The Federal Government as processed about 19 million applications for the Canadian Emergency Response Benefit (CERB) program and paid out nearly $55 billion.

But there is a downside for those who received the money.

Aaron Ruston of Purposed Financial said it could become an issue during income tax time if you don't have your finances in order.

"I think what the people have to see in this is the fact that these benefits that they are getting, these are not freebie benefits. It has certainly created some bridging of them, some room to breathe, but these are fully taxable benefits," Ruston said.

About 218,000 people in Saskatchewan have taken part in the program with 42,000 in the under 25 age category and over 56,000 in the 25-34 age range.

Ruston said the debt the government is accumulating is grown second-by-second and down the road taxpayers will be paying for it.

"If COVID hasn't brought about a reality check to people to work hard, to get their house in order and be prepared for things, the future could well be the second wave that they talk about for a financial perspective if people aren't making provisions and plans for these things as they move forward because it will be our reality probably going into 2021 and beyond," he said.

He also warned that those who applied for CERB but don't 100 per cent qualify for the benefit could face ramifications in the future.

Looking at the overall economic outlook, Ruston said the economic climate is changing and can't go back to the way it was. He suspects the governments of all levels will be increasing taxation over time to recuperate their losses during the COVID-19 pandemic.

He said he could also see taxes on capital gains and possibly taxes on dividends and corporating increase over time as well.