How much CRB can you receive per period?
The Canada Recovery Benefit (CRB) provides a payment of $1,000 (before taxes withheld) for each 2-week period that you apply for. After the CRA withholds a 10% tax at source, the actual payment you get is $900 per 2-week period.
$1,000 (CRB gross amount) minus $100 (10% tax withheld at source) equals $900 (amount you receive per period)
If you continue to be eligible, the CRB is available for a maximum of 13 periods between September 27, 2020 and September 25, 2021.
Impact on your taxes
The 10% tax withheld at source may not be all the tax you need to pay. When you complete your personal income tax return, you may need to pay more (or less), depending on how much income you earned. You must report the CRB payments that you receive as income when you file your personal income tax return.
The CRA will provide you with a T4A tax information slip at tax time for the amount you received in CRA administered COVID-19 benefits.
How your income affects what you keep
You may earn employment or self-employment income while you receive the CRB. But to make sure the benefit reaches those who need it most, there is a difference in how much you can keep if you earn more than $38,000 in the calendar year. This amount excludes CRB payments.
You will have to reimburse $0.50 of the CRB for every dollar of net income you earned above $38,000 on your income tax return. You will not have to pay back more than your benefit amount for that year. This will be due at the same time as your income tax return for the year. Late payments will be charged interest.
Net income excluding CRB
If your net income is over $38,000, you will have to reimburse $0.50 of the benefit for every dollar of net income that you earned above $38,000.
If your net income is $38,000 or less, you will not have to reimburse the CRB.
Net income includes: Amounts that are normally considered part of net income for income tax purposes (line 23600 of your tax return), with some adjustments for split income and certain repaid amounts. Net income includes any CERB, CRCB and CRSB payments you received. It does not include the CRB.