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Retirement Homes: When, Where & How Much

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Beginning the conversation with a loved one about transitioning to a retirement home can be emotional, intimidating and overwhelming. This MONEYTALK Blog breaks down tips on how to have the conversation, retirement home options, and factors to keep in mind when making your decision to make the process as easy for you and your loved ones as possible.

Ready Or Not?

Over the past couple of years, my mom has been dealing with some health issues. She just celebrated her 84th birthday and is still living in her own home. For the most part, she is capable of taking care of herself but my siblings and I are starting to wonder if her living situation is safe and healthy. We’ve been gathering information on retirement homes and have learned a lot along the way. Here are some helpful tips and things to consider so you or your loved one are best equipped for a seamless transition to an assisted living facility.

Time to Talk

There are so many options available for retirement living. Seniors are no longer resigning themselves to the retirement homes of old. They are choosing a lifestyle, a new freedom to focus on, and a place that brings them happiness with reduced chores and responsibilities. They are living their best retirement taking advantage of safe, social and active living opportunities. Sounds like a dream, right? But not everyone, including my mom, is ready for such a big change. Now what do we do?

First and foremost, we had to accept that this is her life decision, not ours. She needs to be ready to make the move when the time is right for her. Although we have good intentions and want only what’s best, we also have to adhere to her wishes. My advice to you, if you are nearing the same situations with your parent(s) – plan ahead. Start planting the seed for them to think about what their plans are for the future so that they don’t feel defensive or offended when they are older. Be proactive while they are in good health to start exploring their options without the sudden urgency to decide for them.

Retirement Living Options

Here are some info and tips on the different options available based on needs and affordability we learnt:

Independent Living

Mom, like many seniors, is determined to live in her home as long as she can. Many communities have home care services and emergency life-line communications systems available to assist those wanting to maintain their independence. You can also make a few changes to their home like lifts, handrails, or step in tubs so that your loved ones are able to continue living safely and comfortably. To assess if this was still a possibility for my mom, we considered:

  • Could she manage her day to day care (ie: cooking, cleaning, shopping)?
  • Was additional care available in her community if needed? Home care costs vary depending on the type and level of care.
  • Does she have friends and a social life? My mom is a social butterfly so we knew this is really important for her mental health.
  • What is the actual cost of staying in her home?

Together we made a detailed list of all of the expenses incurred on a monthly and yearly basis. The mortgage may be paid for, but there are other costs including:

  • Vehicle: gas, maintenance, insurance, license plates
  • Medical: prescriptions, lifeline medical alert, ambulance
  • Home: upkeep, appliance replacement, insurance, taxes, yard care
  • Groceries/personal items or meals on wheels
  • Utilities: phone, cellular service, power, gas, cable, internet,
  • Entertainment/Gifts
  • Home care
  • House keeping
  • Miscellaneous expenses

Retirement Residence

Retirement residences are not just a home, but a community. They are privately run but provincially regulated. This presented an option where she could kick back and enjoy a worry-free lifestyle in her own self-contained suite and where her daily needs (meals, housekeeping, laundry) would be met. A place where she was free to socialize and take advantage of all the active living opportunities and amenities available. How to choose which is the best facility really comes down to personal choice. It’s good to have choices but too many can be overwhelming. So, we started to do our homework:

  • First, we needed to determine what general area or community she wants to live in – close to her current home or closer to her kids and grandkids.
  • We asked friends whose parents are in homes for their advice and feedback.
  • We started searching online. Most residences have a website you can poke around to see what they offer. Does it look clean and well kept? Does it meet her needs and have some nice to haves?
  • We created a list of questions
    • What are the size options and any extra costs in the personal unit (ie: internet, cable and telephone service)?
    • Is there transportation available for personal appointments?
    • What amenities are included (ie: housekeeping, laundry)?
    • Are pets welcome?
    • What is a typical weekly menu?
    • What are the recreational activities included?
    • Are there outdoor areas to enjoy?
    • Are guest stays available?
    • And the big question: “What does it cost per month? What are considered “extra care costs”?
  • Next, we started booking tours. Take advantage of staying overnight or for the weekend. It will give you the option to try out the food and talk to the residences and staff in order to get a feel for the place. Ultimately you should be able to envision yourself staying there long-term.

Everything comes with a price and there can be a big difference between facilities. We found monthly costs ranged from $2,500 to upwards of $10,000. In some communities, low income housing options are available. Keep in mind that the cost is like choosing and paying for an all-inclusive vacation. You truly get what you pay for. Remember: it’s your loved one’s choice. Don’t push your preferences on them. Let them weigh the pros and cons of each place.

Other Options Down the Road

When the time comes, we know we may have to consider other living arrangements when Mom needs more hands-on care:

Assisted Living

These can be government or privately run for people with some limitations in physical or cognitive health. They provide 24-hour care with assistance with grooming and personal care, mobility, medications or anything related to your disease care. There is usually a base cost and then additional charges based on care required. It’s important to find out the level of care. Some offer level 1-4 care so you won’t have to move multiple times.

Long Term Care

With these type of facilities, you need to be assessed and referred by your family doctor. The cost of long-term care is actually shared by the government. They pay for everything to do with care and you pay for the space. They do provide basic furnishings including a bed, nightstand and chair. It’s up to you to make it as homey as possible given the limited space. Cost is based on your income.

This is just the tip of the iceberg. For every place we have been in contact with so far, the staff have been wonderful and very helpful. They have dealt with many individuals and families who are struggling to make one of the biggest life changing decisions they have ever made. Their patience and empathy were welcomed and they provided us packages of information and checklists to help in our decision making.

Like with retirement savings, you’re never too young to start planning and educating yourself. I’ve already started asking my spouse where he sees us in the next 10 – 20 years.

The Decision

In closing, remember whose decision this is and that as long as your loved one is happy, safe and cared for, there will be less worry all around. Hey, if things don’t work out, they can always come live with you. I’ll save that blog for another day.

How COVID-19 Affected My Wedding Day

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Uncertainty, frustration, sadness – not the things I was expecting to feel in the months leading up to my wedding and not something that was stopping me from becoming Bridezilla. Unfortunately, COVID-19 took the decision out of my hands and I was forced to let go of the wedding vision I had dreamed of since I was a little girl. Read on to find out how I managed my stress levels, changed plans (sometimes on the fly), managed the fluctuating budget and ended up having an amazing wedding day during COVID-19. 

You know what they say about the best laid plans…

I got engaged at the end August 2019 and to say I was excited to plan the wedding is an understatement. Not only do I love to plan things, but like most women, I’d been thinking about my wedding day for years and had more than one Pinterest board all queued up and ready to go. My new fiancé asked me to marry him and then promptly left for three weeks to work up in northern Saskatchewan – great timing, I know. Fortunately, this gave me the perfect opportunity to plan the whole wedding. I created our wedding website, booked the majority of our vendors, chose a date (I did consult with him on this part), booked a venue, lined up my bridesmaids, started dress shopping and let the people know who were traveling when they needed to be here. We were going to be married in Regina at the Wascana Country Club on June 13, 2020. In the next few months, I ordered my dress, chose the bridesmaid dresses and got all of the invitations sent out. Things were cruising along really well. I was buying everything in advance so that we were ready and so we could sit back and not have much stress in the months leading up to our wedding day. Queue the global crisis…

Who needs pre-marital counseling when you have a pandemic

When we first heard about the coronavirus, I initially thought it wouldn’t affect us or our special day. Then the borders closed, the cases started to rise, and we were both home – 100% of the time. During those few months, we were able to work through and talk about a lot of things. To say the stress levels were high would be an understatement, but we really focused on making decisions together and keeping open lines of communication. Except for the part where I unanimously made the decision to push our wedding reception a year, including all of our vendors, and then told him after the fact.

