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The nuances of CERB are becoming clearer with time – The Globe and Mail



Times are tough during this pandemic. People around the world are trying their darndest to earn or find the money they need to, well, live life. Alex Masmej, a 23-year-old Parisian came up with a unique idea: He sold shares in himself (actually, he sold “tokens” in himself, called $ALEX), raising about US$20,000 from 30 investors. The investors will receive a share of any money he makes in the next three years, up to a maximum of $100,000. Mr. Masmej has agreed to promote the investors through social media and – get this – they can also vote on some of his life decisions.

Others have taken a simpler approach to finding the money to help make ends meet, like applying for the Canada Emergency Response Benefit. Since the launch of the CERB almost four months ago, there have been many questions about eligibility and the nuances of the benefit, so today I want to share an update for you.

Extension of time limits

The first thing worth pointing out is that the CERB program has been extended so that it will now provide benefits of $500 a week for up to 24 weeks, up from the previous 16 weeks. The benefit is available from March 15 to Oct. 3. You can apply up to Dec. 2 for retroactive payments within the period I’ve mentioned. So, if you qualify for the CERB for prior weeks and haven’t applied yet, you can still do that.

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Income requirements

To qualify, you’ll still need to have earned $5,000 or more in employment or self-employment income in 2019 or in the 12 months leading up to your application. The Canada Revenue Agency has said, however, that it’s not a requirement that you filed a tax return for 2019 to qualify, but you’ll need to show that you meet the $5,000 test if the taxman comes asking. CRA also confirmed that tips, honoraria (such as nominal amounts paid to emergency service volunteers), royalties (for example, paid to artists) and non-eligible dividends paid by a corporation to a shareholder will all qualify toward the $5,000 requirement.

Income limits

When submitting your first claim for the CERB, you’re not able to earn more than $1,000 in employment or self-employment income for a period of at least 14 or more consecutive days within the first four-week benefit period. For subsequent claims, you’ll be limited to $1,000 of earned income for the entire four-week benefit period of the new claim. The taxman has confirmed that you’re entitled to earn income in excess of $1,000 in a four-week period provided it’s not employment or self-employment income. You could, for example, receive passive investment income without jeopardizing the CERB benefit.

Twenty-four week period

How is the 24-week period calculated? Does it start when you apply for the CERB or when you receive your first payment? The answer is neither. The 24-week period begins with the first week for which you are receiving the CERB (and that may be different from the date of your first payment if you’re applying retroactively). By the way, the 24 weeks don’t have to be taken consecutively. You could, for example, receive the benefit for the four weeks starting March 15 and reapply for another benefit a few months later. Keep in mind, however, that the 24-week count doesn’t restart all over again when you reapply after taking a break.

Employment insurance integration

Sorry, but you can’t claim EI benefits and the CERB for the same weeks. But you may be entitled to the CERB if you’re a former EI claimant who has used up your entitlement to EI benefits between Dec. 29, 2019 and Oct. 3, 2020, and are unable to find work because of the pandemic.

Voluntary layoffs

While you won’t qualify for the CERB if you voluntarily quit your job, you will qualify if you volunteer to be temporarily laid off to help your employer through the financial challenges faced owing to COVID-19.

Receipt of severance

If you happen to receive a severance payment during this pandemic, the amount of the severance won’t count toward the $1,000 income limit that could cause you to lose your CERB benefit.

Student working part-time

If you’re a student who has been working part-time during the school year, or this summer, and you’ve lost your job because of COVID-19, you’ll qualify for the CERB (which is more generous than the Canada Emergency Student Benefit) provided you meet the income requirements and limits I mentioned earlier.

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Pension income

You can earn pension income while collecting the CERB, and this income won’t count as earned income toward the $1,000 limit I spoke about earlier. Nor will pension income count as part of the $5,000 of earned income you’ll need to qualify for the CERB.

Tim Cestnick, FCPA, FCA, CPA(IL), CFP, TEP, is an author, and co-founder and CEO of Our Family Office Inc. He can be reached at

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Moderna chairman says Canada near front of line for 20 million COVID-19 vaccine doses – CP24 Toronto's Breaking News



Mike Blanchfield, The Canadian Press

Published Sunday, November 29, 2020 1:52PM EST

Last Updated Sunday, November 29, 2020 3:00PM EST

OTTAWA – Conservative Leader Erin O’Toole accused the Liberal government Sunday of putting too much emphasis on partnering with a Chinese company for a COVID-19 vaccine in what turned out to be a failed deal.

