The Canada Economic Stimulus Benefit (CEP), introduced by the federal government to replace the Canada Emergency Benefit (CEP) for those without access to Employment Insurance, is available today .
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This new benefit is intended in particular for contract workers, employees who do not participate in employment insurance, self-employed workers and retired workers who supplement their end of the month with odd jobs.
This is a benefit of $ 500 per week available for a maximum period of 26 weeks.
Here is a little guide to help you navigate this new service.
– You are not eligible for employment insurance.
– You no longer have work income or you experience a drop of more than 50% of your income
– You do not receive any other benefit
– You are 15 years of age or older
– You have earned at least $ 5,000 in the last year, since the start of the year or in the last 12 months
– You did not leave your job voluntarily
– Your annual income, for this year, must not exceed $ 38,000. If your income is more than this amount, you will need to repay 50 cents for every dollar of PCRE you receive.
– Are you looking for a job
If you are eligible for the Canada Economic Stimulus Benefit (PCRE), you must apply to the Canada Revenue Agency (CRA).
By going to the CRA website, you can make your first request by logging into “My Account”.
Although the benefit is $ 500 per week, the payment will be $ 900 bi-weekly since the CRA takes 10% for tax purposes.
Claimants may have to pay more tax at the end of the tax year.
There will be 13 qualifying periods in total for the PCRE.
The benefit will be paid after the eligibility period. So if you are two weeks without income and you apply, you will receive the benefit at the end of these two weeks.
The PCRE request must be renewed every two weeks.
For those who are not eligible for the PCRE, it is still possible to apply for employment insurance if you have accumulated a minimum of 120 insurable hours.