“Sorry honey”.

Vendors, deposits and budgets, oh my!

I was very fortunate that we didn’t lose any money when we chose to change our wedding plans and we were able to simply shift everything by one year. This meant that all of that planning I had done wasn’t going to go to waste. I did hear about a lot of people that made the decision to cancel their wedding and lost money and I feel for them. It’s always a great idea to create a wedding budget and stick to it because weddings are expensive and it’s easy to go into serious debt in the planning and spending, especially when you go to wedding expos and see what others are doing. But one thing you can’t budget or plan for is when you end up losing your deposits and that can make a stressful time much worse. I’m not going to go into the debate of signed contracts, non-refundable deposits and whether or not a pandemic that is out of your control is grounds for a deposit return, however, I will say that every single one of my vendors was very easy to work with and they, and their businesses, were feeling the financial burdens and uncertainty we all were.

If you are currently in the position of deciding whether to postpone and are afraid to have the conversation with your vendors – I highly recommend just ripping off the band-aid. Although we are all feeling the financial burden of the global pandemic, these businesses survive on positive word-of-mouth and referrals and many will deliver on good customer service in order to win your endorsement. They will understand and the sooner you let them know – the more flexible they can be.

So what did we do?

Well, I am now a Mrs., and our wedding picture is at the top of this blog, so we did get married June 13. We chose to get married at my parents’ lake house with those of our bridal party that could attend and my parents’ best friends (limited numbers made it easy to cut down the guest list). The biggest thing we learned is that missing out on many of the material things did not make the day any less memorable or perfect. Although we had to shift our initial vision of what the day was going to look like. at the end of the day I was able to get married to a wonderful man surrounded by love and even those far away were able to be part of it via live steam – and that, I wouldn’t change for anything. We are going to have a reception next June (fingers crossed) and we will be able to celebrate with everyone at that time.

Tips for getting married during COVID-19 (or any pandemic)

  1. Breathe – you can do this. It may feel like it, but it’s not the end of the world (hopefully). Plans will change and you will have to be agile and flexible, but I believe in you.
  2. Lean on others – there are lots of others going through the same things and you can get lots of tips from them. Talk to your family and your future spouse, they want to be there for you and help you through this.
  3. Take time to pause and process what you’ve lost – at the end of the day, it’s sad when your sister and best friend literally cannot come to your wedding because it means traveling or your grandma can’t attend because it’s too dangerous. It’s important to take a minute to just say “this sucks”, maybe yell or throw things or go find a batting cage or hit some golf balls. Whatever it is, let yourself feel the loss.
  4. Don’t dwell on what can’t be – you will drive yourself crazy focusing on all the things you can’t have and your wedding will be overshadowed by sadness rather than being a celebration of love and happiness.
  5. Decide what you need and what you can do without – whether you are going ahead with a paired down version of your wedding or moving it to next year, decide what things you can’t do without and what you can. The same goes for guests.
  6. Look for ways to include those who can’t be there – for us, it was live streaming the wedding, calling people after the ceremony and FaceTiming my sister from Australia for the entire dinner and speeches. Best part, all of that was free.
  7. Stick to your budget – there is a good chance you may lose some deposits if you decide not to postpone or reschedule and that will have a huge impact on your budget. If you decide, like us, to have a wedding now and a reception in the future, you need to decide if your wedding budget will remain the same or if you are going to create a different one for each event and that may mean more money is going to be spent. Either way, make your budget and stick to it.
  8. Talk to your vendors – regardless if you are postponing or going ahead, keep in contact with your vendors. They are probably wondering, just like you, what’s going on. Be patient with them as well – they didn’t plan for COVID-19 either and are going to be a lot more willing to work with you to find a solution if you don’t go bridezilla on them.
  9. Make it a memorable day – no matter what, it’s still your wedding day and you need to make it about you and your future spouse. Find ways to keep the day about you and not the pandemic and what you’ve lost.
  10. Don’t let people call you a COVID bride – COVID-19 may have forced you to change your plans, but it’s not what should define your wedding. Unless that is your theme, then you do you.

COVID-19 Blew Up My Budget & How I Pivoted

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Adjusting a professional budget or a personal budget due to financial strain is never fun but can save you a lot of worry by putting a plan is in place. This #MONEYTALK blog highlights a personal story where COVID-19 impacted a family’s income and what was learned while she pivoted during a vulnerable time. 

Ouch.

When COVID-19 arrived, it happened fast. Our worlds were turned upside down as the world entered a sudden lockdown which resulted in canceled travel, activities, and events and forced many restaurants, schools and business to shut down.

For the lucky ones, there was an opportunity to work from home and for many others, there were layoffs, reduced hours, and reduced pay. Health concerns surrounding COVID-19 are already stressful enough but concerns about money during an uncertain time amplifies this stress and anxiety to an overwhelming state.

My family was a mix of the two categories. My income was not impacted and I was able to work from home, but with my husband working in the trades – things got a bit uncertain. We were used to his variable income, his hours fluctuating each week and his net pay always being different. Creating a monthly budget was often a bit of a strategy game as we tried to estimate what his monthly net pay would be. Sometimes we’d over budget over and many times we didn’t budget enough but typically it all seemed to work out.

COVID-19 changed a lot for my family. There was no more work travel, he experienced reduced work hours, and my husband saw his pay decrease. Comparing March, April, and June to the few months before, we calculated a 30% decrease in our family income. Though we were lucky to both still be working and were used to having a variable monthly income, a 30% dip was unexpected. In order to support our family that includes two teenage girls, some budget shifting was clearly needed.

Budgets do help, especially in times of uncertainty

We’ve been using a monthly family budget for the last three years that outlines all of the money we anticipate to bring in and how we plan on spending that money. This also includes how much we plan on taking from each paycheck and putting away into a savings account. Throughout the month, we track our spending and compare it to the budget to see where we sit and if we need to watch our spending in certain categories. Spoiler alert: we are almost always over our Restaurants & Take-Out category!

When COVID-19 happened, we went back to our budget and re-adjusted the number to our new reality – decreasing our anticipated income and relooking at our expenses to see where we could reduce. Though there was a bit of stress at the beginning due to the unexpected income decrease, this was quickly gone once I was able to plug in the numbers and see that with a few changes to our budget – it would be okay.

Advice: A lot of our worries around money surround the anxieties of not feeling in control. Creating a budget helps you feel at ease and allows you to buy-in to your gameplan. It may seem like work to track all of your purchases and hold yourself accountable to stay within these budget categories but the peace of mind it brings you is very worth it! If you need help getting started, try our free budget calculator.

Mini Eggs add to the budget and waistline

Did anyone else feel they were no longer doing three meals a day but instead ten? With school being closed and us working from home, the sound of the fridge or pantry opening became more and more frequent. Snacking increased and our meals seemed to be more extravagant for every day of the week. Although delicious, this caused grocery lists, bills, and waistlines to inflate. Food kept us company during quarantine and a family sized bag of mini eggs was a very popular roommate in our household.

