2007-02-20 13:49:50 · 5 answers · asked by vinny_the_hack 5 in Business & Finance ➔ Taxes ➔ Canada
Actually, they sent a notice saying it must be claimed as income.
2007-02-20 14:21:54 · update #1
It's called the "GST credit" and it comes quarterly to low/no-income individuals. Those bastids direct you to claim it but don't give you a clue as to where. :(
2007-02-20 17:56:32 · update #2
I just looked on my daughter's last satetment they sent her and sure enough, you guys are right. It says it is tax-free. I'm positive she was sent a notice a month or two back saying she must claim it. I'll have her see if she can find that letter.
Thanks to both of you for your time and effort. I'll make an update here some time tomorrow.
2007-02-21 13:57:38 · update #3
My bad. Upon re-reading the statement, it was ordinary interest that she was credited (and needs to be claimed), but has nothing to do with the GST credit she's been getting.
Sorry and thanks again.
2007-02-22 17:28:28 · update #4
I'm glad that you got everything figured out. Sometimes, just asking a question brings you to find all the answers you need on your own. Happy filing. =)
2007-02-20 14:31:18 · answer #1 · answered by LaLa 6 · 0⤊ 1⤋
It could be that your daughter received RC62 slip for the Universal Child Care Benefit (UCCB). This is a taxable benefit which began in July 06 and are given to families with children under 6 yrs old. If this is what your daughter received, it is taxable and must be claimed by the lower-income earner (if she's single, she claims it) on Line 117 of her T1 return.
2007-02-22 16:59:53 · answer #2 · answered by euclidjr 2 · 0⤊ 0⤋
No, she will not get one due to being claimed as a dependent. You won't get a bonus for her as a dependent child as she is over 16. If you do not claim her next year and she otherwise qualifies, she can apply for the second chance stimulus payment when she files her 2008 taxes. There will be a section right on her tax return for this.
2016-05-24 00:27:20 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Now I'm confused again. The quarterly GST Credit is definately a tax free payment. From the CRA website:
"The GST/HST credit is a tax-free quarterly payment that helps individuals and families with low and modest incomes offset all or part of the GST or HST that they pay."
2007-02-20 14:20:16 · answer #4 · answered by Anonymous · 0⤊ 1⤋
GST credits are not taxable; the UCCB is taxable, though - she should have received an income slip for it recently.
2007-02-24 06:41:49 · answer #5 · answered by CanadianBlondie 5 · 0⤊ 0⤋