Tips for taxpayers with repaid CERB error on tax slips

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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.

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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/

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