After a few (larger than I’d like to admit) grocery bills that brought us close to our monthly budgeted amount, we realized our current amount was not going to work. We increased our budget a bit to accommodate for the increase in fridge and pantry visits and then created a plan. This plan included setting out the menu for the week and making a grocery list of the ingredients needed. We also made sure to look at what we had in our freezer and pantry to use items that we may have forgotten we had or preparing simpler meals like soup and sandwiches. These minor habit changes allowed us to focus our spending and stick within the budget we had set.

Advice: “Leftovers” feels like a derogatory word. But if you cook with extra portions in mind, your monthly budget flourishes. We’d schedule “leftover night” into our weekly menu in order to save some room in our budget while also not having to worry about time preparing the meal.

Do I need this?

With stores closing down, I was no longer able to shop just for the sake of shopping. No more “just because” Winners trips that resulted in a $200 receipt from purchases I didn’t need.

COVID-19 helped me realize the unnecessary shopping I was doing and that I was adding budget line items to accommodate for these impulsive purchases. When looking at how to readjust our budget due to decrease in income, I looked at each budget item and asked myself: is this a NEED or a WANT? This helped me understand some of my impulsive spending habits and decrease areas within my budget that weren’t absolutely necessary.

Advice: Quick purchases may seem small but they add up quick. I challenge you to resist the urge of small, minor purchases (ie: picking up a coffee on the way to work) for a month and keep track of what they would have cost you. The results are eye-opening!

No money required

Before the pandemic, our family was always on the go and if we didn’t have a sport happening, we kept ourselves busy by going shopping or  an activity of some sort that usually had a cost associated with it. With everything being canceled or closed, we had to find new ways to stay busy.

Endless browsing of stores turned into walks around the neighbourhood and all the projects we had pushed to the side started getting done.  COVID-19 taught our family that there are many activities you can do that don’t cost you money. This was another expense we were able to reduce within our budget. We quickly learned that we don’t need to spend money in order to enjoy each other’s company and even when things return to “normal”, I can see us being a lot more frugal with how much we spend on activities.

Advice: Pinterest is a great source of inspiration in order to find free or low-cost activities for your family. Did you know you can combine cornstarch, water and food colouring to make your own sidewalk chalk paint? This is an example of how you can utilize items you will likely have around the house for a fun activity with no extra spending needed.

Be prepared for the unexpected

In the past, our family has experienced layoffs, illnesses, and injuries that prevented us from working and receiving a paycheck. We were never prepared for these unexpected events, which led to a lot of financial stress in figuring out how to pay bills or put food on the table.

We started putting money from each paycheck away into an Emergency Savings Account to be prepared for these unexpected moments. When our income dropped by 30%, there was a sense of relief as we had these emergency savings to lean back on if needed. Even though the adjustments in our spending prevented us from needing to dip into the account, it was nice to know it was there if needed.

Advice: You never know when there may be a pandemic, job loss, injury, or even an event that you weren’t planning on such as your water heater stopping or a car accident. An emergency savings account helps you be prepared for these moments and reduces any stress you may have from trying to find money within your budget to cover these unexpected expenses. Check out the #MONEYTALK blog, The Importance of Having an Emergency Fund, to learn more.

While COVID-19 caused some inconveniences and made our family shift, it also allowed us to re-examine our spending habits. The lessons we learned and the changes we made are ones we will continue doing, even as things, hopefully soon, return to normal.

Breaking Down the Emergency Support for COVID-19: Non-Profits & Charities

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Managing a non-profit or charitable organization is very overwhelming right now. These services are needed more than ever but fundraising is difficult to access with physical distancing and the economic downturn.  Let’s break down the different federal and provincial emergency supports available to help you navigate these unsettling times. 

Updated: April 30, 2020

Non-profit and charity organizations are among those who have been most severely affected by the COVID-19 crisis. Necessary physical and social distancing measures to contain the infection and protect communities has created significant job loss for Canadians. This means these organizations are depended on more than ever to deliver basic human needs to vulnerable populations who depend on them, especially in a public health crisis and economic downturn. Non-profit and charitable organizations have lost major event fundraising streams, putting a strain on budget while the need for their support continues to rise. 

We’ve done our best to compile and simplify the financial support and professional resources for non-profit and charitable organizations. We’ve also included resources for professional fundraisers to help ease their financial burdens and continue helping our vulnerable neighbors and communities. 

Relief for Non-Profit and Charity Organizations 

Temporary Wage Subsidy for Not-for-Profit Organizations, Charities, and Small Businesses

Government of Canada
The federal government’s temporary wage subsidy is providing not-for-profit organizations and charities a 75% wage subsidy for up to twelve weeks, retroactive from March 15, 2020 – June 6, 2020 if their March revenues are down by at least 15% compared to January and February, from COVID-19. For the months of April and May, businesses will need to demonstrate a 30% loss. Employers will also be allowed to measure their revenues either based on as they are earned or as they are received. Charities are being granted the ability to choose whether or not to include government revenues in their calculations of lost revenue when applying. Applicants can use this wage calculator to understand the amount you would be able to claim under the temporary wage subsidy program.

This subsidy will be on the first $58,700 earned, meaning up a maximum of $847 per employee per week, retroactive to March 15, 2020. Employers benefiting from this measure would include corporations eligible for the small business deduction, not-for-profit organizations and charities. This replaces the 10% wage subsidy that was announced early in the COVID-19 Economic Response Plan.

Applications for the temporary wage subsidy are now open.

Canada Summer Jobs Program

Government of Canada

Temporary changes to the Canada Summer Jobs Program will see an increase to the wage subsidy, so that private and public sector employers can also receive up to 100 per cent of the provincial or territorial minimum hourly wage for each employee. This will continue to allow students to find meaningful employment during the summer and develop critical skills to transition into the labour market.

Additional ways the 2020 program has been adjusted to allow flexibility to both applicants and employers include:

  • end date for employment is now February 28, 2021;
  • employers can adapt their projects and job activities to support essential services; and
  • hiring can now include part-time positions.

Youth will be able to search for jobs available in their communities through the Job Bank website and app.

More Time to Pay Income Taxes

Canada Revenue Agency (CRA) has extended the income tax filing and payments for charities to December 31, 2020, for all charities with a Form T3010, Registered Charity Information Return due between March 18, 2020 and December 31, 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. 

Bill-Deferral Program on Provincial Utilities

Saskatchewan Crown Corporations that operate utilities in the province will offer a zero-interest deferral on all utility payments for a period of 6 months. 

SaskTel – waiving data overage charges, offering news and family channels for free 

SaskPower – stopped active collections and won’t be limiting power supply to customers 

SaskEnergy – deferring payments and not limiting natural gas supply 

ISC Suspension Order for Strike Off Provisions

The Information Services Corporation (ISC) has suspended the strike off provisions for non-profit corporations, co-operatives, and new generation co-operative entities. The suspension is meant to assist organizations that are not in a position to file annual returns and financial statements at the Corporate Registry due to delays in annual meetings caused by the restrictions and recommendations on public gatherings. To further lessen the impact of being unable to file in a timely manner, annual return late filing fees for not-for-profit corporations and co-operatives will be suspended. 

