Did you make less than $75,000 in 2020 and collected COVID benefits? If so, you will not have to pay interest on any amount owing from your 2020 taxes until April 30, 2022.

You may be eligible for interest relief if you received COVID-19 benefits and meet certain criteria.  If you meet all the eligibility criteria below, you will get interest relief on your 2020 taxes owing. You still need to file your tax return by the due date to avoid paying any late-filing penalties.

You will receive interest relief on 2020 taxes owing if you meet all of the following:

• Your total 2020 taxable income was $75,000 or less

• You received at least one COVID-19 benefit in 2020:

Canada Emergency Response Benefit (CERB)

Canada Emergency Student Benefit (CESB)

Canada Recovery Benefit (CRB)

Canada Recovery Caregiving Benefit (CRCB)

Canada Recovery Sickness Benefit (CRSB)

Employment Insurance (EI) benefits

Provincial or territorial emergency benefits

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• You filed your 2020 income tax and benefit return

• You need to meet all of the above criteria to be eligible for interest relief.

Remember to file your taxes by the due date or else you risk being charged a late filing penalty and it make affect any benefits or credit payments such as Canada Child Benefit (CCB) and the GST/HST credit.

Check the www.canada.ca website for more information on due dates and late penalties.