Dollars and SenseNews
Ottawa is saying your CERB money is taxable
Source: Erica Alini, April 18, globalnews.ca
Ottawa has said the money is taxable, and it will largely depend on how much income you’ll have for 2020 as a whole.
Six million Canadians have applied for the Canada Emergency Response Benefit (CERB) amid the novel coronavirus pandemic.
The federal income support program provides $2,000 every four weeks for up to 16 weeks to Canadians who’ve been financially affected by the pandemic. Ottawa isn’t withholding any taxes at source on those benefits, meaning recipients are getting the full $2,000 for now.
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