Relief for Human Services  

Emergency Shelters

Government of Canada

The federal government is directing $350 million to charity and non-profit organizations who deliver basic human needs, through the Emergency Community Support Fund. The fund will flow through national organizations that have the ability to distribute funds quickly to local organizations that serve vulnerable populations. Some of the services the Fund will support include:

  • increasing volunteer-based home deliveries of groceries and medications;
  • transportation services, like accompanying or driving seniors or persons with disabilities to appointments;
  • expanding capacity for help-lines to manage call volumes and wait times for information and support;
  • training, supplies, and other required supports to volunteers; and
  • replacing in-person, one-on-one contact and social gatherings with virtual contact through phone calls, texts, teleconferences, and the Internet.

Emergency Shelters

Government of Canada
The Reaching Home program will provide $157.5 million to continue supporting those who are homeless. The funds can be used for needs such as purchasing beds and physical barriers to improve social distancing in shelters. It’s also available to secure accommodations during the outbreak to reduce overcrowding in shelters.   

Government of Saskatchewan
The Government of Saskatchewan is providing one-time additional funding of $171,000 targeted to meet the extra cost pressure emergency shelters are experiencing as they continue to serve those in need during the COVID-19 pandemic.  These organizations currently provide more than 300 beds for individuals who need emergency shelter and supports. Organizations receiving the increase are: Lloydminster Men’s Shelter; YWCA Regina – My Aunt’s Place; YWCA Prince Albert; YWCA Saskatoon; Lighthouse Saskatoon; Lighthouse North Battleford; Salvation Army Saskatoon; Salvation Army Regina; Soul’s Harbour Regina and Soul’s Harbour Moose Jaw.   

Modified Emergency Shelter Response

Government of Saskatchewan
When emergency shelters are unable to meet the needs of an individual or family because of capacity pressures, Social Services will support those in need with funds for emergency hotel stays and will work to transition clients to permanent housing. 

If an individual is required by Public Health to self-isolate due to COVID-19 symptoms or exposure, that person will be transitioned to a safe accommodation such as a hotel or an individual housing unit. 

There are approximately 1,700 vacant Saskatchewan Housing Corporation units located in 29 larger communities that will be leveraged to ensure those impacted by COVID-19 are able to access housing or an individualized space to self isolate.  An additional 1,200 units are available in smaller communities across Saskatchewan. 

Support for Children, Youth & Families

Government of Saskatchewan
Transitions to independence for young people will be delayed, so that any youth that “ages out of care” during the COVID-19 pandemic will not be transitioned out of their current housing.   

Child Care Subsidy

Government of Saskatchewan
To help families receiving the Child Care Subsidy (CCS), any families who were receiving part-time benefits because their children were attending school will receive full-time benefits, retroactive to March 1, 2020.  The CCS helps parents with low to moderate incomes with the costs of licensed child care. 

Income Assistance (IA)

Government of Saskatchewan
All Income Assistance clients will continue to receive their benefits even if a client is late reporting, effective March 19, 2020.

Social Services Physical Distancing and Eased Reporting Measures

Government of Saskatchewan
Social Services offices remain open with the first hour of the day reserved for more vulnerable individuals, including those with a disability or health issues such as a compromised immune system. Clients are asked not to visit the offices unless it’s an emergency and you’re unable to call your social worker or you are asked to visit an office. 

Saskatchewan residents who may need income support can apply here or call the Client Service Centre at 1-866-221-5200.  More staff have been shifted to the Call Centre to help serve those in need.

Domestic & Family Violence

Government of Canada
$50 million will be given to women’s shelters and sexual assault centers to help ease capacity and prevent outbreaks among women and children fleeing interpersonal and domestic violence. This funding will also support facilities in Indigenous communities.   

Youth Mental Health Care

Government of Canada
Kids Help Phone is experiencing increased demand for its 24/7 confidential online, telephone, and text counselling services across Canada, as a result of school closures and reduced access to community resources. The Government of Canada is giving $7.5 million in funding to Kids Help Phone to provide young people with the mental health confidential support. 

Caring for Vulnerable Seniors

Government of Canada
Canadian seniors are among the most impacted by COVID-19, and often rely on caregiving support from people who live outside of their homes. The Government of Canada will contribute $9 million through United Way Canada for local organizations to support practical services to Canadian seniors. These services could include the delivery of groceries, medications, or other needed items, or personal outreach to assess individuals’ needs and connect them to community supports. If you are planning to donate to these charities, be careful as there are a lot of scams pretending to be these reputable organizations. Visit this MONEYTALK blog on COVID-19 scams to monitor and how to ensure you are contributing to a valid organization.

Resources for Fundraising Professionals 

LINK: COVID-19 resource guide for fundraising professionals

The Association of Fundraising Professionals has gathered educations and resources to help non-profit and charitable organizations navigate fundraising, donor communications, and what it means to engage with donors during a time in which social distancing and staying home is more important than ever. 

Conexus Member Support for Non-Profit Organizations and Charities

Conexus can help assess your situation and determine the best options to provide some relief including working with you to activate a skip-payment plan, to defer monthly payments, or to create an interest only payment plan to help your business navigate the economic downturn. 

 This relief is available to members, non-profit and charity organizations, small business members, commercial members, and agricultural members in good standing who are feeling a financial impact and are looking for a temporary relief from mortgage, line of credit and loan payments.  Please avoid coming into a branch and call your financial advisor or our Member Contact Centre at 1-800-667-7477.  

Conexus Business Accelerator

In partnership with Meyers Norris Penny, Conexus Credit Union offers free business webinar courses for non-profit and charitable organizations and business owners in Saskatchewan. Protecting Your Business and Employees, Managing Cash Flow and Stress Management are just a few of the courses that are relevant to this time. 

 Do you work or volunteer in the non-profit and charity sector and are looking to view the complete action plans from both governments? Visit the following:

FEDERAL   |   PROVINCIAL

What Emergency Funding is Available for Businesses & Ag Producers

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The COVID-19 pandemic is making a significant impact on the Canadian economy, especially with small and medium sized businesses. The federal and provincial governments have announced different support efforts to relieve businesses and agricultural producers during these anxious times. Let’s help you break down these different measures so that you can brave this storm and best protect your business’ financial well-being.

UPDATED: May 21, 2020

Due to the nature of COVID-19, how it spreads, and how self-isolation is the best way to fight against it, businesses across Canada are facing difficult decisions. Over the last week, many provinces and municipalities have announced measures to stop the spread of the virus that resulted in business closures and massive layoffs. The Government of Canada has also announced multiple initiatives to support businesses to provide economic stability during this time. Agricultural producers are also feeling the weight of the pandemic as they approach the beginning of spring seeding and how to get their goods from a difficult 2019 growing year to market. Most of the information below and how to apply for benefits from the Government of Canada can be found here.

Supports for Businesses

Canada Emergency Wage Subsidy (CEWS)

Canadian businesses, including non-profit organizations and charities, whose March revenue has decreased by at least 15% due to COVID-19 and facing employee layoffs can access a temporary wage subsidy. Business owners can receive 75% of wages per employee to a maximum of $58,700 during the 3-month period, to a maximum of $847/week per employee. These payments will be back dated to March 15, 2020. Businesses will have to apply for the program through the My Business Account portal on the Canada Revenue Agency’s website. They will also need to apply each month. To qualify, they will need to prove that their revenues have fallen at least 15% in March, as compared to January and February’s revenues.For non-profits or charities where revenue verification will be more difficult, may be able to access the subsidy by proving donations have reduced. However, the specific details for these organizations is still being worked out.

