Provincial Government Announces COVID-19 Income Support Fund
The Prince Edward Island COVID-19 Income Support Fund provides financial support to residents of Prince Edward Island to bridge the gap between the loss of their job/lay-off, loss of their primary source of income, Employment Insurance benefits have expired or loss of all revenues through self-employment as a result of COVID-19. This emergency income fund is a one-time lump sum payment of $750 from the Government of Prince Edward Island. This emergency income is taxable.
Who is Eligible to Participate?
The Prince Edward Island COVID-19 Income Support Fund is a temporary program designed to provide financial support to individuals who meet the following criteria:
MINIMUM ELIGIBILITY CRITERIA
- an individual who has lost their job/laid off on or after March 13, 2020 due to the public health state of emergency in Prince Edward Island; or
- an individual whose Employment Insurance (EI) benefits have expired and they have no job to return to due to the public health state of emergency in Prince Edward Island; or
- a self-employed individual who has lost all revenues through self-employment on or after March 13, 2020 due to the public health state of emergency in Prince Edward Island and has not already accessed the Emergency Income Relief for the Self-Employed; and
- have applied (or plan to apply) for support through the Federal government (either Employment Insurance Benefits or the Canada Emergency Response Benefit)
ADDITIONAL REQUIRED ELIGIBILITY CRITERIA
- earned a minimum of $5,000 (gross) earnings in the last 12 months or in the last calendar year;
- lost their primary source of income;
- is 18 years of age or older;
- is a resident of Prince Edward Island for tax purposes as of December 31, 2019.
How does the Program Work?
Eligible individuals who meet the program criteria will receive the following:
- A one-time lump sum payment of $750 effective March 13, 2020 – April 30, 2020 (Taxable Income)
- Only one application per eligible individual
Eligible individuals must keep supporting documents proving their eligibility for the program for a period of three (3) years following approval to the program for audit and compliance purposes.
How do I Apply?
Eligible individuals must complete the online application form.
To assess your application, we will need:
- Completed PEI COVID-19 Income Support Fund online application form with
- Social Insurance Number (SIN)
- Banking Information
- Void cheque (file size must be 400KB or less); and
- Financial institutional number, branch transit number, and account number
- Employment information
Please be advised, approved applications may take up to 5 business days before receipt of payment.
When is the deadline for Applications?
Online applications can be submitted until April 30, 2020.
Visit Government of Prince Edward Island for further details and to apply.
