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Payment Deferrals Available for Individuals and Businesses

If you have already applied for financial support programs as a business or individual, and are looking for additional ways to help alleviate the financial burden of the COVID-19 impact, there are numerous payment deferral programs available for you to take advantage of.

The two tables below, one for individuals and one for businesses, outline these programs at federal, provincial and municipal levels.

To view the specific details of any of the programs listed, click on LEARN MORE under the LINKS column.

INDIVIDUALS

Deferral When can I defer until? Do I have to pay interest? Government Level Links Notes
Canada Student LoanSeptember 30, 2020 No Federal Learn More • Repayment is automatically suspended until September 30th, 2020
Income Tax Owing August 31, 2020 No Federal Learn More • Includes the June 15, 2020 payment for those paying by installments
MortgageUp to 6 Months Yes Federal Learn More • Contact your financial institution for more information on their specific programs
Alberta Student LoanUp to 6 Months No Provincial Learn More • Repayment will be paused for 6 months, beginning March 30, 2020
ATB Loans, Lines of Credit and Mortgages Up to 6 Months Yet Unknown Provincial Learn More • Personal banking customers can apply for a deferral on loans, lines of credit and mortgages
Utilities June 19, 2020 Yet Unknown Provincial Learn More • You will not be required to pay for the entirety of balance owing when deferral ends
• Providers will have various repayment options
Property Tax Varies Varies Municipal • Please visit your municipality's website for possible deferral program(s) information

BUSINESSES

Deferral When can I defer until? Do I have to pay interest? Government Level Links Notes
Federal Income Tax Owing August 31, 2020 No Federal Learn More • Applies to balances and instalments due between March 18 and September 1, 2020
Education Property Tax 6 Months Yet Unknown Provincial Learn More • Deferred amounts will be repaid in future tax years
Provincial Income Tax Owing August 31, 2020 No Provincial Learn More • Applies to balances coming due between March 18 and August 31, 2020
Tourism Levy August 31, 2020 No Provincial Learn More • For hotels and other lodging providers
• For amounts that become due to government on or after March 27, 2020.
Utilities June 19, 2020 Yet Unknown Provincial Learn More • Farm and small commercial only
- Electricity consumers who consume less than 250,000 kilowatt hours per year
- Natural gas consumers who consume less than 2,500 gigajoules per year
WCB Premiums One Year (Early 2021) No Provincial Learn More • If you have already paid, you are eligible for a rebate or credit
• For small and medium businesses, government will cover 50% of the premium when due

For a complete list of our COVID-19 resources for individuals and businesses, please visit availcpa.com/resources

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