The 10% wage subsidy that the government announced earlier this month is still in effect. Small businesses can continue to claim the 10% wage subsidy, to a maximum of $25,000 or $1,375/employee. Businesses do not need to have experienced a decrease in revenue for this and can access this support immediately by adjusting the remittances of income tax that they withhold from employee pay. If a business is already receiving the 10% wage subsidy, they can also receive the CEWS, however the amount they receive will  be adjusted down accordingly so that they receive a maximum of 75% subsidy between both programs.

To create some balance between employers and employees, the Government of Saskatchewan will allow businesses to not have to provide notice or pay in lieu in the event of a public emergency when the layoff is 12 weeks or less during a 16-week period. Additionally, if an employee is laid off for more than 12 weeks in a 16-week period, they will be considered terminated and entitled to access federal employment insurance programs.

Businesses also qualify for payment deferrals on loans, skip-a-payment, and interest only payment plans. You are encouraged to reach out to your financial institution to determine what supports are available to you and what makes the most sense with your financial situation.

Canada Emergency Commercial Rent Assistance

The Government of Canada has announced the Canadian Emergency Commercial Rent Assistance (CECRA) program, in co-operation with Canada’s Provinces to provide much needed commercial rent relief to small businesses during this unprecedented time. This program will lower rent by 75% for small businesses that have been affected by COVID-19, in co-operation with the property owner. The program provides commercial property owners access to forgivable loans if they cover 50% of the rent payments for eligible small business tenants.

The commercial property owner must agree to reduce the tenants rent by 75% for the months of April, May and June under a Rent Forgiveness Agreement. The property owner would not be able to evict the tenant under the agreement, and the tenant would cover the remaining 25% of rent owed. Tenants must be paying less than $50,000 a month in rent, have ceased operations or experienced a 70% decline in revenues due to COVID-19. Non-profit and charitable organizations also qualify for the program.

To apply and find more information, visit the CMHC website.

Saskatchewan Small Business Emergency Payment

The Saskatchewan Small Business Emergency Payment program provides much needed financial assistance to Saskatchewan’s small businesses that had to close or reduce operations due to the public health order during COVID-19.

The payment can be used for any purpose, including covering fixed costs or the costs associating with re-opening after the public health order has lifted restrictions. Payments are based of 15% of the businesses’ monthly revenue in April 2019 or February 2020 to a maximum of $5,000. Seasonal businesses 15% payments are based off the average monthly sales revenue for their 2019 operational months.

To be eligible, a Saskatchewan business or not-for-profit must:

  • Have been carrying on business in Saskatchewan on February 29, 2020;
  • Have been ordered to temporarily close or curtail operations through a COVID-19 public health order;
  • Have less than 500 employees:
    • Seasonal businesses:
      • In the year before the COVID-19 public health order; or
      • When averaged for the 3 years before the year in which the COVID-19 public health order;
    • Attest that they:
      • have experienced a loss in sales revenue from business activities due to a COVID-19 public health order;
      • plan to reopen operations following the cancellation of the COVID-19 public health order; and
      • have not received any payments or amounts from any other sources, including insurance, to replace or compensate for the loss of sales revenue other than amounts from other government assistance programs; and
    • Apply on or before July 31, 2020.

Applications can be completed on the Government of Saskatchewan website.

Business Tax Filing

Like the measures taken for filing personal income taxes, businesses will be able to defer the payment of income tax until September 1, 2020. No interest or penalties will accumulate on these amounts owing. The Canada Revenue Agency will also pause most of its audit interactions for businesses for the next 4 weeks. For businesses requiring assistance understanding your tax obligations, help will be administered over the phone or through webinar.

Businesses and self-employed individuals can defer payments of the Goods and Services (GST)/ Harmonized Sales Tax (HST) until June 30, 2020. Businesses will also be able to defer customs duties owing on imports until June 30, 2020. Details about remittance schedules and how they qualify can be found here.

The Saskatchewan Government is also providing relief for you if you own a business and are unable to submit your Provincial Sales Tax (PST) remittance over the next three-months. You can submit a request for relief from penalty and interest charges here. Like the federal government, they are also pausing audit and compliance programs for businesses.

Credit Services

Canada Emergency Business Account (CEBA)

This emergency loan program will allow businesses to access interest-free loans of up to $40,000 to cover operating costs while revenue is down due to COVID-19. Contact your business advisor or financial institution to learn more about the CEBA and what it means for your business.

What is the CEBA loan?

  • $40,000 interest-free loan to help you cover operating costs you were not able to defer because of COVID-19
  • $10,000 (25%) of the $40,000 loan is eligible for complete forgiveness if $30,000 is repaid on or before December 31, 2022
  • If the loan cannot be repaid by December 31, 2022 it can be converted into a 3-year loan with an interest rate of 5%
  • Once your loan application has been reviewed and submitted the process for funding will take up to 7 days from completion.

How does the CEBA loan work?

  • The loan will be funded as a $40,000 term loan, 0% interest and no payments until December 31,2022
  • No interest will apply until January 1, 2023
  • Beginning January 1, 2023, interest accrues on the balance of the term loan at the rate of 5% per annum, payable monthly on the last day of the month
  • If you pay 75% of the balance of the term loan on or before December 31, 2022, the remaining balance of your term loan will be forgiven. For example, if your balance is $40,000 on January 1, 2021 and you repay $30,000 on or before December 31, 2022, the remaining $10,000 will be forgiven
  • If you do not repay the 75% of the balance of the term loan on or before December 31, 2022, the full loan balance and all accrued and unpaid interest will be due and payable on December 31, 2025.

What’s the eligibility criteria?

The eligibility criteria are as follows, per the Government of Canada’s requirements:

  • You are a Canadian operating company (ie. not a holding company) registered and in operation on or before March 1, 2020
  • Your Annual payroll expense is between $20,000 and $1.5 million, as evidenced on your 2019 T4 Summary of Renumeration Paid (T4SUM). If you cannot locate your T4SUM contact Revenue Canada for reissue
  • A 15-digit Canada Revenue Agency Number also shown on your T4SUM
  • Conexus is your primary financial institution – meaning your everyday business banking account and cash management activities are held with Conexus, and opened on or before March 1, 2020
    • If your everyday business banking account is held elsewhere, please apply for funding through the Financial Institution that holds your primary Business Operating Account
  • Your account must be in Good Standing as an existing member

Expanded eligibility as of May 19, 2020

The criteria for access to the CEBA Loan Program has been expanded to include businesses with sole proprietors, those that rely on contractors or family owned businesses that pay employees through dividends. To be eligible, applicants with payroll less than $20,000 must meet the following criteria:

  • Have a business operating account at a participating financial institution
  • Have a Canada Revenue Agency business number
  • Filed a 2018 or 2019 tax return
  • Have eligible non-deferrable expenses such as rent, property taxes, utilities and insurance that equal between $40,000 and $1.5 million

Business Development Bank of Canada (BDC) Co-Loan

On March 27th, the Federal Government announced the BDC Co-Lending Program to support Canadian businesses of all sizes that have been negatively impacted by COVID-19.  Eligible applicants can access up to $6.25 million CAD (max loans amount dependent on business size) in loans to cover operating expenses such as rent and payroll and working capital needs such as inventory.  The loan will be jointly funded by BDC and your financial institution.