O’Toole said the Trudeau government only turned its attention to pre-ordering tens of millions of vaccine doses from companies such as Pfizer and Moderna in August when its collaboration between the National Research Council and Chinese vaccine-maker CanSino finally collapsed after months of delays.

The Council had issued CanSino a licence to use a Canadian biological product as part of a COVID-19 vaccine. CanSino was supposed to provide samples of the vaccine for clinical trials at the Canadian Centre for Vaccinology at Dalhousie University, but the Chinese government blocked the shipments.

“I would not have put all our eggs in the basket of China,” O’Toole said at a morning news conference.

“If you look at the timeline, that’s when Canada started getting serious with Pfizer, Moderna, the other options,” he added, saying he was concerned that “the Trudeau government was willing to almost double down on partnering with China” earlier in the pandemic.

The government announced its major vaccine purchases in August after it confirmed the CanSino partnership had fallen through. At the time, it said its decision had come after careful consultations with its vaccine task force of health experts.

The CanSino partnership with Dalhousie predated the deep freeze in Canada-China relations that occurred after the People’s Republic imprisoned two Canadian men, Michael Kovrig and Michael Spavor, in apparent retaliation for the RCMP’s arrest of Chinese high-tech executive Meng Wanzhou nearly two years ago on an American extradition warrant.

This past week, Prime Minister Justin Trudeau created a firestorm when he said Canadians will have to wait a bit to get vaccinated for COVID-19 because the first doses off the production lines will be used in the countries where they are made.

As questions grew about the CanSino deal, Trudeau continued to defend his government’s vaccine procurement policy, which he says has secured multiple options for the country. Trudeau also appointed a Canadian Forces general to lead the logistics of an eventual vaccine rollout with the Public Health Agency of Canada.

The chairman of American vaccine maker Moderna told the CBC on Sunday that Canada is near the front of the line to receive 20 million doses of the COVID-19 vaccine it pre-ordered.

Noubar Afeyan was asked on CBC’s Rosemary Barton Live whether the fact that Canada committed to pre-purchase its doses before other jurisdictions means it will get its supply first. Afeyan confirmed that was the case.

“The people who are willing to move early on with even less proof of the efficacy have assured the amount of supply they were willing to sign up to,” he said.

O’Toole said with Finance Minister Chrystia Freeland poised to deliver the government’s long-awaited fiscal update on Monday, the Liberals need to do two things to spur economic recovery: offer a better plan on how it will rollout vaccines for Canadians and step up the distribution of rapid tests.

“There can’t be a full economy, a growing economy, people working, people being productive without the tools to keep that happening in a pandemic. Those two tools are rapid tests, and a vaccine.”

Freeland’s fall economic statement is expected to give a full accounting of the government’s record spending on programs to combat the pandemic. In July, the deficit was forecast to be at a record $343.2 billion but some estimates say it could easily top $400 billion.

The government could announce new spending such as taking steps towards a national child-care system, and relief for battered industries such as travel and restaurants that will face an uphill struggle to recover from the pandemic.

NDP finance critic Peter Julien sent Freeland a three-page letter urging her to take action on a variety of fronts to help struggling Canadian families during the pandemic.

They included taking concrete action on establishing a national pharmacare plan to help Canadians pay for soaring prescription drug costs, and establish a national day-care strategy to help women who have been disproportionately hindered by the pandemic. Julien also urged Freeland to help Indigenous communities and abandon the government’s plans to pay for the Trans-Mountain Pipeline and ramp up its fight against climate change.

Green party Leader Annamie Paul called on Freeland to deliver “a positive vision for a green recovery” to accelerate Canada’s transition to a carbon-neutral economy.

“We are optimistic that a vaccine for COVID-19 will be widely available next year and so we must be prepared for what comes next,” Paul said in a statement.

This report by The Canadian Press was first published Nov. 29, 2020.

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Moderna chairman says Canada near front of line for 20M vaccine doses – 680 News



The chairman of American vaccine maker Moderna says Canada is near the front of the line to receive 20 million doses of the COVID-19 vaccine it pre-ordered.

Noubar Afeyan offered that assessment today in an interview with CBC’s Rosemary Barton Live.

Afeyan’s remarks come as the Trudeau government has come under fire this past week for its ability to deliver a timely vaccine to Canadians.

