Paramount Management is Here For You. LEARN MORE
The COVID-19 pandemic, and the measures being taken to reduce transmission of the virus, will mean adjustments and challenges for all of us. We value our relationship with you and wanted to reach out in these difficult and uncertain times. We understand that many Canadians are facing uncertain economic times as we all experience the impact of the COVID-19 crisis. To help, we would like to offer to talk with you by telephone to discuss your personal situation.

In addition, we want to share potential aid that may be able to help you through various government programs. Specifically, the Federal Government has implemented a COVID-19 Economic Response Plan
This includes:

• Defer tax payments until after August 31, 2020 (this applies for any income tax owed between March and September 2020). No penalties or interest will accumulate on the amounts owed during this period.

• Take advantage of the six-month interest-free reprieve on student loan payments;
• If you run a small business, contact the federal government to ask about access to money — known in the media as the $10 billion credit facility — that is available for business facing financial stress as a result of COVID-19;
• Canada Emergency Response benefit of $2,000 a month for up to four months, to be accessible through web portal early April
• Reduced minimum withdrawals for Registered Retirement Income Funds for Seniors by 25% for 2020
• Eligible small business can apply for temporary wage subsidy for a period of three months

And the Provincial Government has stepped up for Nova Scotians

• Individual on income assistance will receive an additional $50 starting Friday, 20 March.
• Nova Scotia Student Loan payments are suspended until 30 September 2020. No payments required, and loans won't accrue interest.
• Government loans, deferred payments until June 30
• Government will defer payments until June 20 for small business renewal fees
• Small Business Loan Guarantee Program, administered through credit unions, changes include deferred principal and interest payments until June 30, enhanced so businesses can access credit up to $500,000, and if might not qualify for a loan, government will guarantee the first $100,000.
• Small businesses which do business with the government will be paid within five days instead of the standard 30 days.

Keep in mind, as well, you may automatically qualify for special top-ups, such as:

• GST credit top-up payment for low-income individuals and families
• Canada Child Benefit payments, you may see a temporary boost in funds from the federal government.