 

Business with less than $1 Million in Annual Revenue

Businesses with $1-50 Million in Annual Revenue

Businesses with over $50 Million in Annual Revenue
Up to $312,500 Up to $3.125 million

Up to $6.25 million

How does the BDC Co-Lending Program work?

  • Eligible business members can apply for financing to support their operational and liquidity needs
  • Term Loan
  • First 12 months to be interest only

What’s the eligibility criteria?

  • Been a member with your financial institution as of March 1, 2020
  • Been a viable business as of March 1, 2020 prior to COVID-19 impact
  • Meet the necessary requirements that will form part of the application process

More information can be found on the BDC website here.

To further ensure Canada’s businesses have access to credit services during this time, the Government of Canada is relaxing its parameters for certain funding:

  • The Canada Account ensures Canadian Exporters have access to loans, guarantees, and insurance policies during this time.
  • The Business Credit Availability Program (BCAP) is allowing the Business Development Bank of Canada (BDC) and Export Development Canada to support small and medium businesses with an additional $10 billion. In addition, BCAP and BDC will work with private sector lenders to ensure credit solutions are offered for individual businesses, specifically businesses that operate in the oil and gas, air transportation, and tourism sectors.
  • Canada’s individual banks will be able to access $300 billion for the economy by lowering the Domestic Stability Buffer of risk-weighted assets by 1.25%. This is in addition to the Bank of Canada reducing its interest rate to 0.75% to support the economy. Further reductions to the interest rate are expected, but not known at this time.

More details on market support measures taken by the Government of Canada can be found here.

Export Development Canada Business Credit Availability Program Guarantee

As part of the federal government’s new $65 billion Business Credit Availability Program (BCAP), Conexus Credit Union and Export Development Canada (EDC) are partnering to provide small-and medium-sized Canadian businesses with financing during the COVID-19 pandemic. Access the credit you need to cover payroll and other operating costs during this global health crisis. The EDC BCAP Guarantee provides businesses with up to $6.25 million in credit to cover operational costs like payroll and rent. Proceeds from the BCAP-supported loan cannot be used to repay or refinance existing debt (further restrictions apply to other non-operational costs). Export sales are not required to qualify for the program.

EDC fees related to this guarantee will be deferred for the first six months, giving some short-term relief to your business. EDC will provide a guarantee to Conexus Credit Union on 80% of the value of your loan. By sharing risk with EDC, we can help your company access the financing it needs. Note that the guarantee is to our institution, not your business, so you remain responsible for the full value of the loan.

For more information on the loan and the eligibility criteria, contact your business advisor.

Information can also be found on the EDC website.

Regional Relief and Recovery Fund

The Government of Canada has announced additional funding for small and medium businesses who need additional relief due to the COVID-19 pandemic. The Regional Relief and Recovery Fund (RRRF) provides $962 million in relief funding delivered through regional development agencies. Specifically, $304 million is allocated to Western Economic Diversification Canada to assist Western Canadian businesses specifically in the tourism sector.

The objective of the RRRF is to assist Western Canadian businesses that do not qualify for other programs such as the Canadian Emergency Business Account (CEBA) or the Community Futures Emergency Loan Program. The RRRF will support businesses in two ways:

  • Provides up to $40,000 in repayable contributions to businesses that are not eligible to access other federal support programs. Businesses that receive funds from the RRRF and repay 75% of the contribution (up to $30,000) on or before December 31, 2022 will result in forgiveness of 25% of the contribution (up to $10,000).
  • Provide up to $1,000,000 in repayable contributions to businesses that can demonstrate a meaningful contribution to the Western Canadian economy and are experiencing liquidity issues. These companies may not have accessed other Government of Canada relief programs, or may have accessed them, but require additional funding to mitigate cash flow pressures. This contribution is fully repayable.

Further details, including eligibility criteria for each stream, and how to apply, can be found here.

Examples of business that are eligible to apply to the RRRF:

  • Pre-revenue firms (e.g. a company that has not had any sales to date)
  • Businesses that do not have salaried employees (e.g. a company with a workforce of contract employees)
  • Businesses with no payroll that do pay their owners a salary (e.g. a company that pays its owners through dividends)

Examples of businesses that are not eligible to apply to the RRRF:

Applications are being accepted through Western Economic Development Canada and can be found here.

Large Employer Emergency Financing Facility

The Large Employer Emergency Financing Facility (LEEFF) is a program to support large employers through COVID-19. The program provides short-term liquidity assistance in the form of interest-bearing term loans through the Canada Enterprise Emergency Funding Corporation, a subsidiary of the Canada Development Investment Corporation. The assistance is available to large Canadian employers who meet the following criteria:

  • Make a significant impact on Canada’s economy by:
    • Having significant operations in Canada
    • Supporting a significant workforce in Canada
  • Have annual revenues of $300 million or more
  • Require a minimum loan of $60 million
  • Have never been found guilty of tax evasion

Assistance is available to large for-profit enterprises in all industries, except those who operate in the financial sector, as well as certain not-for-profit businesses. They must commit to minimizing loss of employment by sustaining their business operations through COVID-19 and provide an overall plan to return to financial stability.

For full information on LEEFF, visit the Canada Development Investment Corporation fact sheet here.

Canada Summer Jobs Program

On April 8th, the federal government announced changes to the Canada Summer Jobs Program to do more for students and small businesses that rely on the program to deliver essential services. The program creates almost 70,000 jobs for Canadians aged 15 to 30. Temporary changes to the program for this year include:

  • Increase to the wage subsidy so that employees can receive up to 100% of the minimum hourly wage for each employee
  • End date for employment is now February 28, 2021
  • Employers can adapt their activities to support essential services
  • Hiring staff on a part-time basis

Supports for Agricultural Producers

Farmers and the agri-food sector will be supported by Farm Credit Canada and an additional $5 billion dollars provided by the Government of Canada. You are encouraged to contact Farm Credit Canada to discuss the supports available to you.

Eligible farmers who have an outstanding Advanced Payments Program (APP) loan that comes due on or before April 30 will receive an automatic stay of default, giving farmers an additional 6 months to repay the loan. Those farmers with outstanding interest free loans, under the $1 million cap, can also apply for an additional $100,000 interest free portion for the 2020-21 year.

Agriculture and Food Business Solutions Fund

Farm Credit Canada will be running the Agriculture and Food Business Solutions Fund, providing agribusinesses and producers much needed relief during the COVID-19 pandemic. $100 million dollars will be available in the form of convertible debt investments and other flexible financing options. Companies that have experienced business disruption can apply for up to $10 million.

Fish Harvesters Benefit

Fish harvesters facing a 25% drop in income due to COVID-19, will have access to $470 million in relief from the Federal Government. The Fish Harvesters Benefit covers up to 75% of losses to a maximum of $10,000. Additional relief in the form of non-repayable grants will be available and the rules for Employment Insurance claims in 2021 will be changed to reflect previous years income.

AgriRecovery Set-Aside Program

The Saskatchewan Government announced an additional $5 million dollars for participation in the AgriRecovery Set-Aside Program, supporting producers in the livestock industry that need to hold their livestock back from markets. Saskatchewan Livestock producers will be able to access a total of $12.5 million under the program. 40% of the program is funded by the Saskatchewan Government, with the remaining 60% funded by the Federal Government. The program will be delivered to Saskatchewan producers through Saskatchewan Crop Insurance Corporation.

