CERB Recipients – Great News For You!
Posted On: 26/02/21 - 0

Recent CRA Announcement

Many of you personal tax clients recently received letters in the mail from the CRA.  A vast majority of you CERB recipients were deemed ineligible for the CERB payments they received.  Although, taxpayers  said this has been the toughest year ever for them.  And that you simply didn’t have the money to repay the government.

Great news! The CRA just announced that they are reversing their decision on those CERB repayments.

CERB And The Self-Employed

Be advised that the CRA will not be allowing self-employed persons to now make an application with this recent news. This applies to those who did not originally apply for the Covid support because their NET earnings were under $5 000.

What Happens If You Already Paid CERB Back?

For those of you who were under the $5 000 threshold and managed to repay the CERB prior to Dec 31 2020,  you will now be able to apply for a refund.

How much Was Paid Out in CERB Payments in 2020?

Overall, Ottawa paid out $81.6-billion in CERB and employment insurance to 8.9 million recipients between March 15 and Oct. 3, 2020. 
 

Update – Changing from CERB to CRB 

The Canada Recovery Benefit (CRB) ends on October 23, 2021. If you are eligible, you can apply for open CRB periods, up to 60 days after each period has ended. The last period for the CRB is period 28 (October 10 to 23, 2021). This will be open for application until December 22, 2021.

The Canada Recovery Benefit provides eligible workers with up to 54 weeks of income support for those of you who are not eligible for EI.  This also applies to those are not employed or self-employed due to COVID-19.  This too is available to those that had their employment or self-employment income reduced by at least 50% due to COVID-19.

The first 42 weeks are paid at $500 per week (taxable, tax deducted at source).  The remaining 12 weeks are paid at $300 per week (taxable, tax deducted at source).  All new Canada Recovery Benefit recipients on or after July 18, 2021 will also receive a rate of $300 per week. This benefit is paid in 2-week periods. The CRB ends on October 23, 2021. If you are eligible, you can apply for open CRB periods, up to 60 days after each period has ended.

12203-107 Avenue.
Edmonton, Alberta.
T5M 1Y9

Call us:
780.482.7297