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Helpful resources and tips to help during COVID-19 Thumbnail

Helpful resources and tips to help during COVID-19

We hope this message finds you and your family well. As information is constantly changing, and some of the details remain vague, we wanted to reach out and provide some helpful information and links to help you get through this uncertain time as best as possible. 

Helpful resources and tips: *

*The websites suggested are for information only and have not been verified 

Filing of 2019 Taxes – Although the deadline for filing has been pushed back until June 1, 2020, it is suggested that you do not delay in filing them. Our tax team is ready and working to make sure your 2019 filing is completed, if you have and questions or concerns please contact us at heather.fraser@manulifesecurities.ca

Even though the deadline for filing has been pushed back, if you delay filing your taxes, you will delay benefiting from some of the incentives the government has put in place to assist people through this difficult time. The GST credit and Canada Child Benefit are both dependent upon your tax return being filed.

Should you be looking for additional tips on accessing benefits and relief, you are encouraged to register at CRA My Account, My Service Canada Account and, if applicable, with your mortgage lender. By establishing an on-line presence, you will be informed of any changes and if your situation changes you have direct access to relief.  

Financial Assistance – For the latest financial assistance available during this time check out: https://www.canada.ca/en/department-finance/economic-response-plan.html

Hydro – Reduction of daily use rates for Hydro One & the Pandemic Relief Fund. For further information check out: https://www.hydroone.com/

Check out your local hydro company to see what assistance they may provide. 

Enbridge Gas – check out this website at: https://www.enbridgegas.com/covid-19

Cell Phone Providers – check out this website for details: https://www.whistleout.ca/CellPhones/Guides/covid-19-mobile-carrier-response

Cable TV Companies – check out this website for helpful information: https://thelogic.co/news/suspending-data-caps-offering-bill-relief-how-22-canadian-internet-service-providers-are-responding-to-the-pandemic/ 

Credit Cards – the federal government is asking credit card companies to lower interest rates in response to COVID-19. Check out this article: https://nationalpost.com/pmn/news-pmn/canada-news-pmn/canadian-press-newsalert-feds-seeking-lower-credit-card-interest-rates-over-covid-19

Contact your credit card company to see if they will provide assistance and lower your credit card interest rate.

Mortgages – many banks and mortgage companies are providing assistance to customers to address the current crisis. Please contact your bank, mortgage company or mortgage broker for advice and assistance.  Please refer to the following for some information that you may find helpful: https://rates.ca/resources/mortgage-lenders-covid-19-announcements/ 

Some important things to do in relation to your mortgage

1) Let the lender know well in advance of any issues with payment.

2) Establish an online link with the bank/lender. Many have an option to “skip-a-payment” but you need to be registered online and then it can be as simple as clicking month-by-month, up to 6 months.  By registering online, you also have access to up-to-the-minute changes in processing, BUT you still have to be diligent – it falls back on the client who is ultimately responsible for letting the lender know about difficulties with making payments.

We pray that you, your family and loved ones remain healthy and safe during this time. If there is anything we can do to assist you, please reach out. We are here to serve you and help you. 

Peter B Fraser CFP®CIM®
Investment Advisor, Manulife Securities Incorporated
Life Insurance Advisor, PB Fraser and Company Inc.
peter.fraser@manulifesecurities.ca
Wade Bedard CIM®
Investment Advisor, Manulife Securities Incorporated
Life Insurance Advisor, PB Fraser and Company Inc.
wade.bedard@manulifesecurities.ca

Peter Fraser and Wade Bedard and Manulife Securities Incorporated ("Manulife Securities") do not make any representation that the information in any linked site is accurate and will not accept any responsibility or liability for any inaccuracies in the information not maintained by them, such as linked sites. Any opinions or advice expressed in a linked site should not be construed as the opinion or advice of Peter Fraser or Wade Bedard or Manulife Securities. The information in this communication is subject to change without notice.