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Motz says budget misses the mark - Medicine Hat NewsMedicine Hat News


Motz says budget misses the mark
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Medicine Hat MP Glen Motz says there could be positives in the federal budget announced Monday, but only if executed properly but the Liberal government.
But, the opposition MP says heavy spending, little new revenue and growing debt raises questions for him about sustainability of marque budget points from Finance Minister Chrystia Freeland, such as a childcare program.
“There are far more things that are problematic and it doesn’t present the plan that Canadians are asking for,” he told reporters on a conference call Monday afternoon.
“We need to be talking about an economic recovery and that has to include all sectors of the economy.” ....

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CRA Warning: You Must Pay Taxes on the $2,000 CERB You Got in 2020!


CRA Warning: You Must Pay Taxes on the $2,000 CERB You Got in 2020!
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The 2021 tax season in Canada officially begun on Monday, February 22, 2021. Taxpayers who have the completed paperwork can file their tax returns for the 2020 taxes electronically. However, rushing to file may not be a smart move, given that this year’s preparation is quite extraordinary.
Taxpayers would need to have all tax slips before starting the process and not forget to include the pandemic benefits as taxable income. If you received $2,000-per-week Canada Emergency Recovery Benefit (CERB) from the Canada Revenue Agency (CRA) or Service Canada, you must pay taxes on them. ....

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Those who received CERB, other benefits, may have to pay it back in taxes


By News Room
Jan 30, 2021 2:42 PM
The Canada Revenue Agency advises that if you received one of the federal government’s benefits related to COVID-19 last year, you may have to pay some of it back in taxes.
Saskatchewan spokesperson, Joanne De Waal, says no tax was withheld for CERB, which is the Canada Emergency Recovery Benefit, or from the Emergency Student Benefit.
Ten percent was withheld for the Canada Recovery Benefit, the Recovery Sickness Benefit or the Caregiver Benefit.
Depending on your finances for 2020, you may owe some money.
If it’s a financial hardship, De Waal says, the payment parameters have been expanded this year based on each taxpayer’s situation. ....

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