Impact on taxes
Your CERB amounts are taxable. You will need to report the amounts from your T4A tax information slip on your 2020 tax return. We encourage you to return any payments you received in 2020 that you’re not eligible for before December 31, 2020.
If you return a CERB payment:
before December 31, 2020, and pay it in full, there is no impact on your 2020 taxes
after December 31, 2020, you will need to pay tax on the full CERB amount you received in 2020 (this will be adjusted after you file your 2021 taxes)
Your CERB amounts are taxable. You will need to report the amounts from your T4A tax information slip on your 2020 tax return. We encourage you to return any payments you received in 2020 that you’re not eligible for before December 31, 2020.
If you return a CERB payment:
before December 31, 2020, and pay it in full, there is no impact on your 2020 taxes
after December 31, 2020, you will need to pay tax on the full CERB amount you received in 2020 (this will be adjusted after you file your 2021 taxes)