Canada Emergency Response Benefit - What it means for REALTORS®
TAGS: Canada Emergency Response Benefit Canadian Real Estate Association Coronavirus COVID-19
With the announcement of the newly created Canada Emergency Response Benefit (CERB) and associated eligibility criteria, the Canadian Real Estate Association (CREA) continues to work with the federal government to make additional details available to REALTORS® as soon as possible.
"Since the emergence of COVID-19, CREA has been in ongoing discussions with government departments and agencies. We have had meaningful conversations about the unique challenges facing Realtors and the potentially devastating outcomes of any interruptions to their day-to-day business," said Michael Bourque, CEO of CREA. "We are monitoring the implementation of these programs and will continue working to ensure these small-business people are eligible for financial aid."
As the professional association representing BC's 11 real estate boards and more than 23,000 Realtors, the British Columbia Real Estate Association (BCREA) is working closely with CREA to ensure Realtors can access this benefit.
CERB is a taxable benefit that will provide $2,000 a month for up to four months for workers who lose their income as a result of the COVID-19 pandemic and covers Canadians who have lost their job, are sick, quarantined, or taking care of someone who is sick with COVID-19, as well as working parents who must stay home without pay to care for children who are sick or at home because of school and daycare closures.
The government has said CERB will apply to contract workers and self-employed individuals who would not otherwise be eligible for Employment Insurance (EI). CREB will also be available to workers who are still employed but are not receiving income because of disruptions to their work situation due to COVID-19.
The new benefit will be available through an online portal that is set to launch on April 6, with funds expected to flow within ten days of applying.
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