Western Livestock Price Insurance Program

The Western Livestock Price Insurance Program (WLPIP) supports livestock producers by reducing the price of livestock insurance purchased through WLPIP. $5 million is being provided by the Saskatchewan Government to offset the premiums producers are facing due to the COVID-19 pandemic. 40% of the increased premium costs, back to February 25, 2020 will be covered by the government. Additionally, the deadline for obtaining calf price insurance through WLPIP is being extended to June 18, from May 28, 2020. Premium adjustments will be in place until September 1, 2020, and reviewed at that time.

Producers may also qualify for payment deferrals on loans, skip-a-payment, and interest only payment plans. You are encouraged to reach out to your financial institution to determine what supports are available to you and what makes the most sense with your financial situation.

Breaking Down the Emergency Funds for COVID-19: Individuals & Families

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The COVID-19 crisis has produced a lot of federal and provincial government action in order to support Canadians through these unsettling times. However, unless you are already familiar with these supports, a lot of the terms and relief options can sound intimidating and may go unused if you do not understand them. Let’s break down the different emergency fund options for individuals and families, the qualifications for each and how you can utilize them to protect your financial well-being.

UPDATED: May 21, 2020

Over the last week, there have been countless announcements about financial support for both families and businesses across Canada. The increase in information can be a lot to take in when you are worrying about your job, family, and finances. Most of the information below and how to apply for benefits from the Government of Canada can be found here. I’ve done my best to compile and simplify the essential information so you can understand how local governments in our province and the provincial and federal governments are stepping up to help Canadians.

GST Credit

If you are a low-income single adult or family, you will receive a special top-up payment under the Goods and Services Tax (GST). This will double the maximum annual GST credit you will receive for the 2019-2020 benefit year. Payments will increase by almost $400 for single low-income adults, and almost $600 for couples. The one-time payment will arrive in early May 2020.

Canada Child Benefit

If you are entitled to the Canada Child Benefit, you will see payments increase for the 2019-20 year by $300 per child. On average, this will mean an additional $550 increase for families. This will be issued on the May 20, 2020 CCB payment.

Students

Student Loans

Canada Student Loans payments will be deferred for a period of 6 months. Payments will be paused, and no interest will accrue on the amount owing. If you also have student loans with the Government of Saskatchewan, a 6-month loan payment deferral has also been implemented, mirroring the federal relief. Student loans from your financial institution may also qualify for a skip-a-payment plan, but you should contact your financial institution to find out the options available to you and what makes the most sense with your financial situation.

Canada Summer Jobs Program

Students across Canada rely on the Canada Summer Jobs Program to find meaningful employment during the summer and develop critical skills to transition into the labour market. The 2020 program has been adjusted to allow flexibility to both applicants and employers in the following ways:

  • End date for employment is now February 28, 2021
  • Employers can adapt their activities to support essential services
  • Hiring can now include part-time positions
Canadian Emergency Student Benefit

On April 22, the Federal Government announced the Canadian Emergency Student Benefit which provides funding for Canadian students who do not qualify for the CERB benefit. This provides $1,250/month to students through the months of May to August. The amount increases to $2,000/month if you have a disability, have dependents or provide care for others. Students who are working and make less than $1,000/month also qualify for the benefit.

Eligibility criteria is as follows:

  • You have not received the CERB or Employment Insurance benefits
  • You are a Canadian citizen, registered Indian, permanent resident or protected person
  • You are studying in Canada or abroad
  • You are enrolled in a post-secondary educational program or completed your post-secondary program December 2019 or later, or completed or expect to complete high school in 2020 and have applied for a post-secondary program that starts before February 1, 2021
  • You are unable to work due to COVID-19 or your income is less than $1,000/month due to the pandemic

Applications can be submitted here and need to be submitted every four weeks. You can receive your money faster by signing up for direct deposit through your My CRA Account.

Canada Student Service Grant

The Federal Government also announced funding of up to $5,000 for students who choose to volunteer instead of work during this time. The grant depends on the amount of volunteer hours but can provide between $1,000 -$5,000 towards tuition for the 20-21 year.

Other Supports

Students will also see their Canada Student Grants double for all eligible full-time students to up to $6,000 and up to $3,600 for part-time students in 2020-21 school year. The Canada Student Grants for Students with Permanent Disabilities and Students with Dependents are also being doubled.

Funding will be increased by $75.2 million to support First Nations, Inuit and Metis Nation students, although there is no information about how that assistance will be handed out.

Old Age Security and Guaranteed Income Supplement Payment

Seniors who receive Old Age Security (OAS) and Guaranteed Income Supplement (GIS) payments from the Federal Government will receive up to $500 in a one-time payment to offset increased costs during the COVID-19 pandemic. Seniors will see an additional $300 for OAS and $200 for GIS automatically applied on the next payment they receive.

RRIF and RPP Withdrawals

Withdrawals from Registered Retirement Income Funds (RRIFs) are being reduced by 25% for the 2020 year. This also applies if you are receiving benefit payments from a defined Registered Pension Plan (RPP). You can view the minimum withdrawal percentage as of 2018 here.

Mortgages

The Canadian Government is providing $50 billion for the Ensured Mortgage Protection Program to support Canadians who are affected by COVID-19. The Canada Mortgage and Housing Corporation (CMHC) and other mortgage insurers are offering payment deferrals and special payment arrangements effective immediately on all CMHC insured mortgages.

In addition, many financial institutions in Canada are committed to working with customers to provide flexible solutions to your financial needs. This includes payment deferral on mortgages, auto loans, and personal loans for up to 6 months. You are encouraged to contact your financial institution to better understand your options during this time and what makes the most sense with your financial situation.

Utility Deferrals

Saskatchewan Crown Corporations that operate utilities in the province will offer a zero-interest deferral on all utility payments for a period of 6 months.

SaskTel – waiving data overage charges, offering news and family channels for free

SaskPower – stopped active collections and won’t be limiting power supply to customers

SaskEnergy – deferring payments and not limiting natural gas supply

City Supports

Specific measures for major municipalities in Saskatchewan can be found here:

Saskatoon     |     Regina      |      Prince Albert      |     Moose Jaw      |     Humboldt

Groceries

If you’ve visited a grocery store in the last two weeks, you’ll know that essentials like toilet paper, bleach, and disinfecting wipes are scarce. The major grocery stores in Canada have assured the public that the supply chain to keep stores stocked is strong. This has also been supported by the United States and Canadian governments’ commitment to keep the borders open to commercial traffic to ensure the flow of these goods.

In addition, major grocers have also committed to maintaining the price of goods instead of increasing prices as we usually see with an increase in demand. The President and CEO of Loblaws released this statement.

Childcare

The Government of Saskatchewan has announced that childcare facilities that are located within Saskatchewan’s schools will be re-purposed to assist with the childcare demands of health-care workers and essential services workers. This includes those employed in healthcare, child services, and emergency services. Read more here.

Personal Income Tax Filing

The date for filing personal income taxes for the 2019-20 year has been extended to June 1, 2020. However, to receive the new Canada Child Benefit payment and the GST one-time payment, you are encouraged to file your personal income taxes as soon as possible to ensure the amounts you will receive for the 2020-2021 year are correct. The Canada Child Benefit and GST payments are based off your 2019 taxes, and the amounts take effect in July 2020.

