Page 34 - A Canuck's Guide to Financial Literacy 2020

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▪ Visiting a family member who is sick or injured
▪ Accompanying a family member who is seeking medical that is not available in
Canada
▪ Job Interview
▪ You’re allowed to be outside of Canada for maximum 2 weeks if you have a job
interview & seeking employment

Taxes & EI Clawback

EI payments are taxable income and must be reported. Anyone receiving payments from EI
will get issued a T4E which must be filed with your income tax return for that particular year.

If your net income exceeded $66,375 in 2019, you’ll be required to repay 30% of the lesser
of

▪ your net income in excess of $66,375; or
▪ the total regular benefits paid in the taxation year.

Example: If your income was $76,376 in 2019, $10,000 above the threshold then you’ll
have to pay back $3,000 ($10,000 * 0.30). If your income was $68,375 in 2019, then you’ll
have to pay back all of $2,000. Remember that it’s he lesser of

Exception on Clawback

▪ If no income was earned on EI during last 10 years, you’re not obligated to repay back
any benefits, no matter the level of your income.
▪ If the EI benefits were the following, no clawback exists
▪ Pregnancy, Parental and Maternal Benefits
▪ Sickness Benefits
▪ Compassionate Care Benefits

Other EI Benefits

There are various types of other Employment Insurance benefits, mentioned below

• Parental Benefits
• Sickness Benefits
• Benefits for Farmers
• Caregiving Benefits
• Compassionate Care
• Benefits for parents of murdered or missing children
• Fishing Benefits
• Benefits for self-employed people