CERB Payments and Tax Implications

Do you know that the Canada Emergency Relief Benefit (CERB) payments provided by the Canadian Government are taxable? Have you thought about the impact on your taxes next April?

We can review your income statements to start the preparation for your 2020 tax return

An interesting write up was done about the tax implications by Craig Wong for CTV news. See link below

https://www.ctvnews.ca/business/cerb-recipients-should-be-prepared-to-pay-income-tax-on-payments-experts-say-1.5205559#:~:text=If%20you%20received%20CERB%20benefits,a%20maximum%20amount%20of%20%2414%2C000.

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