When the Covid-19 pandemic closed schools last spring, crosswalk guard and recent graduate Danny Thomson was encouraged by the Ottawa Safety Council to apply for the new Covid-19 emergency benefits.
But even though Thomson returned $3,000 in Canada Emergency Response Benefits last year after he realized he was ineligible, their tax slip from the Canada Revenue Agency says $2,000 has not been repaid. The amount is considered taxable income for 2020.
Original Article Source Credits: Advisor’s Edge , https://www.advisor.ca/
Article Written By: Anita Balakrishnan, The Canadian Press
Original Article Posted on: March 3, 2021
Link to Original Article: https://www.advisor.ca/news/industry-news/tips-for-taxpayers-with-repaid-cerb-error-on-tax-slips/