IMPORTANT NOTICE: WCB AND 2020 TAX FILING

WCB AND 2020 TAX FILING:

T5007 Statement

If you had a WCB claim in 2020 you will receive a T5007 form, whether you were paid by your employer or by WCB.

You must fill out this form as part of your 2020 tax filing.

Completing this form ensures that the WCB compensation you received, whether through your employer’s payroll or through WCB directly, is kept separate so you’re not taxed on the WCB portion of your earnings.

If you have any questions, please consult with a tax professional and they will be more than able to assist you.

Posted on: February 10,2021