Canada Revenue Agency: 3 Steps to Make Your CERB/CRB Tax Free

Author: External Author | | Categories: Accountant , Bookkeeper , Bookkeeping , CFO , Cloud-Based Accounting , Controller Service , Payroll Management Services , Payroll Service Provider , Payroll Services , Personal Taxation , Tax Services


The Canada Revenue Agency (CRA) offered many cash benefits last year to help Canadians deal with the COVID-19 pandemic. But these benefits are not tax-free. You need to add them to your taxable income, which will then be used to calculate your tax bill for 2020. The most popular benefits that the CRA distributed in 2020 are the Canada Emergency Response Benefit (CERB) and the Canada Recovery Benefit (CRB).

Read More

Original Article Source Credits:  The Motley Fool,

Article Written By:  Puja Tayal

Original Article Posted on:  February 9, 2021

Link to Original Article: