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INCOME

Income is described as all the payments of any type paid to you or on your behalf.

Income, non-taxable.

  • Canada Child Benefit (CCB) payments
  • Child assistance payments and the supplement for handicapped children paid by the province of Quebec
  • Child Support if agreement or court order is after April 30, 1997.
  • Gifts: in most cases
  • Goods and Services Tax/Harmonized Sales Tax (GST/HST) payments
  • Inheritances: in most cases
  • Life insurance policy death benefit payments: most amounts received from a life insurance policy following someone’s death
  • Lottery winnings
  • Social Assistance Payments (SA), but you must still include it on your tax return to ensure that any benefits you may be entitled to are calculated properly
  • Workers Compensation Benefits, but you must still include it on your tax return to ensure that any benefits you may be entitled to are calculated properly

Income, taxable.

  • Apprenticeship incentives
  • Bond income
  • Business income
  • Capital gains
  • Child support if agreement or court order is prior to May 1, 1997
  • Cleric’s housing allowance
  • Commission income from sales, self-employed
  • Canada Pension Plan (CPP)/Quebec Pension Plan (QPP) child benefits
  • Canada Pension Plan (CPP)/Quebec Pension Plan (QPP) death benefits
  • Canada Pension Plan (CPP)/Quebec Pension Plan (QPP) disability benefits
  • Canada Pension Plan (CPP)/Quebec Pension Plan (QPP) lump-sum payments
  • Canada Pension Plan (CPP)/Quebec Pension Plan (QPP) survivor benefits
  • Canada Pension Plan (CPP)/Quebec Pension Plan (QPP) retirement benefits
  • Canada Pension Plan (CPP)/Quebec Pension Plan (QPP) post-retirement benefits
  • Dividends from taxable Canadian corporations
  • Earnings…employment income
  • Earnings on life insurance policies
  • Employment Insurance (EI) benefits
  • Employee profit sharing plans
  • Farming income
  • Fishing income
  • Foreign income: business income
  • Foreign income: currency exchange rates
  • Foreign income: dividends, interest
  • Foreign income: employment income
  • Foreign income: pension income
  • Foreign income: rental income
  • Goods and Services Tax/Harmonized Sales Tax (GST/HST) and Quebec Sales Tax (QST) rebates
  • Group term life insurance plan premiums paid
  • Guaranteed investment certificates: bank accounts, term deposits, & guaranteed income certificates
  • Home Buyers’ Plan (HBP) repayments
  • Investment income
  • Interest income
  • Lifelong Learning Plan (LLP) income
  • Net partnership income
  • Net federal supplements
  • Old Age Security pension income
  • Pension splitting income
  • Professional income, self-employed
  • Registered Education Savings Plan (RESP) income
  • Registered Retirement Income Fund (RRIF) income
  • Registered Retirement Savings Plan (RRSP) income
  • Rental income
  • Retiring allowances…severance pay
  • Royalties
  • Salary
  • Saskatchewan Pension Plan (SPP) payments
  • Spousal Support
  • Stock options income
  • Stocks income
  • Supplementary unemployment benefit plans
  • Tips
  • Trust income
  • Universal Child Care Benefit (UCCB) income
  • Wage-Loss Replacement Plan (WLRP) income
  • Wages

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