$500/Week Emergency CRA CRB Money: Should You Apply?

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If you've exhausted your CERB and still need income support, apply for CRB to receive the same $500 weekly benefit. Canadians who wants added cushion can invest in the high-yield Northwest Healthcare Properties stock.The post $500/Week Emergency CRA CRB Money: Should You Apply? appeared first on The
The Canada Emergency Response Benefit (CERB) has officially ended but is not actually over with the coming of the Canada Recovery Benefit (CRB) in October 2020. The payment of the $500 weekly taxable benefit will continue after CERB, although under a different name tag.

Not everyone is transitioning to Employment Insurance (EI) despite the relaxed rules, however. If you're looking for work, yet the EI system rejects your claim, CRB is there for you. The Canada Revenue Agency (CRA) has been accepting applications since October 12, 2020.

Enormous volume

CRB is the key COVID-19 benefit for Canadians who will not qualify for EI in the recovery phase. Two other new benefits – Canada Recovery Sickness Benefit (CRSB) and Canada Recovery Caregiving Benefits – came with CRB. On the first day, the CRA received 240,640 applications.

Employment in Canada is picking up, but about four million more would need income support. Of the total estimate, 2.8 million are EI-eligible, while the rest will likely apply for the new benefits, including CRB.

Clear eligibility rules

You can apply for CRB with the CRA, online or by phone if you're looking for work but can't find any. Before your first claim, make sure you have a valid Social Insurance Number (SIN). You must have earned at…
Christopher Liew, CFA
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