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CRB Repayments Are Coming Up For Some Canadians & Here's What You Need To Know

You may have to return the full amount, plus interest.💰

If you claimed the Canada Recovery Benefit (CRB), repayments could be just around the corner.

Now that tax filing season has officially kicked off, the federal government is reminding Canadians who claimed the CRB that some people will have to repay it.

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If you received the Canada Recovery Benefit (CRB), you may have to repay all or part of it. Government of Canada

If you claimed the CRB, but your net income after certain adjustments is over $38,000, you’ll be asked to pay back the benefit either in part or in full.

For every dollar of net income earned above $38,000, $0.50 of the CRB will have to be reimbursed, explains the Government of Canada.

No one will be required to repay more than their total benefit amount for the year, but it will be due at tax time.

Failure to pay on time will result in additional charged interest, reads the official CRB notice.

For those with a net income of less than $38,000, full repayments of the benefit will not be necessary.

That said, while a tax was withheld at source for the CRB, you may still owe additional taxes on it depending on your overall income for the year.

Parliament is officially in session as of Monday, November 22, and Canada's Usher of the Black Rod had a very important part to play in the ceremony.

If you're wondering what exactly it is that Black Rod does (that's the genuine short version of his name, by the way), he's the person at the beginning of the throne speech who ceremoniously leads the Senate Speaker's parade.

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Feds Say Canada's COVID-19 Benefits Are Likely To Cost $7.4 Billion Over The Next 7 Months

This includes the new Canada Worker Lockdown Benefit.👇💰

The federal government says the cost of extending Canada's COVID-19 benefits could exceed $7 billion between October 2021 and May 2022.

Speaking on October 21, Deputy Prime Minister Chrystia Freeland announced details of the Canada Worker Lockdown Benefit in addition to proposing extensions to both the Canada Recovery Sickness Benefit and the Canada Recovery Caregiving Benefit.

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7 Things I Did Not See Coming When I Applied To Be A Permanent Resident In Canada

I didn't realize how random the English test was going to be!

Hundreds of thousands of people become permanent residents in Canada every year — but if you've been through the process, you'll know that it's anything but straightforward.

As a U.K. citizen in full-time work in Canada, I was able to apply as an Express Entry candidate (you'd think express means it'd be quick, right? Wrong).

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In October, the federal government confirmed that two of Canada's COVID-19 benefits would be extended until November 20, with a proposal to extend further until May 2022: the Canada Recovery Caregiving Benefit and the Canada Recovery Sickness Benefit.*

While the Canada Recovery Benefit has officially ended, the remaining two benefits will continue to be available to those who need them.

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