COVID REPAYMENT DEDUCTION

Many people have been required to repay CERB, CRB, or other Covid-related benefits. Some people have contacted the CRA and entered into a repayment plan. For some others, the CRA is redirecting tax refunds or other benefits towards payment of Covid debt.

Whether voluntary or not, repayments are deductible from income. Starting in 2023, repayments can only be deducted for the tax year in which the repayment was made.

UFile steps:

Repayments will be reported in box 201 of a T4A slip or box 30 of a T4E slip. Once the slips are entered into UFile, the deduction will be reported on Line 23200 of the client’s return.