ᐃᓕᓐᓂᐊᕈᑎᒃᓴᑦ 4    ACTIVITY 4

ᖃᐅᔨᓴᑦᓯᐊᕐᓂᖅ ᐊᑐᓗᐊᓕᙱᒃᑲᓗᐊᕐᒪᖔᖅᐱᑦ ᐃᑲᔫᑎᓂᒃ

ᐊᒻᒪᓗ ᑖᒃᓰᔭᐅᑏᑦ

Overspending benefits

ensuring you do not overspend benefits

CERB ᐃᑲᔫᑏᑦ ᑖᒃᓰᔭᕈᑕᐅᒋᐊᓖᓃᑦ ᑕᐃᒪᐃᒻᒪᑦ ᑮᓇᐅᔭᖅᑐᕈᑕᐅᒋᐊᓖᑦ ᐅᔾᔨᖅᑐᑦᓯᐊᕐᓗᓂ ᐃᓗᓕᖏᓐᓂᒃ.  

There are often sources of money that seem to be a bonus at the time but may have some costs down the road.

ᑕᒪᓐᓇ ᐃᓱᒪᒋᓗᒍ, ᖃᓄᖅ ᐊᑐᖅᑕᐅᑦᓯᐊᓂᖅᐸᐅᒍᓐᓇᖅᑲᑦ ᑮᓇᐅᔭᐃᑦ ᐱᔭᐅᔪᑦ? 

With that in mind, ask yourself, what might be the best use of the money received?

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ᐊᑭᓕᖅᑐᕆᐊᓕᓐᓂᒃ ᐊᑭᓕᑦᓴᐃᔭᕐᓂᖅ?

Paying bills?

ᓂᕿᑖᕐᓂᖅ?

Buying food?

ᓴᓂᕐᕙᐃᓂᖅ ᑐᐊᕕᕐᓇᖅᑐᓅᖓᔪᓄᑦ?

Setting aside for a contingency?

ᓄᐊᓴᐃᓂᖅ ᐱᒻᒪᕆᒻᒧᑦ ᓂᐅᕕᐊᕆᒍᒪᔭᓐᓄᑦ?

Saving for a big purchase?

ᐃᓚᖓᓂ ᑮᓇᐅᔭᖅᑕᖃᓲᖑᒻᒪᑦ ᐃᑲᔫᑎᓕᓪᓚᑦᓯᐊᕆᓐᓂᒃ ᐊᑑᑎᓕᖅᑎᓪᓗᒋᑦ ᑭᓯᐊᓂ ᐊᑭᖃᕐᓂᐊᖅᓱᑎᒃ ᑖᕙᓂᒋᐊᖅ ᓯᕗᓂᑦᑎᓐᓂ. 

Ensuring that you do not overspend benefits will help you avoid financial stress in future. 

CERB benefits are a good example

CERB ᐃᑲᔫᑏᑦ ᑐᑦᓯᕌᕆᒋᐊᖏᑦ ᐱᔭᕆᐊᑭᑦᑐᑦ ᑭᓯᐊᓂ ᑭᓇᒃᑯᓕᒫᓄᑦ ᑐᕌᖓᙱᑦᑐᑦ ᑖᒃᑯᐊ ᐃᑲᔫᑏᑦ. CERB−ᒥᒃ ᐱᓐᓂᕈᕕᑦ ᐱᔪᑦᓴᐅᖏᓪᓗᑎᑦ, ᐅᑎᖅᑎᒋᐊᖃᓛᖅᑕᑎᑦ ᐱᓯᒪᔭᑎᑦ ᑮᓇᐅᔭᐃᑦ ᒐᕙᒪᒃᑯᖏᓐᓄᑦ ᑲᓇᑕᐅᑉ. 

 

CERB benefits were easy to apply for but not everyone was eligible to receive them.   If you have received CERB and were not eligible, you will be required to repay the amount you received to the Government of Canada.

