Various programs are available to help Individuals and Businesses that have been financially impacted by COVID-19. Where some programs have ended others have started.
Tax Filing Due Dates
We are unclear whether similar measures will be given for the 2021 tax season.
Filing Your Return
If you received benefits from CERB, CESB, CRB, CRSB, or CRCB it is considered a taxable benefit. You will need to file a tax return to report these amounts. For these amounts, you will receive a T4A or T4E tax slip in the mail. Your slips will also be available online as of February 2021 in My Account.
Temporary Tax Credit:
Canadians can claim up to $400 in stay at home expenses if they had to work from home due to the COVID pandemic.
The government introduced a new temporary flat rate method to simplify the process of claiming the deduction for home office expenses for the 2020 tax year. In order to apply, you need two forms filled out, as well as a calculator to figure out the total costs of your office expenses.
Please contact us if you have any questions regarding the forms you must complete to file your income tax return.