ACCT 3350 Chapter Notes - Chapter 9: Canada Pension Plan, Taxation In Canada, Pension
28 Nov 2017
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Chapter 9: other income, other deductions, and special rules for completing net income for tax purposes: other sources of income. Catch-all category other income that does not qualify as: Sections 56 through 59. 1 of the act. Not taxable if student is enrolled in a qualifying education program. Otherwise exempt only to the extent of annually. Taxable providing received as periodic payments, pursuant to a court order or written agreement. Life insurance proceeds on the death of an individual. Profits from betting or gambling, when conducted for pleasure or employment. Proceeds from accident, disability, sickness, or income maintenance insurance policies, if the employee has paid all of the premiums. Specific list of items found in section 60 through 66. 8 of the act. Support payments to a former spouse, if periodic and by virtue of a court order. Retiring allowances for pre-996 employment transferred to rrsp. Fees/expenses for objection or appeal for a tax assessment.
