Canadians with pandemic benefit debt to get one year of interest relief from Ottawa, says source | CBC News

Canadians who received pandemic benefits will have up to a year to pay back any debt from those benefits without interest, CBC News has confirmed.

The interest relief will apply to Canadians who made up to $75,000 in 2020 and received one of the federal government’s five pandemic relief benefits or employment insurance benefits. The measure was first reported by The National Post.

Those pandemic benefits are the Canada Canada Emergency Response Benefit (CERB), the Canada Recovery Benefit (CRB) that replaced it, the Canada Emergency Student Benefit (CESB), the Canada Recovery Caregiving Benefit (CRCB) and the Canada Recovery Sickness Benefit (CRSB).

The interest relief will automatically be applied to anyone who meets the criteria, according to a government source not authorized to speak publicly.

The formal announcement is expected Tuesday.

More to come …

Leave a Reply

Your email address will not be published. Required fields are marked *