The Federal Government Is Planning More COVID-19 Support & Here's What You Need To Know

According to a new economic update from the federal government, there could be more COVID-19 support on the way for Canadians including help for students.

On December 14, Canada's Deputy Prime Minister and Minister of Finance Chrystia Freeland unveiled the government's Economic and Fiscal Update 2021 that outlined plans for financial help related to COVID-19 and more.

"This was a once-in-a-generation trauma. When it first hit, many predicted it would take years to rebuild," Freeland said. "That is why we are so pleased to report that Canada has largely recovered from the economic damage inflicted by COVID-19 and is poised for robust growth in the months to come."

In the update, it was noted the government introduced Bill C-3 on November 26, 2021, to provide 10 days of paid sick leave per year to workers in the federally regulated private sector and will work to make sure the legislation gets implemented.

As for students, the fiscal update included a plan to provide debt relief to those who received but were ineligible for the Canada Emergency Response Benefit (CERB) and should've gotten the Canada Emergency Student Benefit (CESB) instead.

It has been reported that some people will get notices that they owe the CERB money back, specifically those who weren't supposed to receive the benefit.

So, the proposed support for students would let CERB related debt be offset by the amount of money they would've received from the CESB during the same time.

The government has proposed up to $742.4 million for one-time payments to ease the financial burden for seniors who get GIS and Allowance but also received the Canada Emergency Response Benefit (CERB) or the Canada Recovery Benefit (CRB) in 2020.

To help Canadians working from home because of the pandemic, the government said it will extend the simplified rules for deducting home office expenses and increase the temporary flat rate to $500 a year. The rules will apply to the 2021 and 2022 tax years.

Also, the government noted that legislation has already been introduced to extend the Canada Recovery Caregiving Benefit and the Canada Recovery Sickness Benefit until May 7, 2022, and increase the maximum period of benefits by two weeks.

A new Canada Worker Lockdown Benefit is in the works as well that would provide $300 per week to workers who are unable to work because of a specific government-imposed public health lockdown.

"As Omicron has reminded us, COVID-19 threatens us still," Freeland said. "As 2021 draws to a close, finishing the fight against COVID-19 remains our most important national project.”