CERB REPAYMENT PROTOCOL
Repayments can affect your taxes
The timing of when you repay a CERB amount may affect your taxes. Your repayment should appear on your T4A slip for the year you made the repayment.
If you repay a CERB amount before January 1, 2023, you can choose when and how to claim the deduction on your tax return.
You have the option to claim your repayments as a deduction in the year you made the repayment or in the year you received the benefit. You may also split the deduction between the tax years, as long as you do not deduct more than what you repaid.
When to report your repayments on your taxes
If repaid in 2020
Your repayment should have been subtracted from your total benefit amount on your 2020 T4A slip. You did not pay tax on amounts you repaid in 2020.
If repaid in 2021
Your repayment will be on your 2021 T4A slip. If you repaid a benefit amount you received in 2020, you can choose to:
* claim the deduction on your 2020 tax return
* claim the deduction on your 2021 tax return
* split the deduction between your tax returns
If repaid in 2022
Your repayment will be on your 2022 T4A slip. You should receive your T4A slip in early 2023.
You can choose to:
* claim the deduction on your tax return for the year you received the benefit (2020 or 2021)
* claim the deduction on your 2022 tax return
* split the deduction between your tax returns
Keep proof of your repayment if you claim the deduction before you receive your 2022 T4A slip.
If repaid in 2023 or later
If you repay a benefit amount after December 31, 2022, you can only claim a deduction in the year you make the repayment.
