A reminder for those availing of the federal government’s Canadian Emergency Response Benefit funding: these benefits are taxable.

The Canada Revenue Agency’s website states, “You will need to report any payments received on next year’s tax filing. An information slip will be made available for the 2020 tax year in My Account under Tax Information Slips (T4 and more).”

Premier Ball says people are getting $500 a week for up to 16-weeks, and although income tax will not be deducted at source, this will be taxable next year.

He says it’s wise to keep that in mind as people prepare to use this money, and he knows people have been waiting for it for quite some time.

Figures from the federal government this morning show that 5.08-million people are receiving the Canada Emergency Response Benefit.

The figure includes about two-million workers who previously qualified for employment insurance benefits after March 15, but were moved to the new benefit when it became available on Monday.

So far this week, 3.08-million people have filed claims for the benefit, including just over 615,000 claims on Thursday alone.

The $2,000-a-month benefit is available for up to 16 weeks for eligible workers affected by COVID-19.