Steak or lentil-burger? Which will it be for seniors who either must watch the food budget, or who merely enjoy being frugal. Either way, it sounds as if we will have to be even more vigilant when grocery shopping in order to get the most out of our food dollar. Some seniors are exploring the farming commuities or fishing harbours, determined to strike up relationships with those hard-working food provisioners. This is great if seniors have not given up their cars, and we have heard of groups of elders getting together and pooling car expenses, forming food gathering expeditions to the farming and fishing centres. All the with aim of getting proper food which is authentic in place of origin. The price? Probably higher, but some seniors feel that nutrition is priceless. What do you think of this story? Do you have plans to band together with other seniors to explore food options? Let us know.
It is not clear who is eligible or when the financial package will be sent out, or whether it will be mailed or direct=deposited. We will keep our eye on this news item and post updates as we receive them.
Prime Minister announces support for vulnerable Canadians affected by COVID‑19
Canada’s COVID-19 Economic Response Plan
Parts of the Plan of Special Interest to Seniors:
- “Provide immediate essential services to Canadian seniors impacted by COVID-19. The Government of Canada will contribute $9 million through United Way Canada for local organizations to support practical services to Canadian seniors. These services could include the delivery of groceries, medications, or other needed items, or personal outreach to assess individuals’ needs and connect them to community supports.”
- “We are deferring the filing due date for the 2019 tax returns of individuals.
For individuals (other than trusts), the return filing due date will be deferred until June 1, 2020.
We will also allow any new income tax balances due, or instalments, to be deferred until after August 31, 2020 without incurring interest or penalties.”
- “Mortgage support
Canadian banks have committed to work with their customers on a case-by-case basis to find solutions to help them manage hardships caused by COVID-19. Canadians who are impacted by COVID-19 and experiencing financial hardship as a result should contact their financial institution regarding flexibility for a mortgage deferral. This allows flexibility to be available − when needed − to those who need it the most.”
- Enhancing the Reaching Home initiative
“We continue to support people experiencing homelessness during the COVID-19 outbreak by providing $157.5 million to the Reaching Home initiative.The funding could be used for a range of needs such as purchasing beds and physical barriers for social distancing and securing accommodation to reduce overcrowding in shelters.”
- “Reduced minimum withdrawals for Registered Retirement Income Funds
We are reducing the required minimum withdrawals from Registered Retirement Income Funds (RRIFs) by 25% for 2020.”
The following are also good sources of information: