Paying back CERB

[gwill]

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I had no choice whether I was on it or not. I was laid off and applied for EI, as one would when laid off. The next thing I knew I was getting CERB until my EI claim was in place. I called and asked why I was getting it, and they said that this is the way it was set up. Didn't ask for it, but I got it. Now because I made 100k and my wife makes close to that, you think I should give it back? And no, it wasn't about keeping up a lifestyle, it was about keeping my home.

If you recieved something you shouldn't have then yes you should pay it back. Its pretty simple.

My wife's on maternity leave and was over paid $6000. We knew this and expected to pay it back. We didn't go out and spend it. It seems all those on cerb expect a free pass/free check.

Wheres peoples accountability these days?

[Team_Mclaren]

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The deficit numbers are quite hilarious. People were pissed last year at our spending, with deficit growing from 20b to 55b. We're on track to hit 400b this year. Only $10k of debt for every individual in Canada, NBD lol.

Shit's gonna get creative. Cap gains taxes on primary residences are already being talked about. Now's a good time to be poor haha.

Its funny because some people seem to think that it wont need to be paid back by taxes in the future...
https://forums.beyond.ca/threads/412461-2021-income-tax

[jutes]

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Wheres peoples accountability these days?

That's way out the window, like in the field and over to the next province. People are never held accountable and always play the victim, mostly due to their own ignorance. "I didn't know" is the typical excuse when they go crying to the media.

[max_boost]

No need to be accountable. Another party will seize your dissatisfaction for votes lol

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Only thing one can do is throw in all their cash into stonks so the 30% gain can offset the tax increases.

Soon they will come after tfsa and said you made more than 5% lol haha

[The_Rural_Juror]

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Its funny because some people seem to think that it wont need to be paid back by taxes in the future...
https://forums.beyond.ca/threads/412461-2021-income-tax

Some of the creme puffs on that forum. tsk tsk.

[pheoxs]

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Only thing one can do is throw in all their cash into stonks so the 30% gain can offset the tax increases.

Can I put Bitcoin in my TFSA? Almost 500% gains on the year

[mr2mike]

Personally know of two or more different people.
One made no income in Canada. Didn't even live here in 2018 or 2019 and was paying hockey in Europe. Came back because of the covid.
Promptly got on CERB and so did the gf who also lived in Europe. With their combined CERB, they are renting a new condo, buying new furniture and not even considering paying it back. They feel they deserve it.

These are the people that should be fined by CRA or garnish any future EI claims or higher EI payments when they do get employment in Canada. The CRA has ways. They're just being instructed to do nothing.

Also know a bunch of students in programs on CERB too.
At this point, my gf should have applied for the mishandled hand out too but didn't.

[faiz999]

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Personally know of two or more different people.
One made no income in Canada. Didn't even live here in 2018 or 2019 and was paying hockey in Europe. Came back because of the covid.
Promptly got on CERB and so did the gf who also lived in Europe. With their combined CERB, they are renting a new condo, buying new furniture and not even considering paying it back. They feel they deserve it.

These are the people that should be fined by CRA or garnish any future EI claims or higher EI payments when they do get employment in Canada. The CRA has ways. They're just being instructed to do nothing.

Also know a bunch of students in programs on CERB too.
At this point, my gf should have applied for the mishandled hand out too but didn't.

so they took the money and promptly put it back into the economy? the horror

[Nufy]

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I never applied, nor received, CERB. Should I pay it back?

You will...just not officially.

[The_Rural_Juror]

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Can I put Bitcoin in my TFSA? Almost 500% gains on the year

Isn't Bitcoin already invisible to the government?

[killramos]

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Inheritance tax will almost certainly be coming. Old folks should spend thier money and die broke.

Way too easy to dodge for anyone with more than a few pennies.

Will really show the people set To I here it their moms trailer at Sunnyvale though.

States has estate taxes, and no one pays them there.

[mr2mike]

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so they took the money and promptly put it back into the economy? the horror

Tax free. Like an entitled Nobelmen.

[90_Shelby]

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I am not calling anyone out here individually. Just pointing out that those who didn't need it but took it are kinda douchey, especially when they call out poor people for not contributing enough with one hand, all the while their other hand is being held out happily grabbing at CERB themselves.

But you are calling out anyone who previously made over $100k, has lost their job and collected CERB as they are entitled to, as you feel that's kind of douchey and gross if their significant other is still employed.

Got it Comrade.

[mr2mike]

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States has estate taxes, and no one pays them there.

They also have ability to deduct mortgage interest from their taxes.

[gmc72]

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If you recieved something you shouldn't have then yes you should pay it back. Its pretty simple.

My wife's on maternity leave and was over paid $6000. We knew this and expected to pay it back. We didn't go out and spend it. It seems all those on cerb expect a free pass/free check.

Wheres peoples accountability these days?

Didn't expect it or had a choice. I was put on it when I applied for EI. I'm going to get hit at tax time when I need to pay income tax on that money. I don't expect a free pass/free check. I followed the rules and you're saying that because the government did it this way, I should pay back that money? Even if doing so will put me in a tight financial situation? Or should I just sell my house, in a down market and take a bigger loss? Or sell my assets so that I have nothing left? Pretty simple hey?

[The_Rural_Juror]

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But you are calling out anyone who previously made over $100k, has lost their job and collected CERB as they are entitled to, as you feel that's kind of douchey and gross if their significant other is still employed.

Got it Comrade.

$100K-ers get such a bad rep for no apparent reason.

[mr2mike]

I think it's anyone that actually pays taxes that will get hit for CERB tax payments.
The chumps with nothing to lose except a repossession of their 82" TV still keep winning.

[blownz]

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$100K-ers get such a bad rep for no apparent reason.

I know more than 1 doctor that made over $1M last year and this year applied for CEWS within their corps and one that even laid off family members so they could collect CERB. I also have heard of people that have made more money in 2020 from CERB than they made all last year.

Bottom line is there are people at every income level that abuse the system.

The ~$100K=ers mentioned above should get a break as they are usually the ones just following the rules and paying all the taxes lol

[The_Rural_Juror]

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I know more than 1 doctor that made over $1M last year and this year applied for CEWS within their corps and one that even laid off family members so they could collect CERB. I also have heard of people that have made more money in 2020 from CERB than they made all last year.

Bottom line is there are people at every income level that abuse the system.

The ~$100K=ers mentioned above should get a break as they are usually the ones just following the rules and paying all the taxes lol

Moral of the Story: $100kers are poor honest people. Go after the $1M-ers.

[msommers]

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The ~$100K=ers mentioned above should get a break as they are usually the ones just following the rules and paying all the taxes lol

Tax evasion and tax avoidance is a thin, grey line. If it's borderline legal-ish, "why are we not doing that"...Whether it's right or wrong in the hearts and minds of others, it could be smart from a purely financial perspective. Or the CRA sees it as illegal in which case your life will become a living hell.