Industry News / Events
COVID-19 Information Update
Members, below is a summary of known and/or related information for the COVID-19 situation. Some of this information is business related and some is employee related – the information here can and should be passed on to your employees.
- Personal Income Tax return filing date has been extended to 1 Jun 2020 and defer any payments due until after 31 Aug 2020
- The GST Credit has been increased to $400 for single adults and to $600 for couples, with payment coming as early as May 2020
- To get the GST Credit, a tax return needs to be filed
- The Child Tax Benefit will be topped up by $300 per child (on top of the current benefit) starting in May 2020
- The GST Credit and CTB payment can provide up to $1,500 per family in May 2020
- The 1 week wait to qualify for EI benefits will be waived
- Student loans will be deferred for a 6 month time frame with no penalties or accrued interest charges
- The Indigenous Community Support Fund has been created and provided with $305M to support First Nations, Inuit, and Metis Nation communities
- Reducing minimum RRIF withdrawals by 20% for 2020
- Canada’s largest banks will on a case-by-case basis work with customers to defer mortgage payments for 6 months and the opportunity for relief on other credit products – you will have to reach out to your financial institution to initiate the process
- The new Emergency Care Benefit can provide up to $900 bi-weekly, for up to 15 weeks, to workers, including those that are self-employed, who are quarantined or sick with COVID-19 but do not qualify for EI.
- This also applies to those that are taking care of a family member such as an elderly parent sick with COVID-19 but do not qualify for EI.
Support for Businesses
Canada’s COVID-19 Economic Response Plan
Support for Canadians and Businesses
From: Department of Finance Canada
Woodbine Brunch – Postponed – date TBD
GM Competitive Assistance Program
BIG NEWS!! The O.L.O.A. board is pleased to announce that GM is offering all O.L.O.A. members SIGNIFICANT SAVINGS for the following vehicles:
New Models Added to the Program:
Lincoln News - Introducing the All‐New 2020 Lincoln Navigator
FEATURE COMPANY PROFILE MARCH 2017 - CULLITON'S LIMOUSINE SERVICE
• O.L.O.A. member intending to acquire one of the above models must obtain an approved authorization letter from the O.LO.A. board. Member must bring completed and signed letter to GM dealership of choice to complete purchase/lease transaction.
• These incentives are not compatible with any other GM Fleet or retail programs.
• The vehicle(s) must be registered in your company name and retained for a minimum of 6 months and 12,000 kms.
• This GM incentive program is exclusively for Ontario Members.
• New Members are required to pay two year membership in advance in order to qualify for the GM incentive program.