CRB Update | New Rules on Who Can Apply | Do You Qualify for Canada Recovery Benefit?

The Canada Recovery Benefit has some different eligibility rules compared to the CERB so while you may have qualified for the CERB, you may not qualify for the CRB. The CRA has posted the requirements for the CRB and in this video, we look at the eligibility requirements to determine if you qualify.
Who can apply?
The CRB is designed to assist Canadian residents who have suffered income loss due to COVID-19.
The benefit covers people who do not qualify for financial help under the Employment Insurance (EI) program. People who receive EI due to the loss of a job are not eligible to be part of the CRB program.

CRB is not available to applicants or recipients of a handful of other benefits. These include the Canada Recovery Sickness Benefit (CRSB), the Canada Recovery Caregiver Benefit (CRCB), short-term disability, workers’ compensation, or Quebec’s QPIP. You Can't double dip for the same period!!

To apply for the CRB u must have been without work due to COVID-19, or saw average weekly employment or self-employment income drop at least 50% compared to the same period in 2019, 2020, or the last 12 months from the period in which you are applying for.

Additional Canada Recovery Benefit (CRB) eligibility rules

Canadians have to be in the country for the CRB claim period.
Applicants must be at least 15 years old with a valid Social Insurance Number.
Income in 2019, 2020, or the previous 12 months must be $5,000 or higher.
A person didn’t voluntarily reduce working hours or quit a job.
The CRB applicant was seeking work as an employee or as a self-employed individual. In addition, a person didn’t turn down a job offer in the CRB period.

Individuals must apply for each two-week period. This would mean a maximum of 13 applications need to be made to collect the CRB for the full 26-week limit

How much does the Canada Recovery Benefit (CRB) pay?

$500 per week

10% withholding

Paid out after the eligible 2 week period

Total of $1,000 but you will receive $900 net

Benefits are taxable and will need to be reported on the T1

The CRB payments max out at 13 periods, or 26 weeks. Any two-week period from September 27, 2020, to September 25, 2021

Canada Recovery Benefit. Hopefully this explains the CRB more for you!

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Save your benefit $$ in a Canadian High Interest Savings Account (EQ Bank): https://api.fintelconnect.com/t/l/5f4d3423d72493001ba0f8f7

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