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Summary

Canadians Who Claimed COVID-19 Benefits Can Get Interest Relief At Tax Time & Here’s How

You won't have to pay until 2022!👇💰
Canada's Temporary Tax Relief Supports People Who Claimed COVID-19 Benefits
Justin Trudeau – Prime Minister of Canada | YouTube Dreammediapeel | Dreamstime
Managing Editor, Canada

If you claimed any of the federal government’s COVID-19 benefits in 2020, you could qualify for Canada’s temporary tax relief this year.

Announced in February, the targeted interest relief gives eligible Canadians an interest-free year to return any debt related to the COVID-19 benefits claimed.

Editor's Choice: Trudeau Has Fired Back After Doug Ford Called Ontario's Vaccine Supply A ‘Joke’

To be eligible, individuals must have had a total taxable income of $75,000 or less in 2020 and have received income support in the same year via a federal benefit.

This includes the Canada Emergency Response Benefit (CERB), the Canada Emergency Student Benefit (CESB) and the three new recovery benefits, in addition to Employment Insurance benefits and similar provincial emergency benefits.

The Canada Revenue Agency will automatically apply the interest relief measure for people who meet the criteria, although you must file your 2020 income tax return to qualify. Eligible individuals will not have to pay any interest on outstanding income tax debt until April 30, 2022.

CanadaMoney

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    • Helena Hanson

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      Helena Hanson (she/her) is the Managing Editor of Canada for Narcity and MTL Blog, where she brings her expertise in dreamy, aspirational travel journalism to life. A first-class graduate of Cardiff University's School of Journalism, Helena has a passion for inspiring readers to discover the magic in their own backyards. Originally from the U.K., Helena has spent years uncovering hidden gems and must-see destinations across countries like Sri Lanka, Vietnam, Indonesia, Japan, and more. Having lived in both Canada and Australia, she's become a seasoned expert in off-the-beaten-path adventures and bucket-list experiences that don't break the bank. Whether she's writing about things to do in Ottawa, Montreal, or her favourite spot—Disney World—Helena hopes to leave readers dreaming of their next adventure.

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