Newswire Quebec (12.02.2021) Individuals who have received COVID-19 assistance benefits will be exempt from paying interest on their 2020 tax balance for a one-year period. This measure is intended to provide relief to those who have been impacted by the pandemic. Specifically, individuals who received the Canada Emergency Response Benefit (CERB), the Canada Emergency Student Benefit (CESB), the Canada Recovery Benefit (CRB), the Canada Recovery Caregiving Benefit (CRCB), the Canada Recovery Sickness Benefit (CRSB), employment insurance benefits (including maternity and paternity benefits) or the Incentive Program to Retain Essential Workers (IPREW) and who will have a tax balance owing on their 2020 income tax return will be entitled to an interest holiday until April 30, 2022. To be eligible for this measure, individuals must have earned a total taxable income of $75 000 or less in 2020.
(Quebec). Individuals who have received COVID-19 assistance benefits will be exempt from paying interest on their 2020 tax balance for a one-year period. This applies to individuals who received the Canada Emergency Response Benefit (CERB), the Canada Emergency Student Benefit (CESB), the Canada Recovery Benefit (CRB), the Canada Recovery Caregiving Benefit (CRCB), the Canada Recovery Sickness Benefit (CRSB), employment insurance benefits (including maternity and paternity benefits) or the Incentive Program to Retain Essential Workers (IPREW), and who will have a tax balance owing on their 2020 income tax return will be entitled to an interest holiday until April 30, 2022. To be eligible for this measure, individuals must have earned a total taxable income of $75 000 or less in 2020.