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ᖃᐅᔨᒪᓂᐊᖅᑯᑎᑦ CERB−ᑯᓐᓂᒃ ᐊᑭᓕᐅᑕᐅᔪᑦ ᐊᑦᑐᐃᓂᖃᕐᓂᐊᕐᒪᑕ IA ᐊᑭᓕᐅᑕᐅᔪᓂᒃ ᑖᒃᓰᔭᕈᑕᐅᒋᐊᖃᖅᓱᓂᓗ. ᓅᓐᓂᕈᕕᑦ ᐊᑭᑐᓂᖅᓴᒧᑦ ᑮᓇᐅᔾᔭᑦᓵᓄᑦ ᐃᒻᒪᖃ ᖁᑦᓯᓂᖅᓴᓂᒃ ᑖᒃᓰᔭᕆᐊᖃᕐᓂᐊᖅᑐᑎᑦ ᐃᒻᒪᖃᓗ ᐊᒥᓲᓂᖅᓴᓂᒃ ᑖᒃᓰᔭᓕᕐᓗᑎᑦ ᐅᕝᕙᓗ ᐱᔪᓐᓇᐃᓪᓕᑎᑕᐅᓗᑎᑦ ᐊᓯᖏᓐᓂᒃ ᐃᑲᔫᑎᓂᒃ. 

 

CERB benefits are taxable. So you must be aware that CERB payments will impact your IA payments and are taxable. Moving to a higher income might mean you will have a higher tax rate and might mean you have to pay more taxes or become ineligible for other benefits.

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ᑕᒪᓐᓇ ᐱᔾᔪᑕᐅᓪᓗᓂ ᑐᐊᕕᕐᓇᖅᑐᓄᑦ ᓄᐊᓴᐃᓂᖅ ᐱᐅᔫᕗᖅ ᐊᑭᓕᑦᓴᒦᑐᐃᓐᓇᓕᕐᓂᐊᙱᓐᓇᑦᑐᑦ ᐅᕙᑦᓯᐊᕈᒋᐊᖅ ᐊᑭᓕᕆᓐᓇᖏᑦᑕᑎᓐᓂ. ᑖᒃᓯᓕᕆᓕᕈᑦᑕ ᖃᐅᔨᒍᑦᑕᓗ ᐊᑭᓕᐅᑎᑦᓴᖃᙱᑦᑐᒍᑦ, ᑖᒃᑯᐊ ᑮᓇᐅᔭᐃᑦ ᐊᑐᖅᑕᐅᓕᕈᓐᓇᖅᑐᑦ ᐃᓚᖏᓐᓄᑦ ᓯᕗᓪᓕᐅᑎᓗᑎᒍᑦ.

 

In future it will be wise to build a contingency or savings fund so that we don’t find ourselves owing money we can’t afford later on. When we do taxes and find out we do not have to pay, then the money could be used for one of our priorities.

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ᐊᐱᖅᑯᑎᑦᓴᖃᕈᕕᑦ ᑖᒃᓯᓅᖓᔪᓄᑦ ᖃᓄᐃᓕᒋᐊᕆᐊᖃᖅᑐᑎᑦ ᒐᕙᒪᑐᖃᒃᑯᑦ ᑲᓇᑕᒥ ᐊᓪᓚᕝᕕᖓᓐᓄᑦ. 

If you have questions about taxes you should contact a Service Canada Office.

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ᐱᓕᕆᖃᑎᒌᓐᓂᒃᑯᑦ  ᐋᖅᑭᓱᖅᑕᐅᓯᒪᔪᖅ ᑖᒃᑯᓇᙵᑦ  ᐃᓄᓕᕆᔨᒃᑯᑦ  ᐱᓕᕆᕝᕕᖓᓐᓂ ᐊᒻᒪᓗ  ᐊᕐᕕᐊᓂ  ᐋᖅᑭᐅᒪᕝᕕᒃᑯᑦ  -  Developed in partnership between Department of Family Services and Aqqiumavvik Society