The Canada Revenue Agency advises that if you received one of the federal government’s benefits related to COVID-19 last year, you may have to pay some of it back in taxes.
Saskatchewan spokesperson, Joanne De Waal, says no tax was withheld for CERB, which is the Canada Emergency Recovery Benefit, or from the Emergency Student Benefit.
Ten percent was withheld for the Canada Recovery Benefit, the Recovery Sickness Benefit or the Caregiver Benefit.
Depending on your finances for 2020, you may owe some money.
If it’s a financial hardship, De Waal says, the payment parameters have been expanded this year based on each taxpayer’s situation.
The CRA has begun sending out the T4A and T4E slips, which you should receive by mid-March.
(CJWW)
