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

ETF stands for Exchange Traded Fund
Dividend Stocks

Is the Average TFSA and RRSP Enough at Age 65?

Feeling behind at 65? Here’s a simple ETF mix that can turn okay savings into dependable retirement income.

Read more »

Piggy bank wrapped in Christmas string lights
Retirement

TFSA Investors: What to Know About New CRA Limits

New TFSA room is coming. Here’s how to use 2026’s $7,000 limit and two ETFs to turn tax-free space into…

Read more »

A worker drinks out of a mug in an office.
Dividend Stocks

3 No-Brainer TSX Stocks to Buy With $300

A small cash outlay today can grow substantially in 2026 if invested in three high-growth TSX stocks.

Read more »

Oil industry worker works in oilfield
Energy Stocks

Outlook for Enbridge Stock in 2026

Enbridge will likely continue to benefit from strong momentum in all of its businesses, leading to a bullish outlook for…

Read more »

dividend growth for passive income
Dividend Stocks

5 of the Best TSX Dividend Stocks to Buy Under $100

These under $100 TSX dividend stocks have been paying and increasing their dividends for decades. Moreover, they have sustainable payouts.

Read more »

cautious investors might like investing in stable dividend stocks
Stocks for Beginners

Where Will Dollarama Stock Be in 3 Years?

As its store network grows across continents, Dollarama stock could be gearing up for an even stronger three-year run than…

Read more »

shopper pushes cart through grocery store
Dividend Stocks

2 Dead-Simple Canadian Stocks to Buy With $1,000 Right Now

Two dead-simple Canadian stocks can turn $1,000 in idle cash into an income-generating asset.

Read more »

ETF is short for exchange traded fund, a popular investment choice for Canadians
Stock Market

3 Reasons VFV Is a Must-Buy for Long-Term Investors

Looking for a simple yet powerful way to grow your wealth over time? VFV might be the ETF your portfolio…

Read more »