KLCA CHARTERED PROFESSIONAL ACCOUNTANTS
KLCA CHARTERED PROFESSIONAL ACCOUNTANTS
Mar 1, 2021
Interest relief if you received COVID-19 benefits CRA will give interest relief to individuals if your total 2020 taxable income was $75,000 or less and you received at least one COVID-19 benefit in 2020. You have to filed your 2020 tax return, the CRA will automatically apply interest relief on your 2020 taxes owing. You will not have to pay interest on any amount owing from your 2020 taxes until April 30, 2022. Interest relief only applies to your 2020 taxes owing and not on previous or other debts with the CRA. If you have any questions please contact us.