Province Providing Additional Financial Assistance For People, Businesses Affected By COVID-19

The government of Alberta is providing financial assistance to people affected by COVID-19.

Premier Jason Kenney announced on Wednesday new measures to help residents and small business owners.

Some of the new measures include giving $573 to people who are self-isolating and have no source of income, freezing student loan payments for six months, and giving the option to delay utility bills for 90 days.

“Albertans are doing their part to keep each other safe and prevent the spread of COVID-19,” said Kenney. “We are doing ours by assisting Albertans and their families, protecting jobs and supporting workers and employers.”

“We will help shelter Albertans from the economic disruption of COVID-19 now, and position Alberta’s industry and businesses to bounce back when the situation stabilizes. This is an initial set of measures, and more will follow in the days to come.”

The GoA is also deferring collection of corporate income tax balances and installment payments for employers from now until August 31, 2020.

This is expected to help free up around $1.5 billion for businesses across the province.

“In these exceptional circumstances, having cash on hand is vital to families and employers and it’s critical we give Albertans this certainty and support,” added Travis Toews, President of Treasury Board and Minister of Finance.

“This tax measure will provide timely relief and additional runway for businesses to continue operating and compensating their employees during this difficult time.”

Meanwhile, the province is giving ATB Financial banking customers the opportunity to apply to have their loans, lines of credit, and mortgage payments suspended for six months.

Small businesses are also being provided access to additional working capital.

Also, an additional $60 million to help charities and non-profits.

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