Income

Most income is taxable, and it’s probably best to assume that income received will be taxed. That
said, it may be interesting to learn what types of income are not taxable.

The following amounts are not taxable and do not need to be reported on your tax return:

• GST/HST credit and Canada Child Benefit payments, including those from related provincial or territorial programs
• Child assistance payments and the supplement for disabled children paid by the province of Quebec
• Child support income received for the support of dependent children on a relationship breakdown of the parents
• compensation received from a province or territory if you were a victim of a criminal act or a motor vehicle accident
• most lottery winnings
• most gifts and inheritances
• amounts paid by Canada or an allied country (if the amount is not taxable in that country) for disability or death due to war service
• most amounts received from a life insurance policy following someone’s death
• most types of strike pay you received from your union, even if you perform picketing duties as a requirement of membership
• elementary and secondary school scholarships and bursaries
• Post-secondary scholarships, fellowships, and bursaries received are not taxable if you are considered a full-time qualifying student. Part-time students may receive scholarships and bursaries tax-free up to the limit of their educational costs, excess amounts are taxable.
• most amounts received from a tax-free savings account (TFSA)

Note
Income earned on any of the above amounts (such as interest you earn when you invest lottery winnings) is taxable.