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Thread: Paying back CERB

  1. #141
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    Quote Originally Posted by Kobe View Post
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    CRB Qualifies self-employed people, EI does not

    This is the main difference.
    Yes and no. As a self employed person you can opt-in to the EI program.
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  2. #142
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    Just got my T4 and started entering everything last night. Is that's what's up with the lines 57-60 monthly breakdowns...?

    Honestly, the biggest one that grinds my gears is the people like that lady in the news when everyone first started getting the reclaim payment letters - You wrote of every last thing to claim the smallest amount of income possible last year and net was under 5k. Now you got 20k in free government money you can't pay back - Where the fuck did it all go if you were previously living on <5 grand?!?

    I know a few people that claimed it straight up job or not cause they were genuinely worried they might not have one or were getting reduced hours. It's about a 50/50 split between those that squirrelled it away in case and spent it on RCA TVs, lol.
    Originally posted by killramos
    It's a Chrysler, it won't last long enough to depreciate.

  3. #143
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    Quote Originally Posted by Pauly Boy View Post
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    Just got my T4 and started entering everything last night. Is that's what's up with the lines 57-60 monthly breakdowns...?
    Yep, it's for determining eligibility.

    Quote Originally Posted by https://home.kpmg/ca/en/home/insights/2020/09/new-2020-t4-reporting-requirements.html
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    The CRA has announced that all Canadian employers must report certain employment payments on the 2020 T4 slip, "Statement of Remuneration Paid", using new information codes that correlate to defined periods. According to the CRA, this additional information is intended to validate payments made to individuals under the Canada Emergency Response Benefit (CERB) and the Canada Emergency Student Benefit (CESB) programs, as well as payments made to employers under the Canada Emergency Wage Subsidy (CEWS).



    The T4's new information codes must be used to report employment income and retroactive payments to employees paid in the following time periods:



    Code 57: Employment income March 15 to May 9
    Code 58: Employment income May 10 to July 4
    Code 59: Employment income July 5 to August 29
    Code 60: Employment income August 30 to September 26

  4. #144
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    Quote Originally Posted by Pauly Boy View Post
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    Just got my T4 and started entering everything last night. Is that's what's up with the lines 57-60 monthly breakdowns...?

    Honestly, the biggest one that grinds my gears is the people like that lady in the news when everyone first started getting the reclaim payment letters - You wrote of every last thing to claim the smallest amount of income possible last year and net was under 5k. Now you got 20k in free government money you can't pay back - Where the fuck did it all go if you were previously living on <5 grand?!?

    I know a few people that claimed it straight up job or not cause they were genuinely worried they might not have one or were getting reduced hours. It's about a 50/50 split between those that squirrelled it away in case and spent it on RCA TVs, lol.
    Basically if you collected CERB and had income in those same period boxes prepare for a big bill.
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
    fact.

  5. #145
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    Quote Originally Posted by killramos View Post
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    Basically if you collected CERB and had income in those same period boxes prepare for a big bill.
    Let's hope since I didn't claim CERB and have a tiny income in those boxes I get a big refund, lol
    Originally posted by killramos
    It's a Chrysler, it won't last long enough to depreciate.

  6. #146
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    Quote Originally Posted by Pauly Boy View Post
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    Let's hope since I didn't claim CERB and have a tiny income in those boxes I get a big refund, lol
    Haha. That’s not how it works unfortunately. CERB isn’t Mincome.
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
    fact.

  7. #147
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    Quote Originally Posted by killramos View Post
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    Basically if you collected CERB and had income in those same period boxes prepare for a big bill.
    Those boxes are for your employers tax purposes and CEWS. They have no effect on your personal income or taxes.

  8. #148
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    Quote Originally Posted by Tik-Tok View Post
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    Those boxes are for your employers tax purposes. They have no effect on your personal income or taxes.
    https://www.canada.ca/en/revenue-age...-covid-19.html

    Not entirely correct. They are there for validating income during specified periods of the year. This is used to validate if CEWS, CERB, and CESB payments were legitimate. It doesn’t have an effect on your taxes per se, but will have an effect if you claimed benefits you weren’t eligible for.

    If you collected CERB for the year and your employer says you were gainfully employed and earned during those periods, prepare for a fun conversation with the CRA. Same with CESB.

    Validating CEWS is only a part of it.

    CERB wasn’t free money for everyone and this is one of the ways they will stick it to people.
    Last edited by killramos; 03-02-2021 at 01:36 PM.
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
    fact.

  9. #149
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    Can't wait for the rheeeee on Twitter about it.

  10. #150
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    Quote Originally Posted by flipstah View Post
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    This is why it irks me that CERB payments for unqualified are just absolved.
    ME too.
    Also know a guy. Played hockey overseas for 3 years, uni student prior to that. Home due to covid and on CERB.
    Has paid zero Canadian tax as of yet but gets all the benefits.

  11. #151
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    Quote Originally Posted by killramos View Post
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    https://www.canada.ca/en/revenue-age...-covid-19.html

    Not entirely correct. They are there for validating income during specified periods of the year. This is used to validate if CEWS, CERB, and CESB payments were legitimate. It doesn’t have an effect on your taxes per se, but will have an effect if you claimed benefits you weren’t eligible for.

    If you collected CERB for the year and your employer says you were gainfully employed and earned during those periods, prepare for a fun conversation with the CRA. Same with CESB.

    Validating CEWS is only a part of it.

    CERB wasn’t free money for everyone and this is one of the ways they will stick it to people.
    Good; fuck those lazy motherfuckers trying to scam the system for free money.
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  12. #152
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    Biden admin has "got tough". Will no longer give covid benefits to those making over $80,000 US/year.

    https://www.cnbc.com/2021/03/03/fewe...heres-why.html

    Kind of makes $5,000 Canadian seem like some sort of alternate universe.
    SN11 - Nope.

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