If you received CERB or CESB, these benefits did not have taxes withheld at source. You will have to pay back the CRA for the amount not withheld at source.
Eligibility
You will need all the following in order to be eligible for the interest relief:
- Your income was $75,000 or less.
- You received at least one of the following benefits:
- Canada Emergency Response Benefit (CERB)
- Canada Emergency Student Benefit (CESB)
- Canada Recovery Benefit (CRB)
- Canada Recovery Caregiving Benefit (CRCB)
- Canada Recovery Sickness Benefit (CRSB)
- Employment Insurance (EI) benefits
- Provincial or territorial emergency benefits
- You filed your 2020 income taxes.
The CRA will then automatically apply the interest relief on your 2020 taxes owing. This means you will not have to pay interest on any amount owing for 2020 until April 30,2022.
References & Resources
- CRA: Interest relief if you received COVID-19 benefits
- TurboTax: CERB Repayment Announcement
- TurboTax: COVID & Tax Information