UfileUser13 Posted March 10, 2021 Report Share Posted March 10, 2021 What If you don't enter CERB amount in your tax return? I never applied for CERB. I applied for EI and they forcefully paid this CERB. Now why I should pay taxes on this? Just curious Quote Link to comment Share on other sites More sharing options...
TheTaxSmith Posted March 10, 2021 Report Share Posted March 10, 2021 Hi UfileUser13. Did you give it back? Quote Link to comment Share on other sites More sharing options...
UfileUser13 Posted March 10, 2021 Author Report Share Posted March 10, 2021 Not yet. when ever I called CRA they said leave it for now, no need to pay this back as they don't know what the future rules will be. Quote Link to comment Share on other sites More sharing options...
TheTaxSmith Posted March 10, 2021 Report Share Posted March 10, 2021 Haha. You will get taxed on it unless they determine otherwise at some point. Quote Link to comment Share on other sites More sharing options...
UfileUser13 Posted March 10, 2021 Author Report Share Posted March 10, 2021 too bad. Quote Link to comment Share on other sites More sharing options...
UfileUser13 Posted March 10, 2021 Author Report Share Posted March 10, 2021 Is there any interest charges will occur if I excluded from my tax return? Quote Link to comment Share on other sites More sharing options...
TheTaxSmith Posted March 10, 2021 Report Share Posted March 10, 2021 CRA will reassess based on not reporting it. Then you could be subject to a penalty of 25% of the unreported amount plus interest. So you will be fighting a battle on several fronts. Remember that it's not usually a person that assesses your return, it's a computer and they like professional accountants (lol) have no feelings. They just apply the law. Quote Link to comment Share on other sites More sharing options...
UfileUser13 Posted March 10, 2021 Author Report Share Posted March 10, 2021 So I was just going through below CRA link. I have not received any T4A slip as of yet. It means ? If you received CERB from the Canada Revenue Agency (CRA), you will get a T4A slip. For details: T4A: Report COVID-19 amounts. https://www.canada.ca/en/services/taxes/income-tax/personal-income-tax/covid19-taxes/t4e-report.html Quote Link to comment Share on other sites More sharing options...
TheTaxSmith Posted March 10, 2021 Report Share Posted March 10, 2021 Is the CERB on your T4e slip? Quote Link to comment Share on other sites More sharing options...
UfileUser13 Posted March 10, 2021 Author Report Share Posted March 10, 2021 Yes, that's correct. Just figured it out. My T4E is $3,500. I received EI for $1,500 plus $2,000 (CERB). And I was claiming $3,500 and additional $2,000. That's where my tax refund went down. I think T4A is just for Quebec region. Thank you, Quote Link to comment Share on other sites More sharing options...
TheTaxSmith Posted March 10, 2021 Report Share Posted March 10, 2021 Hi UfileUser13. The CERB program changed after several months. The first program had amounts reported on a T4A, then later amounts were switched to the EI program and reporting. A T4A is a Federal slip and there is a corresponding Quebec slip. Quote Link to comment Share on other sites More sharing options...
UfileUser13 Posted March 10, 2021 Author Report Share Posted March 10, 2021 Understood, thank you Quote Link to comment Share on other sites More sharing options...
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