency (CRA) will be postponing the due date for the 2019 tax returns of individuals, including certain trusts.


For individuals, the return filing due date will be postponed until June 1, 2020.


However, the CRA encourages individuals who expect to receive benefits under the Goods and Services Tax credit (GSTC) or Canada child benefit (CCB) to not delay their filing to ensure their entitlements for the 2020-2021 benefit year are properly determined.

For trusts with a tax year ending on December 31, 2019, the return filing due date will be postponed until May 1, 2020.


The CRA will allow all taxpayers to defer, until after August 31, 2020, the payment of any income tax amounts that become owing on or after today and before September 2020. This relief applies to tax balances due, as well as installments, under Part I of the Income Tax Act. No interest or penalties will accumulate on these amounts during this period.


Canada Student Loans Repayment Paused


To support student loan borrowers during the COVID-19 pandemic, the Government of Canada has announced its plan to pause the repayment of Canada Student Loans until September 30th, 2020, with no accrual of interest. This will become effective March 30th, 2020 pending parliamentary approval.

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