Canada’s Prime Minister, Justin Trudeau, has announced a tax credit for people who have received income from various aid programs.
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However, taxpayers must be vigilant, as they will still have to declare and pay taxes on their other income for the 2020 fiscal year.
The requirement not to pay taxes by April 30, 2022 on PCU income is to not have taxable income of more than $ 75,000.
Here are answers to some of our viewers’ questions.
“I have received T4A and Relevé 1 which attests to an income of $ 8000. I have only received $ 4000 from PKU. Do you still have to pay taxes?”
It is very important to contact the Revenue Agency to amend your T4A or Relevé 1. If you do not get a new tax receipt, you will have to pay tax of $ 8000.
“Is there a link between PCU fraud and Desjardins’ data breach? My 15-year-old is a victim.”
According to Desjardins, there is no official link between these leaks. Contact Desjardins, they offer protection against data theft and help every step of the way to find your identity.
“I have not received a T4A and have received a PCRE, is this normal? Is PCRE taxable?”
PCRE is subject to tax. If you do not receive your receipt within the next few days, contact the Canada Revenue Agency.
Sophie Laurent is a contributor to Vaughantoday.ca, covering a wide range of topics including local news, politics, business, technology, sports, entertainment, and lifestyle. She focuses on delivering clear, balanced reporting that helps readers stay informed about current events and issues that matter to their communities. Sophie is committed to presenting accurate information, practical insights, and relevant stories in a straightforward and reader-friendly manner, making complex topics accessible to a broad audience.