Canadian tax lawyer David Rotfleisch offered his insights about CERB (Canada Emergency Response Benefit) repayments in an article published in Narcity.com. In the report, David explains that there exists an option for CERB recipients to avoid repayments.
“Self-employed applicants who have filed their 2019 taxes could update their return by filing a T1-ADJ form, where they can amend their expenses so that their net income rises above the $5,000 threshold.” — Narcity.com, “Tax Experts Say There’s A Way To Avoid CERB Repayments If You’re Self-Employed”
Read the report here.
"This article provides information of a general nature only. It is only current at the posting date. It is not updated and it may no longer be current. It does not provide legal advice nor can it or should it be relied upon. All tax situations are specific to their facts and will differ from the situations in the articles. If you have specific legal questions you should consult a lawyer."