QUÉBEC, Feb. 12, 2021 /CNW Telbec/ - Individuals who have received COVID-19 assistance benefits will be exempt from paying interest on their 2020 tax balance for a one-year period. This measure is intended to provide relief to those who have been impacted by the pandemic.

Specifically, individuals who received the Canada Emergency Response Benefit (CERB), the Canada Emergency Student Benefit (CESB), the Canada Recovery Benefit (CRB), the Canada Recovery Caregiving Benefit (CRCB), the Canada Recovery Sickness Benefit (CRSB), employment insurance benefits (including maternity and paternity benefits) or the Incentive Program to Retain Essential Workers (IPREW) and who will have a tax balance owing on their 2020 income tax return will be entitled to an interest holiday until April 30, 2022. To be eligible for this measure, individuals must have earned a total taxable income of $75 000 or less in 2020.

Individuals must file and submit their income tax return by April 30, 2021 to avoid the late-filing penalty. It is in their best interest to do so quickly, so that they can continue to benefit without interruption from the social tax programs to which they are entitled, such as the solidarity tax credit or the family allowance.

Revenu Québec offers several ways for individuals to make payment arrangements if they are unable to pay the amounts due in a single instalment.

Since the beginning of the pandemic, Revenu Québec has been committed to showing flexibility and understanding towards individuals and businesses. It has implemented a series of measures to help Quebecers over the past few months.

With only a few weeks to go before the beginning of the tax season, Revenu Québec continues to monitor the situation closely and will adjust if necessary. For more information on the interest holiday and other relieving measures announced in recent months, visit the website of Revenu Québec.

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"Since the beginning of the pandemic, our government has sought to support those impacted by the crisis. This measure will help individuals who have received assistance benefits by giving them additional time to pay their tax balance."

Eric Girard, Minister of Finance

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Last update: February 12, 2021