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Tag: Canada

Posted on April 13, 2020May 1, 2020

COVID-19 financial support in different countries around the world

COVID-19 economic response

Governments in majority countries opened accounts to support their people and businesses to minimize impact by corona virus (COVID-19).

Here is a list of supporting initiatives:

AUSTRALIA

  • Change your GST reporting cycle
  • Medical supplies are GST free
  • Government announces coronavirus relief package for higher education with focus on domestic students
  • NSW government announces rent relief package
  • Early access to your super

CANADA

  • Canada Revenue Agency deferred GST/HST tax remittances and payments
  • CRA deferred the filing due date for the 2019 tax returns of individuals
  • Relief measures for individuals and businesses by Revenu Québec
  • $5.5 billion GST rebates to help who lost income

EUROPEAN UNION

  • Measures taken to support the European economy

NEW ZEALAND

  • New Zealand Government’s COVID-19 economic response package

UK

  • Second quarter VAT payments deferred in UK

US

  • Historic $2 trillion stimulus deal
  • U.S. airlines will receive almost $60B bailout

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