The new year is here, which means it’s time to start thinking about your personal taxes for 2020. Stay a step ahead by preparing documents required for the upcoming tax filing.
Here are the top things you need to consider:
As of October 12, 2020, the CRA has opened applications for the Canada Recovery Benefit (CRB). The CRB provides $500 per week for up to 26 weeks to workers who have stopped working or had their employment/self-employment income reduced by at least 50% due to COVID-19 and who are not eligible for Employment Insurance (EI).
The application process for the CRB is similar to the previous CERB program; however, there are some key changes to the application process. The new elements of the application process for CRB are as follows: