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Important Updates about CRB (Canada Recovery Benefit). The Government has updated its website with specific and important information about CRB for anyone hopin...g and counting on applying. Link below, but some highlights: - It is confirmed that you will not be able to start to apply until October 12, then applications are retroactive for the two-week period before. - If you are eligible, you can receive $1,000 for a two-week period, but you only actually get $900 because $100 (10%) of taxes are withheld. Like CERB, the CRB is taxable income. - Each CRB payment is for a specific two-week period. The CRB program lasts 52 weeks (26 two-week periods) and you can apply for a maximum of 13 periods (26 weeks of income) in that time. - So Period 1 is Sep 27 - Oct 10, 2020; Period 2 is Oct 11 - Oct 24, 2020; Period 3 is Oct 25 - Nov 7, 2020 Period 25 is Aug 29 - Sep 11, 2021; and the final Period 26 is Sep 12 - Sep 25, 2021. - Unlike CERB, you apply retroactively, so if you meet the eligibility criteria for a period, the earliest you can apply is the Monday after the two-week period has ended. - Please note the eligibility requirements that you have to confirm each period that you apply. They are different than CERB. (https://www.canada.ca//benefits/recover/crb-who-apply.html) - For each CRB period you are applying for, you have to confirm that you were not working for reasons of COVID OR you had a 50% reduction in your average weekly income compared to the year before due to COVID (they provide examples, so please see those as it can be complicated!!). - CRB is for people not eligible for EI; not receiving other benefits like CRSB, CRCB, etc; must reside and be present in Canada; at least 15 years old; have a valid SIN; earn at least $5,000 employment or self-employment income in 2019 or 12 months before the date you apply for CRB; must be seeking work in the period; and not turned down reasonable work in the period. More details in the link. - Last important difference that I’ll highlight. The previous CERB must not earn more than $1,000 in the month requirement does NOT apply to CRB. BUT there is a new provision that says that if you earn more than $38,000 net income (including CERB, but not including CRB) in 2020 or 2021 (calendar year, so Jan-Dec), you will have to reimburse $0.50 of the CRB for every dollar of net income earned above $38,000 on your income tax return, up to a maximum of the CRB that you received that year. (To be clear - no impact at all if your annual net income is less than $38,000.) Example: if you end up making $40,000 in net income in 2020, and you had received $4,000 in CRB on top of that, you would have to repay $1,000 at tax time. ($40,000 - $38,000 = $2,000, then $0.50 for every dollar = $1,000). Example2: If you end up making $50,000 in net income in 2020, and you had received $4,000 in CRB on top of that, you would have to repay the entire $4,000 at tax time. (Because you made $12,000 net income over the $38,000 amount, the site says "You will have to reimburse $0.50 of the benefit for every dollar of net income that you earned above $38,000", so $0.50 of every dollar of $12,000 = $6,000, but you only received $4,000 in CRB, so you only have to repay that $4,000). Okay - so hope that helps inform you and gets you prepared if you need to apply when the program opens on Oct 12. Feel free to share and pass along of course. https://www.canada.ca//serv/benefits/recovery-benefit.html