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ADMS 3520 (42)
Chapter 8

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Administrative Studies
ADMS 3520
Thaddeus Hwong

Chapter 8 – Taxable Income Miscellaneous Income - Pension Benefits - Employment Insurance Benefits - Retiring Allowances - RRSP Withdrawals - Support Payments received for Spousal Support - Death Benefits (first $10,000 is exempt) - RESP payments received - Scholarships (fully exempt from tax) - Annuity Payments out of a Retirement Plan - Research Grants - Universal Child Care Benefit Non – taxable Income - Worker’s Compensation Benefits - Social Assistance Benefits - Lottery Winnings - Child Tax Benefits - Inheritances - Life Insurance Proceeds - Child Support Payments - Loans - Disability Benefits received if your employer did not pay for the insurance Chapter 8 – Deductions - Spousal Support - Moving Expenses - Child Care Expense - Interest Expense (if loan was used for investment purposes) - Disability Support Deduction Moving Expenses - are deductible if new home is 40 km closer to your new work location or post-secondary institution - moving expenses are deductible against the income earned in the new location. If they cannot be deducted in one year, they can be carried forward to next year - list of deductib
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