COVID-19: Economic Relief Measures Announced to Date

  • The new Residential Construction Rebate Program will allow homeowners to save money on construction and renovations. The rebate will apply to work on a primary residence contracted within a 60-day period from the start of COVID-19 and the project must be substantially complete by March 31, 2021. Homeowners can qualify in one of two ways:
    • Renovation Projects: a 25 per cent rebate is available for renovation projects for principal residences, up to a maximum rebate of $10,000;
    • New Home Construction: a rebate of $10,000 is available for new home construction on homes valued up to $350,000 before HST.
  • For more information, see the Government of Newfoundland and Labrador’s news release of June 3, 2020.[518]

Students Supporting Communities Program

  • The program provides a $3,500 grant to organizations in order for them to hire students to help seniors and other vulnerable groups facing social isolation.
  • For more information, see the Government of Newfoundland and Labrador’s news release of May 15, 2020.[519]

Relief for electricity customers

  • On May 14, 2020, the Premier of Newfoundland and Labrador announced that residential and general service customers with rates based on Holyrood fuel costs will receive a one-time credit on their electric bills. The amount will vary based on customers’ usage.
  • The government is also providing up to $2.5 million to waive interest on overdue accounts for residential and general service customers throughout the province.
  • For more information, see the Government of Newfoundland and Labrador’s news release of May 14, 2020.[520]

Changes to defaulted student loan account collections

  • The Government of Newfoundland and Labrador announced for individuals with provincial student loans in default and who file income tax returns with the CRA from April 9, 2020, to September 30, 2020, which results in a refund, including GST credits, that the CRA will send these refunds directly to individuals instead of the Provincial Government.
  • The decision is not retroactive and only applies to defaulted student loan borrowers who file their income tax return with CRA on or after April 9, 2020. 
  • For more information, see the Government of Newfoundland and Labrador’s news release of April 9, 2020[521]

Legislative amendments for individuals

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