Mostly each student has a part-time or full-time job. During the pandemic COVID-19 situation, manystudents were laid off temporarily. But, the Canadian government tries to help each and everyone who needs it the most. So, most working students are considered low-income individuals, which makes you eligible for different benefits from the Canadian Government and the B.C. Government. First of all, there is a one-time GST credit payment in April of $290, which happens to be automatically put into your bank account. Furthermore, the applications for CERB continue to be happening until October 3, 2020. This benefit provides you with a $2000 payment for a four-week period. You need to re-apply for every other period through the Canada Revenue Agency website or by phone.
Please, note that it is a taxable benefit, meaning that you will need to put it as an income while filing your 2020 tax return next year. There is one more Canadian Benefit coming out in May called CESB. It will provide the support of $1250 monthly for students, who are not eligible for CERB or EI benefits, and $1750 for those with disabilities or dependants. For those, who want to help during these hard times and gain valuable experience, there is another upcoming benefit called CSSG. If you choose to do volunteer services, CSSG will provide a student with the amount up to $5000 towards Fall tuition. And last but not the least, international students working in essential services are now eligible to work more than 20 hours, which will be in effect till August 31, 2020.
All further information about eligibility and new benefits can be found on the Canada.ca website. Stay safe!
Article Written by:
TRUSU Taxation Club