CRA Has a New Requirement for CRB Applicants!

The next time you apply for CRB you may notice a new question relating to travel.

If you’re collecting Canada Recovery Benefits (CRB) or other types of COVID-19 related aid, you might soon see a new question come up when you apply for a future period. For any claims after January 3, applicants will need to confirm whether they’ve been in quarantine as a result of travelling abroad. And Employment Minister Carla Qualtrough plans to table legislation later this month stating that if people are returning from non-essential travel, they will not be eligible for COVID-19 benefits while they were in quarantine.

As for what type of travel is non-permissible, the Government of Canada states, “people returning from vacation, visiting loved ones, and attending to real estate matters abroad, will not be eligible to receive support from any of the Canada Recovery Benefits for the period of their mandatory quarantine.”

Non-essential travel has come under the spotlight in recent weeks after politicians were caught traveling even as they were encouraging people to stay home. And with COVID-19 cases on the rise in recent months, there’s growing pressure to keep people home in order to bring those numbers down. Adding this restriction for COVID-19 benefits certainly helps discourage unnecessary travel without adversely impacting those who still need financial help.

Canadians need to plan for life post-CRB

While the government is still helping Canadians with CRB and other benefits, the reality is that aid won’t last forever. Currently, CRB is slated to end on September 25. The government previously extended the benefits period for the Canada Emergency Response Benefit. However, things are looking more promising this year as the bulk of the population will likely be vaccinated by the end of September.

That could a long way in helping the economy get back to normal. If that happens, the government would have plenty of incentive to phase out the benefits, perhaps limiting them to those in most need.

But there is no telling how that will all play out, which is why it’s important for people who rely on CRB to consider looking ahead and preparing for when the benefits will end. That could include upgrading skills, possibly changing careers, or picking up some work on the side to help make ends meet. There’s still lots of time to figure all that out and the sooner people do that, the better off that they’ll be in the long run.

If you are able to save money — start putting it into your TFSA

Another way to improve your financial position is to put aside any money you can afford to into a Tax-Free Savings Account (TFSA). Every little bit counts and slowly building up your TFSA balance can help you grow your savings over the long term by using it to invest in safe, exchange-traded funds that you won’t have to worry about. The big advantage of a TFSA is that any dividend income or capital gains that you earn inside the account won’t be taxable.

Even if you can’t afford to contribute to a TFSA today, it’s a good goal to have and a habit that you’re better off starting sooner rather than later.

Fool contributor David Jagielski has no position in any of the stocks mentioned.

More on Investing

telehealth stocks
Dividend Stocks

This TSX Stock Pays a 4.3% Dividend Every Single Month

This TSX stock pays you cash every single month – and it’s backed by a growing, essential business.

Read more »

Digital background depicting innovative technologies in (AI) artificial systems, neural interfaces and internet machine learning technologies
Stocks for Beginners

This Stellar Canadian Stock Is Up 497% This Past Year and There’s More Growth Ahead

This under-the-radar Canadian stock has surged nearly 500% in 12 months – and its growth story may just be getting…

Read more »

3 colorful arrows racing straight up on a black background.
Dividend Stocks

2 Great Warren Buffett Stocks to Buy Before They Raise Their Dividends Again

If you want to invest like Warren Buffett, these two top Canadian dividend stocks are some of the best picks…

Read more »

woman gazes forward out window to future
Metals and Mining Stocks

A Cheap, Safe Dividend Stock That Retirees Should Know About

Thor Explorations pays growing dividends, holds $137 million in cash, and is building a second mine. Here's why retirees should…

Read more »

heavy construction machines needed for infrastructure buildout
Investing

Canada’s Planned Infrastructure Boom: The Time to Invest Is Now

Brookfield Infrastructure Partners (TSX:BIP.UN) is a great vehicle in which to play the Canadian infrastructure boom.

Read more »

rising arrow with flames
Energy Stocks

A Canadian Energy Stock Ready to Bring the Heat in 2026

Even before oil prices began surging, this Canadian energy stock was a top pick for dividend investors in 2026.

Read more »

Map of Canada with city lights illuminated
Dividend Stocks

A Dirt-Cheap Canadian Dividend Growth Stock Built for the Long Haul

A dirt‑cheap Canadian dividend growth stock offering stability, steady income, and reliable annual payout increases for long‑term investors.

Read more »

golden sunset in crude oil refinery with pipeline system
Energy Stocks

Canada Is an Oil Exporter: Are You Investing Like One?

Suncor Energy (TSX:SU) might be overbought in an oversold market, but there is a case for buying.

Read more »