What does the CRA mean by other sources of income?
Allan Madan, CA
This is a catch-all category that captures taxable income which does not qualify as one of the primary sources.
Major types of other income include:
- Benefits received from RRSP (including from a registered retirement income fund)
- Employer pension plan
- Old-age security from the government of Canada
- Benefits from employer’s deferred profit-sharing plan
- Canada, Quebec, or foreign pension benefits
- Retiring allowances
- Benefits from Employment Insurance plan
- Income from RESP
Disclaimer
The information provided on this page is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided on this page.
ABOUT THE AUTHOR
ALLAN MADAN
CA.CPA.CGA
Allan Madan is a CPA, CA and the founder of Madan Chartered Accountant Professional Corporation. Allan provides valuable tax planning, accounting and income tax preparation services in the Greater Toronto Area.
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