(613) 324-0158 info@balance-financial.ca

Summary of Federal Financial Support

Federal Government announces broad support

Province to announce measures soon

In an effort to keep you as informed as possible on the financial impact of the COVID-19 crisis, we’ve put together a summary of the federal government’s COVID-19 Economic Response Plan announced on Wednesday. Some details still haven’t been released, and we will bring those to you once they are.

We were pleased to see the reduction in the minimum annual RRIF withdrawal, which supports what we’ve been advising our retired clients: avoid, as much as possible, withdrawing from investments when they’re down in value.

One caveat is not to take advantage of the extension of the tax filing date for individuals if you receive the Canada Child Benefit. Delaying the filing of your tax return will delay the payment of the enhanced CCB.

As always, if you have any questions, please call, text or email us, or request a Zoom video conference. We’re here to help.

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(613) 324-0158

info@balance-financial.ca