CERB Update - Do these BEFORE 2021

Todays update on the CERB - Canada Emergency Response Benefit - Do these things now before the end of the year!
1. Check before Dec. if you qualify for a retroactive CERB payment
Canada Emergency Response Benefit (CERB)
Even though the CERB has ended, the CRA is continuing to accept and process retroactive applications until December 2, 2020.

Periods 5 to 7: You can apply through the CRA’s My Account or automated toll-free phone line at 1-800-959-2019 or 1-800-959-2041.
Periods 1 to 4: You can apply by speaking to one of our agents at 1-800-232-1966. Please note that you may be required to provide additional documentation to the CRA prior to your application being approved.
New Recovery Benefits

The new Recovery Benefits are available between September 27, 2020 and September 25, 2021.

The CRA will open applications for the Canada Recovery Sickness Benefit and the Canada Recovery Caregiving Benefit on October 5 and for the Canada Recovery Benefit on October 12.

2. Repay any CERB payment you received but were not entitled to.
You may want to return or be required to repay the CERB to the department (CRA or Service Canada) that issued you the CERB payment if you:

return to work earlier than expected, including being paid retroactively
applied for CERB but later realize you are not eligible
Return or repay the CERB to the CRA if you

applied for and received the CERB from CRA and Service Canada for the same eligibility period
Information slip issuance
Since the CERB is taxable, you can expect to receive an information slip indicating the total amounts of CERB payments you received in 2020.

However, if you repay all or a portion of the CERB payments you received, regardless of the reason, your account will be adjusted accordingly. You will not receive an information slip for the payment(s) that have been returned prior to December 31, 2020.
https://www.canada.ca/en/services/benefits/ei/cerb-application/return-or-repay.html

3. Estimate out your CRB and or CERB taxes.
CRB and CERB are TAXABLE BENEFITS - meaning you are responsible for the tax on the CERB and CRB payments that you receive
Watch here how to estimate your taxes - https://youtu.be/1iEiWMylX0U
tax calculator - https://simpletax.ca/calculator

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