According to the Calgary CPA, Karim Bharwani, those who received COVID-19 benefits (CERB) are unaware that the CRA is providing interest relief on 2020 taxes. Of course, you will still need to file your tax return on time and by the due date to avoid paying any late-filing penalties.
There are strict and specific eligibility criteria, but this interest relief can significantly help those struggling due to poor economic conditions.
Need help filing taxes? Contact one of the tax consultants today.