The Covid-19 pandemic brought financial hardship to millions of Canadian residents and they sought the support of government benefits. People who received COVID-19 emergency or recovery benefit payments in 2021 ask these 5 questions during this tax season; 1. Will the COVID-19 benefit payments affect my 2021 taxes? YES. If
Tag Archives: Canada Revenue Agency
Did you know…… you can make income tax payments in installments!? If you owe taxes to the government, the Canada Revenue Agency (CRA) will work with you to make a payment plan that works for you. Because of the financial hardships people are dealing with because of COVID-19, the CRA
Taxes are to be filed by today, April 30th, 2021. If you have missed filing your taxes on time, you can still file…but do so as soon as possible to avoid potential penalties. Here are some things to know: If you owe taxes because of COVID-19 related benefits, the Canada
#FinancialFridays: Did you receive pandemic benefits? You may qualify for a payment plan with CRA. Find out more here.
Canadians who received pandemic benefits will have up to 1 year to pay back any debt from those benefits without interest. This applies to Canadians who made up to $75,000 in taxable income in 2020 and received one of the federal government’s five pandemic relief benefits or employment insurance benefits:
How do the COVID-19 benefits impact your income tax return? If you received the Canada Emergency Response Benefit (CERB), Canada Emergency Student Benefit (CESB), Canada Recovery Benefit (CRB), Canada Recovery Sickness Benefit (CRSB), or Canada Recovery Caregiving Benefit (CRCB) payments, these are considered taxable income, and you will have to
#FinancialFridays: Have you received CERB payments when you were not eligible or you became ineligible after applying?
Have you received a CERB payment during the Covid pandemic? There are some people who may have applied for and received CERB when they were not eligible or became ineligible after applying. It is important for the public to know that the government is asking those who received CERB in