If you file your 2019 personal income tax, and owe money, you have until September 1, 2020 to make a payment on the taxes you owe. No interest will be accrued on any balances owing.

Where it applies, electronic signatures will be recognized instead of in-person signatures, to encourage social distancing. Measures will also be taken to encourage the public to file your income tax electronically and they have provided help with understanding your personal income tax over phone and webinar.

Trusts that operate on a December 31, 2019 taxation year, such as family trusts, have until May 30, 2020 to submit your 2019 trust income tax returns. This is extended from the March 30, 2020 deadline.

Employment Insurance

If you qualify for Employment Insurance (EI) Sick Leave Benefits, the requirements for EI are as follows:

Unemployed due to work closure?

REQUIREMENT TO QUALIFY: 700 hours worked in the last 52 weeks

  • Your employer will need to submit a Record of Employment to the Government of Canada.
  • The one week waiting period remains in effect.
Unemployed due to self-quarantine?

REQUIREMENT TO QUALIFY: 600 hours worked in the last 52 weeks

  • You do not need to provide a Record of Employment or doctor’s note.
  • The one week waiting period is waived

If you qualify for either of these situations, you can apply here. You can also call to apply, but wait times will be much higher than normal.

Canada Emergency Response Benefit

The Canada Emergency Response Benefit will provide up to $2,000 a month for the next four months if you don’t qualify for Employment Insurance. Administered through the Canadian Revenue Agency (CRA), you may qualify if you are one of the following:

  • self-employed, quarantined, or sick with COVID-19
  • self-employed and caring for a family member who is sick with COVID-19
  • a parent of children and cannot work due to school or daycare closures, whether you qualify for Employment Insurance or not
  • have not received any income in the last 14 days including provincial or federal benefits
  • have not quit your job voluntarily
  • have earned $5,000 in income in the last 12 months or 2019, including benefit payments from Maternity or Parental leaves
  • facing reduced income due to the pandemic, working less than 10 hours a week
If you are facing unemployment and don’t qualify for EI:

You will not need to provide a doctor’s note to access these benefits and are encouraged to sign up to receive the benefit through direct deposit. The application will be available in early April, and applicants will need to confirm they meet the requirements when they apply. You will also need to reconfirm your eligibility every four weeks. You can apply in one of two ways:

  • Applying online
  • Calling toll-free at 1-833-381-2725

You can speed up your application by signing up for direct deposit through the Canada Revenue Agency and online banking. More information on how to sign up through Conexus online banking can be found here. When applying through My CRA or My Service Canada, you will need a secure PIN code. If you feel you qualify for this benefit and do not have access to either of these accounts, you can request your PIN here. It can take up to 10 business days before you receive it in the mail, so requesting it now ensures you’re ready to apply when the application opens.

It is important to note, that if you receive the CERB benefit, you have to re-apply every four weeks to continue to receive the benefit if you need it. The CERB program provides relief until October 2, 2020. If you are still facing unemployment after that, you can apply for Employment Insurance.

EI Work Sharing Program

If you’ve agreed to reduce your normal working hours because of your employer’s efforts to curb the impact of COVID-19, you can also take advantage of the EI Work Sharing program. This provides Employment Insurance benefits to you if you’re still employed but working less than you normally would. In order to qualify for these benefits, you will have needed to work 76 weeks (an increase in the standard 52 weeks).

The Government of Saskatchewan also passed legislation ensuring that if you need time off work because you are sick with COVID-19 or are required to care for a family member who is sick, you will not experience job loss. Even if you have been working with your employer for less than 13 weeks, you qualify for job protection under this legislation.

Self-Isolation Support Program

If you have contracted COVID-19, have been in contact with someone who has COVID-19, or recently returned from international travel, you are required by law to self-isolate for 14 days. In this instance, the Government of Saskatchewan has announced the Self-Isolation Support Program that provides you with $450 a week, for a maximum of two weeks as income support. To qualify, you must also meet the following criteria:

  • you are ineligible for compensation from your employer through sick or vacation leave
  • you do not have access to private insurance to cover labour disruptions
  • you are not covered by the other federal income support programs that have been announced

Saskatchewan Temporary Wage Subsidy

The Government of Saskatchewan announced a $56 million program to provide a temporary wage subsidy to those who are currently working with vulnerable citizens. Those workers who are earning less than $2,500/month can access an additional $400/month for up to 16 weeks. The 16-week period is retroactive to March 15 and runs until July 4.

Workers who are considered essential workers, working as caregivers, cooks and cleaners in senior-care facilities, including private care homes and home care are eligible for the subsidy. Those who work in the same positions, caregivers, cooks and cleaners in licensed childcare facilities, group homes and emergency shelters are also included.

Applications will be accepted online, and more information can be found on the government website here.

“Ouch, My Budget!” – Tips for Getting Your Finances Back on Track

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When the joy and excess of the holiday season fades, you might be left with a seriously depleted bank account or a bulging credit card statement. When the bills are piled as high as the presents were under the tree – what do you do?

Blue Monday got you down?

Whether it’s after an expensive holiday season, unexpected expense, or from simply getting a bit too lax about your money, here are some main strategies to get you back on track.

Reduce: Your Spending

This is probably the most important tip. Reducing the amount of money going out will help you cover your debt, get back to saving, or whatever your goal is. I find it helpful to list out the expenses in your life that you would classify as needs (housing, groceries, bill payments, transportation, etc.), and those that are wants (eight different streaming services, eating out every night, new clothes, etc.). Then, you can see what can be reduced. Maybe you only really use one streaming service regularly, or only during new seasons of your favourite show. It seems small but these monthly fees add up fast and furious.

 Modify: Your Behaviours

Do you find yourself automatically heading for the drive-through or coffee shop every morning out of habit? It’s time to modify your behaviour to push yourself toward saving rather than spending. Start adding bagels to your grocery list and pop one in the toaster before you head to work or take a different route that avoids your favourite stops. You can also incentivize yourself toward better financial habits. For example, you could charge yourself a fee (that goes into your savings) every time you make an unnecessary purchase or reward yourself for meeting savings goals.

My personal favorite that holds me accountable is to keep a running list on my phone of any purchases that I would have made if I wasn’t making an active attempt to save. For instance, if I typically would grab a morning coffee on my way into work and I successfully avoid the temptation, I will add $3.00 to my running total. It can scale all the way up to larger purchases as well. You know when you are trying on some clothes and you know that you don’t really need the item but would have likely bought it anyway? If you can push past the urge to whip out the credit card, you can add this to your running tally and before you know it – you’ll have a nice chunk of change saved and a note on your phone that applauds your impulse control and saving behaviour.

Add: Routine, Automation, & Income

Saving doesn’t always mean denying yourself of your favorite things! Both routine and automation are your best savings friends. Routine can be things like meal-prepping or taking your cash tips to the bank every week. Automation can be automatic bill payments or savings contributions that you don’t even need to think about. Just make sure before you automate, that your budget consistently allows for that money to come right out of your account. The final thing that you can add is income. See if there’s a way for you to use your skills, talents, or time to make a bit more money to pay down that debt or add to your savings. For me, it’s running a mini Varage Sale empire that allows me to create closet space while making some spare cash on the side.

All of these tips are meant to help you minimize stress and get back to a more comfortable financial place. Hopefully you see one or two that you know are do-able for you.