The Canada Revenue Agency said that those who received Covide-19 benefits from the agency in 2022 will receive a T4A Statement of Pension, Retirement, Annuity and Other Income Slip.
The slip will be explaining how to report amounts on taxes. The CRA said people will get the T4A slip in their mails by the end of February, while residents of Quebec will receive a T4A slip and RL-1 slip.
The CRA said people can also “request to have the amount of federal Covid-19 benefits repaid in 2022 deducted from the 2020 or 2021 return or split between 2022 return and the return for the year the benefit was received.”
If you made a repayment to the CRA between January 1 and December 31, 2022 for an excess payment received in 2020 or 2021 for Canada Emergency Response Benefit (CERB); Canada Emergency Student Benefit (CESB); Canada Recovery Sickness Benefit (CRSB); Canada Recovery Caregiving Benefit (CRCB); and Canada Worker Lockdown Benefit (CWLB), you will be shown in box 201 of your 2022 T4A slip, said CRA.
The CRA encourages people to file “by the deadline”, so as to guarantee that there are no “interruptions on your benefit or credit payment and that you avoid late-filling penalties.”
May 1 is the deadline to file taxes, and June 15 is the deadline for self-employed people.
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