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Revised Employment Insurance

Revised Employment Insurance

Potential Benefit: 55% of average weekly insurable earning to a Maximum of $573.00 per week

Period covered: March 18, 2020 to June 18, 2020

Taxation of Benefit: The individual will receive aT4A-EI from the government and the amounts will be Taxable

Eligibility: “You will have to have been laid-off after March 15, 2020.  Your previous employer will have to have issued you a separation slip.  The benefit of this program is that your waiting period will be reduced from the normal two week period to being eligible immediately.

Generally EI is available to individuals who:

  • were employed in insurable work activities;
  • their employment was terminated through no fault of their own;
  • worked the required number of insurable hours (at least 420 hours) during the last period before they previously had a claim under EI”

How to Apply: You have to apply at Service Canada

When to Apply: As soon as possible

Records to Keep: Your separation slip

What You Receive: A credit equal  to the calculated benefit. The Credit can either be transferred to your bank account or the government will send you a cheque (4 to 6) weeks after the application

 

 

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