Are you getting the most out of your Canada Pension Plan (CPP)? Make sure your grants and/or fellowships are reported properly to ensure that you get what you’re entitled to. Grants and fellowships need to be reported the right way on your tax return in order to be eligible for Canada Pension Plan (CPP) premiums [...]
Definition of 'Other Income' 'Other Income' is taxable income that has not been or should not be reported anywhere else on the return. Source: CRA website. How you choose to declare income can have short-term and long-term effects. Line 104 and Line 130 on your Canadian Income Tax Return are usually intended for 'Other Income' [...]
Q: I’m an aspiring journalist who just finished an internship. On one hand, it was a pretty prestigious place to have interned. On the other hand, I only got a small honorarium in exchange for my efforts. How do I declare the honorarium from my internship on my income tax return? A: First of [...]
