With tax season quickly approaching, it’s important to include your COVID-19 benefits from the government during 2020 in your return. Local Accountant Christopher Carroll says for those who did receive CERB payments, you can expect to get a slip from the government with how much you were given.
Luckily, other emergency benefits like the Canada Recovery Benefit, Canada Recovery Sickness Benefit, and Canada Recovery Caregiving Benefit — were all taxed 10 per cent at the source. Also, if you continued to make RRSP contributions even if you were on benefit payments, that will help offset your income tax.
