Canada Emergency Response Benefit at tax time

• If you received emergency or recovery benefits from the CRA in 2020, you will receive a T4A slip. You must report these amounts on your 2020 income tax and benefits return.

• If you received the CERB or CESB, no tax was withheld when payments were issued. You may owe this tax when filing your 2020 tax return.

• If a person worked to earn $5,000 or more during the year prior to the pandemic, and subsequently lost their job or were without work during the pandemic, they likely qualified for the CERB.

• For many, CERB represented up to $14,000 across the 28 weeks the benefit was available. • As of December, there were nine million applied for and received these CERB benefits.

• Individuals who received CERB payment were issued TFA statements from Revenue Canadian Jan. 12.

• Some individuals also applied for the CERB through Service Canada and those individuals will get a TFE slip which may show CERB payments and EI payments.

OTHER BENEFITS

• Canada Recovery Benefit, the Canada Recovery Sickness Benefit and the Canada Recovery Caregiving Benefit.

• For these three 10 per cent was withheld by Revenue Canada.

• A T4A slip that will show the benefit you received and the fact that some tax was withheld.

WORK FROM HOME CREDITS

• $400 if you worked from home for four consecutive weeks in 2020 and worked at least 50 per cent during those weeks.

• Part of your cellphone plan.

• Portion of your internet fees,

• 10 per cent of rent as well as utilities.

• Minor repairs to home workspaces.

• If you are working on commission, claim the least cost of your computer or the least cost of a fax machine.

STUDENTS

Canada Emergency Student Benefits:

• Paid to students enrolled in school but maybe not able to find that part-time job.

• 10 per cent tax was deducted but it is still taxable income.

• They can claim their tuition credits. *Source Revenue Canada & H&R Block