Prime Minister Justin Trudeau created a firestorm when he said Canadians will have to wait a bit to get vaccinated for COVID-19 because the first doses off the production lines will be used in the countries where they are made.

Afeyan was asked whether the fact that Canada committed to pre-purchase its doses before other jurisdictions means it will get its supply first.

Afeyan confirmed that was the case.

“The people who are willing to move early on with even less proof of the efficacy have assured the amount of supply they were willing to sign up to,” he said.

“In the case of Canada, that number is about 20 million doses. But the Canadian government, like others, have also reserved the ability to increase that amount. And those discussions are ongoing,” he added.

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Shares take a breather after stellar month, China data upbeat –



SYDNEY (Reuters) – World shares paused to assess a record-busting month on Monday as the prospect of a vaccine-driven economic recovery next year and yet more free money from central banks eclipsed immediate concerns about the coronavirus pandemic.

FILE PHOTO: Passersby wearing protective face masks are reflected on a stock quotation board outside a brokerage, in Tokyo, Japan November 10, 2020. REUTERS/Issei Kato

Helping sentiment was a survey showing factory activity in China handily beat forecasts in November, and the country’s central bank surprised with a helping of cheap loans. That left blue chips up 1.3% on the day and 7.4% for the month.

The rush to risk has also benefited oil and industrial commodities while undermining the safe-haven dollar and gold.

“November looks set to be an awesome month for equity investors with Europe leading the charge at a country/regional level,” said NAB analyst Rodrigo Catril.

Many European bourses are boasting their best month ever with France up 21% and Italy almost 26%. The MSCI measure of world stocks is up 13% for November so far, while the S&P 500 has climbed 11% to all-time peaks.

Early Monday, MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.4%, to be up almost 11% for the month in its best performance since late 2011.

Japan’s Nikkei 225 eased 0.4%, but was still 15.4% higher on the month for the largest rise since 1994.

E-Mini futures for the S&P 500 dipped 0.4%, and EUROSTOXX 50 futures 0.6%.

“Markets are overbought and at risk of a short term pause,” said Shane Oliver, head of investment strategy at AMP Capital.

“However, we are now in a seasonally strong time of year and investors are yet to fully discount the potential for a very strong recovery next year in growth and profits as stimulus combines with vaccines.”

Cyclical recovery shares including resources, industrials and financials were likely to be relative outperformers, he added.

The surge in stocks has put some competitive pressure on safe-haven bonds but much of that has been cushioned by expectations of more asset buying by central banks.

Sweden’s Riksbank surprised last week by expanding its bond purchase program and the European Central Bank is likely to follow in December.


Federal Reserve Chair Jerome Powell testifies to Congress on Tuesday amid speculation of further policy action at its next meeting in mid-December.

As a result U.S. 10-year yields are ending the month almost exactly where they started at 0.84%, a solid performance given the exuberance in equities.

The U.S. dollar has not been as lucky.

“The idea that a potential Treasury Secretary (Janet) Yellen and Fed chair Powell could work more closely to shape and coordinate super easy monetary policy and massive fiscal stimulus that could drive a rapid post pandemic recovery saw the dollar under pressure,” said Robert Rennie, head of financial market strategy at Westpac.

Against a basket of currencies, the dollar index was pinned at 91.771 having shed 2.4% for the month to lows last seen in mid-2018.

The euro has caught a tailwind from the relative outperformance of European stocks and climbed 2.7% for the month so far to reach $1.1967. A break of the September peak at $1.2011 would open the way to a 2018 top at $1.2555.

The dollar has even declined against the Japanese yen, a safe-haven of its own, losing 0.7% in November to reach 103.89 yen, though it remains well above key support at 103.16.

Sterling stood at $1.3334, having climbed steadily this month to its highest since September, as investors wagered a Brexit deal would be brokered even as the deadline for talks loomed ever larger.

One major casualty of the rush to risk has been gold, which was near a five-month trough at $1,771 an ounce having shed 5.6% so far in November.

Oil, in contrast, has benefited from the prospect of a demand revival should the vaccines allow travel and transport to resume next year. [O/R]

Some profit-taking set in early Monday ahead of an OPEC+ meeting to decide whether the producers’ group will extend large output cuts. Brent crude futures fell 52 cents to $47.66, while U.S. crude eased 60 cents to $44.93 a barrel.

Editing by Lincoln Feast & Simon Cameron-Moore

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