MNP LTD Preparedness Update Regarding the Coronavirus (COVID-19)

2020-03-23 minute read

Amid ongoing concerns about the Coronavirus (COVID-19) outbreak around the world and close to home, we want to update you about what MNP LTD is doing to navigate the situation.

First, we want to emphasize that we remain open for business, are fully operational and have taken steps to ensure we will be able to continue to carry on during changing circumstances. We have taken precautionary measures to ensure the health and wellbeing of our clients, team members and families.

In light of local government recommendations to increase social distancing, our MNP LTD offices have been temporarily closed to the public. We respectfully recommend that you consider the following temporary alternatives to an in-person office visit:

Videoconferencing (Skype, Messenger, Zoom, FaceTime, etc.) or telephone for general meetings and mandatory counseling sessions;
Free scanning apps (e.g. Adobe Scan) to digitize your documents for sending them via email or fax;
Use of email or fax to send in income and expense reports, tax information and other correspondence; and
Pre-authorized debit (PAD) to make payments.

We greatly appreciate you choosing MNP; your safe working relationship with MNP LTD is our priority. If you have any questions or concerns, please do not hesitate to contact your local office or Licensed Insolvency Trustee.

Support for Canadians

All three levels of government, banks and communication and utility providers are working together to try and assist Canadians. Many helpful financial measures have been announced and more may be revealed in days to come. Many of the latest efforts by the government can be found here, but we’ve included some of the highlights below.

The one week waiting period to receive Employment Insurance (EI) sickness benefits has been waived for those who are in quarantine or need to self-isolate. The normal requirement to provide a medical certificate to access EI has been waived. Anyone looking to apply for the new EI benefits can visit the Employment and Social Development Canada (ESDC) website.
If you don’t qualify for EI a new program called the Emergency Care Benefit has been introduced, which should begin in April. This program should provide income support to workers — including the self-employed — who are quarantined, sick with COVID-19, caring for a family member sick with COVID-19, or caring for or supervising their children due to school closures.
The Work Sharing Program has been enhanced, which will help workers and employers impacted by the downturn in business due to the virus.
An Emergency Support Benefit will be introduced for those who lose their jobs or face reduced hours because of the coronavirus problem and are not eligible for EI.
There may be a one-time special payment from the Federal Government in early May for low to modest-income families through the Goods and Services Tax Credit.
The government is proposing an increase to the Canada Child Benefit with a larger payment than normal in May.
The Canada Revenue Agency (CRA) is granting some relief from tax penalties and interest, providing flexible payment arrangements and postponing collection activities on a case-by-case basis if someone has been impacted by COVID-19. Also, the personal tax return filing data has been extended to June 1, 2020.
Canada's six largest banks have announced that they are providing financial relief to their customers who have been impacted by COVID-19. This assistance can include up to a six-month deferral of mortgage payments and the possibility for relief with other credit products. Please contact your financial institution or your mortgage insurer (CMHC or Sagen) to learn more about their programs and your eligibility.
Rogers, Telus, and Bell have announced support for their customers including enhanced leniency and flexibility for customers facing financial hardship and also waving some fees (e.g. internet overage, long-distance, roaming, etc.). Please contact your local service provider to learn more.
Utility companies are also supporting Canadians with flexible repayment and assistance plans, please contact them to learn more.