Did you receive CRB last year? How to know if you’ll take a hit at tax time
The tax deadline is April 30th and many Canadians will soon be turning their attention to getting their tax slips in order. For those who received the Canada Recovery Benefit (CRB) in 2021, you may find that you will need to repay a bit of the benefit if your income exceeded $38,000 despite the introduction of a 10% source deduction for the CRB. This article explains the benefit’s clawback as well as offers some good advice if you find yourself with a significant tax obligation that you need to negotiate with the Canada Revenue Agency.
