Financial Advice and Offers

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Physician Financial Independence Group Facebook, Canada wideFacebook group made up of physicians and their spouses. Discuss key financial decisions including personal, business, investments, education funds, insurances, and more.
CMA: Financial Guidance for physicians during Covid-19CanadaSummary of the different wage subsidy and loan programs and how they apply to a medical practice and corporation.
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Canada Student Loans (CANADA)CanadaAll student loan borrowers will automatically have their loan repayments and interest suspended until September 2020.
Canada Child Care Benefit (CANADA)CanadaProviding up to an extra $300/child through the Canada Child Benefit (CCB) for 2019-2020. Those who already receive the CCB do not need to re-apply.
Childcare Support (ONTARIO)CanadaOne time extra $200 for children aged 0-12 or $250 for children/youth aged 0-21 with special needs. Funding offered to offset the cost of buying materials to support their children's learning, while they practice self-isolation and physical distancing.
Taxes (CANADA)CanadaThe filing due date for 2019 income tax returns for individuals has been deferred until June 1, 2020. Any new income tax balances due, or instalments, are also being deferred until after August 31, 2020 without incurring interest or penalties
Mortgage (CANADA)CanadaContact your bank for possible mortgage payment deferral (up to 6 months)
BC Hydro Relief Fund (BC)British ColumbiaIf you or your spouse/partner have stopped working due to COVID-19, you may be eligible for three months of bill credit based on your average consumption. If not eligible, there are options to defer your payments or to arrange a payment plan.
Other discountsCanadaCheck with your bank about other financial relief options including deferring credit card payments, increasing lines of credit, and waiving other fees.
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Canada Emergency Wage Subsidy (CEWS) (CANADA)CanadaProvides a 75% wage subsidy to eligible employers for up to 12 weeks, retroactive to March 15, 2020
Temporary 10% Wage Subsidy (CANADA)CanadaThree-month measure that will allow eligible employers to reduce the amount of payroll deductions required to be remitted to the Canada Revenue Agency (CRA).
Canada Emergency Business Account (CEBA) Business Loan Program (CANADA)Canada $40,000 loan for a Canadian registered business. Interest rate is 0% and no minimum monthly principal payments until December 31, 2022. If repaid prior to December 31, 2022, 25% of the amount loaned under the CERB is forgiven up to $10,000. Contact your business' financial institution for more information.
BC Hydro Relief Fund (BC) - Small BusinessBritish ColumbiaIf you own a small business that needed to close due to COVID-19 measures, you may be eligible to have your business' electricity use charges waived for up to three months.
Other discountsCanadaCheck with your bank about other financial relief options including deferring credit card payments, increasing lines of credit, and waiving other fees.
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GSC Health Assist CAEP MembersCAEP members are eligible for a group discount on life insurance through member benefits.
Group PlansMedical Students, Residents, StaffProvincial medical associationContact your provincial medical association. Various discounts offered depending on provincial medical association. Expediting applications and no medicals, including staff depending on provincial medical association.
Individual PlansMedical Students, Residents, StaffBroker (National) - Mark Levine.
Email: mark@integratedfs.ca
Phone: 416-850-2423
No medical or in person meeting. Offering simplified application and expedited underwriting. Ages 18-40 up to 2 million, Ages 41-69 up to 1 million, Ages 70 plus up to 500k.
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Group & Individual PlansMedical Students, ResidentsProvincial medical associationContact your provincial medical association. Various discounts offered depending on provincial medical association. Expediting applications and no medicals.
Individual PlansMedical Students, ResidentsBroker (National) - Mark Levine.
Email: mark@integratedfs.ca
Phone: 416-850-2423
RBC currently offering a special discount, including no medical, and 12 months free for medical students, 5 months free for medical residents. Coverage up to 4500/month.
Group & Individual PlansStaff Physician,Provincial medical associationContact your provincial medical association. Various discounts offered depending on provincial medical association. Expediting applications and limiting medicals with some provincial medical association group plans and individual plans.
Individual PlansStaff Physician,Broker (National) - Mark Levine.
Email: mark@integratedfs.ca
Phone: 416-850-2423
Insurance still being offered despite pandemic risk. No medical or in person meeting. Simplified application and expedited underwriting. Includes own occupation.
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the Co-operatorsCAEP MembersCAEP members are eligible for a group discount on Home and Auto Insurance through member benefits.
OMA: The Personal Auto InsuranceOntarioAuto insurance discount offered for three months. Call in to discuss. Need to apply before May 31, 2020. Call 1-877-277-7156 for more information.
OMA: The Personal Home InsuranceOntarioOpen to discussion about delaying payments, no interest will be charged in the interim. Automatic free increase home liability coverage worth extra 10k if working from home. Call 1-877-277-7156 for more information. Scroll to bottom of webpage.
OtherCanadaContact your auto and home insurance. Many of them are offering similar discounts to the ones above.
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Willful(BC, Alberta, Sask, Manitoba, Ontario, New Brunswick, Nova Scotia)Offering a free basic will under the premium plan for a HCW, and it includes a personal will and POA documents, setting up an executor, guardianship and a carry on business clause. Fill out online form and promo code will be sent within 24 hours and prior to paying. You can add a partner and upgrade to a couple's plan for $100. Apply promo code at checkout and select couple's plan. Will is created same day once information is inputted online but will need to be witnessed to become valid.
COVID-19 Legal HelpOntarioOffering a free basic will and POA documents for all HCW during the COVID-19 pandemic. It does not include estate planning or corporate wills. Complete the online intake form and then contact Pro Bono Ontario at 1-888-915-5912.
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Taxes (Personal)CanadaThe filing due date for 2019 income tax returns for individuals has been deferred until June 1, 2020. Any new income tax balances due, or instalments, are also being deferred until after August 31, 2020 without incurring interest or penalties
Chartered Professional Accountants (CPA)OntarioFree personal taxes for HCW. The program will cover basic individual, spousal and dependent children’s tax returns. This program does not include more complex tax returns, such as those involving self-employment income or employment expenses, business or rental income and expenses, or foreign property (T1135). The program will be accepting applications until May 15, 2020.
Chartered Professional Accountants (CPA)ManitobaFree personal taxes for HCW. The program will cover basic individual, spousal and dependent children’s tax returns. This program does not include more complex tax returns, such as those involving self-employment income or employment expenses, business or rental income and expenses, or foreign property (T1135). The program will be accepting applications until May 15, 2020.
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