CRB Update Post Election and Exhausted EI

what's up you certified beauties it's nick here from knicks taxes back with another video again i had taken some time off but i'm back to talk about the canada recovery benefits and where we stand right now especially since the last video i had was pre-election so let's talk about those results but i was on a little bit of a vacation again just for a week i visited some family out in british columbia beautiful province so if you ever get a chance to go to british columbia definitely recommend it i was in vancouver and then i drove to kelowna and then out towards the kootenays into golden back down to kamloops and finished again in vancouver was a great trip so bc i'll definitely be back but let's talk about uh the canada recovery benefit and where it stands right now i've been getting a few questions on my most recent videos i'm going to acknowledge those questions and answer them in this video before we get started if you are someone who has a disability or know someone who has a disability the disability tax credit is something that's available to you on your tax returns in any prior year or future your tax returns so long as you still meet those requirements and we can help you out by using the link in the description uh for that disability tax credit so check that out also if you are interested in investing in cryptocurrencies such as bitcoin check out my link below as well and get some money to help get you started all right so as of right now as we may know the canada recovery benefit uh you have a total of 27 eligibility periods which is 54 weeks that period had started september 27 2020 and is going to end october 23rd 2021 so that is coming up originally the end date of the canada recovery benefit was in september and then our government had extended it and now as we're nearing the end of this period of the canada recovery benefit as october 23rd comes due we'll be seeing if there's going to be another extension or what's going to happen here regarding the canada recovery benefit also some people have been running out of ei and have been asking if they can now go on to the canada recovery benefit other people are asking how long they can go on if that is applicable or what this new government is going to do regarding the canada recovery benefit universal basic income and so on and so forth so to kind of get started let's just talk about that election justin trudeau was reelected again let me know in the comments below your thoughts are you happy with the results of this election are you happy that trudeau is back in let me know but in general nothing really changed as a result of that snap election i believe the liberals gained two more seats so it's a very similar outlook in terms of our political landscape from you know before this election happened the liberals are still in control but they still have a minority government which means that any sort of laws that they're trying to implement such as the extension or an implementation of a canada recovery benefit needs to be supported by the total members of parliament so they're going to need help from other parties to help get these bills pushed if you recall the canada recovery benefit and the extensions have been greatly supported by the ndp party and so that is the reason why we've been seeing these get pushed through but if there's any sort of issues where there's going to be some debate and whatnot it's going to take a while for these new laws and what not to be passed because again the liberals are in a minority which means that they need support from other people to you know reach a consensus to get these bills through uh as i talked about my previous video the liberals as of right now they are not for ubi universal basic income we've been talking about that for a while on this channel and from what's been said before the liberals a lot of them would support the idea of a ubi but justin trudeau has come out and said that that's not going to happen that's not on the forecast radar for his government going forward it's not in the budget or anything like that so i don't see it happening although this is justin trudeau so i really don't believe anything that he says to be honest with you i don't know where you guys stand with that but as of right now he's saying there's not going to be anything regarding the ubi if you want to follow that bill or ubi works check out their website and see what's going on there regarding that proposal of universal basic income or a guaranteed basic income basically if your income is under a certain threshold you'll receive a certain amount under from the government to help kind of push you up towards a certain income amount so everyone has at least a basic income amount and for the current proposal i believe it was 24 000 in terms of the crb canada recovery benefit we'll see what happens in terms of an extension or whatnot but as of right now it's october 23rd i haven't heard any rumblings of an extension yet i'm sure they'll do it last minute in typical canadian government fashion so we'll see what happens in the upcoming weeks but as of right now it's october 23rd another big thing is people transitioning off of ei so if your ei has been exhausted you can look to the canada recovery benefit as a way to continue to receive money you're going to want to go back and check out my previous videos on the eligibility requirements for the crb so if you've exhausted your crb and you qualify for the benefit you meet all the requirements you now can apply for the canada recovery benefit if this is your first week or weeks applying you don't have the full 27 eligibility periods to apply for you just have the remaining ones up until you know october 23rd 2021 and depending on when you start you'll receive either a thousand dollars or six hundred dollars with some taxes withheld for a two-week period if you're applying for your first one now you'll receive the 600 crb but if you apply and you you were eligible for ei chances are you'll be eligible for the crb as well just double check the requirements on the canada website you'll be able to get that until october 23rd check if you're eligible for previous periods as you can apply retroactively 60 days pro 60 days after an eligibility period has come to an end but we'll see what happens going forward i was a little bit disappointed on personally on the outcome of the election mainly because we went through all that during a pandemic and it was the price that it was it was 600 million dollars to run that election and nothing really changed very minor changes so we're still in the same boat and we'll see what happens with our recovery plan going forward i think we might be heading backwards in terms of more lockdowns so i think that these recovery benefits are going to be lasting a little bit longer and there's going to be some new rules regarding the eligibility requirements and the length of these as well we might also see an increase in crb after a while as well if there's going to be more lockdowns who knows but as of right now there's no real changes i will let you guys know uh if there's any more changes in the near future so you're going to want to subscribe and stay tuned give this video a thumbs up if you appreciate these sort of videos and i will be back to explain the crb as things come along especially as the next eligibility period comes up we'll give you guys an update and we'll be tuning in to what's happening regarding the end of the crb again that's october 23rd so we'll keep our ears on the ground uh regarding that so if you have any questions put them in the comments below let me know your thoughts on the election and i will see you guys in the next video i'm nick from knicks taxes and as always happy taxing

Channel: Nick’s Taxes

Views: 2,284

Rating: 4.9686275 out of 5

Keywords: CRB update, CRB eligibility, Nicks Taxes, Canada recovery benefit, Canada recovery benefit update, Justin Trudeau, Canada politics, CERB update, CRB end

Id: FOPgdhHCpKc

Length: 8min 29sec (509 seconds)

Published: Mon Oct 04 2021