Economic assistance from the Quebec Ministry of Finance to deal with the COVID-19 pandemic
Dear Madam,
Dear Sir
Today, the Quebec government announced three groups of measures to support the economy, businesses and individuals in dealing with the COVID-19 crisis.
1. Measures affecting individuals
2. Measures affecting businesses
3. Measures to support the economy
Do not hesitate to contact one of Mallette's tax specialists or partners in your region among our 30 offices for more information: mallette.ca/contact-us
MEASURES AFFECTING INDIVIDUALS
TEMPORARY ASSISTANCE FOR WORKERS PROGRAM
The program is designed to provide financial assistance to meet the needs of workers who are unable to earn their full working income and who are not eligible for any other financial assistance program due to isolation from the spread of COVID-19.
The details of this programme are as follows:
Not being eligible for employment insurance
and not having private insurance (self-employed workers)
.and not have private insurance (workers
autonomous)
Be in isolation
Loss of salary due to isolation
Amount maximum of $573/week tax-free
Payable for a period of 14 days, up to 4 weeks if necessary
Apply to the Red Cross, which will administer the programme in your home.Red Cross, which will administer the programme using a prescribed form
(available on Thursday at quebec.ca) and direct deposits or prepaid cards
The federal government is expected to improve its employment insurance programme within the next 3 days. The above provincial program will be in addition to the federal program, but will not exceed the limit of $573 per week. All other details to come.
For more details on this measure you can visit quebec.ca to which details should be added in the coming days.
No substantial announcement was made today. The only announcement made concerned loans by Investissement Québec to help businesses overcome liquidity problems.
loans. These loans could possibly be converted into direct aid subject to certain conditions. Full details are still to be worked out.
MEASURES TO SUPPORT THE ECONOMY
Quebec announces its intention to accelerate investment in the Quebec Investment Program (PQI). The three sectors targeted are :
Health
Education
Transport
All current and planned projects in these sectors should be accelerated.
MEASURES CONCERNING DEADLINES FOR PRODUCTION
No concrete measures have been announced to extend the deadline for filing income tax returns (individuals, trusts, corporations). However, the Quebec Finance Minister is in discussions with his federal counterpart and an announcement could be made in the next few days.
Thank you for your time.