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New Member
posted May 1, 2023 12:24:55 PM

Social Benefits Repayment

What is the Social Benefit repayment that is on my Net Income?

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1 Replies
Level 1
May 1, 2023 12:46:58 PM

Hello @Stebil45 

 

You may have Social Benefits Repayment according to your income.  Social benefits repayments are for Employment Insurance or Old Age Security received.  If your income exceeds a threshold you need to repay amounts received. 

Please check this CRA link for more information

https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-23500-social-benefits-repayment.html

Thank you

 

Enter the amount from line 23500 of your federal income tax return for 2022