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Find out how you should track and report all your tips and gratuities In Canada, the amount you earn in tips and gratuities is considered to be income, and you must report all of it on your tax return. ...

Regardless of the cost, the following gifts and awards are considered a taxable employment benefit: cash or near-cash gifts and awards such as Christmas or holiday bonuses or near-cash gifts and awards such as gift certificates points that can be redeemed for air travel or other rewards, or an internal points system where an employee earns points and can redeem them for items from a catalogue reimbursements from an employer to an employee for a gift or an award that the employee selected, paid for and then provided a receipt to the employer for reimbursement hospitality rewards such as employer-provided team building lunches and rewards in the nature of a thank you for doing a good job gifts and awards given by closely held corporations to their shareholders or related persons disguised remuneration such as a gift or award given as a bonus manufacturer-provided gifts or awards given directly by the manufacturer to the employee of a dealer. ... If the social committee is not funded and controlled by the employer, a prize won via lottery from the social committee is considered to be a windfall. ... Each situation must be considered on its merits. If you have a situation you would like us to review and give an opinion on, please contact the CRA. ...

Subject matter expert: You are considered a full-time student for the purpose of claiming moving expenses if you regularly attend a college, university or other educational institution that offers courses at a post-secondary school level and you take, during a semester, at least 60% or more of the usual course load for the program you've enrolled in. If you are a co-op student who attends school for an academic period and you work in a business or industry that relates to your studies for a similar period of time, you are considered to be a full-time student only during the time you attend school. ... A niece, nephew, aunt or uncle is not considered related for these purposes. ...

Host: Can you tell me when I would know when I am no longer considered a small supplier? Subject matter expert: The main factor in determining if you are no longer considered a small supplier is whether you have exceeded the small supplier threshold. ... Subject matter expert: If you are under the threshold amount in one calendar quarter, but you are over the threshold during four consecutive calendar quarters, you are considered to be a small supplier for those four calendar quarters and one month following those quarters. ...

Under the new rules, when a registered charity makes a gift to a qualified donee and it can reasonably be considered that the purpose of the gift was to support the political activities of the recipient, the gift is considered an expenditure on political activities. ... You will notice on the form, as an example, the names of directors is public information and both their addresses and phone numbers are considered confidential information. ...

However, under proposed changes, a transfer of property for which the donor received an advantage will still be considered a gift for purposes of the Income Tax Act as long as we are satisfied that the transfer of property was made with the intention to make a gift. ... For example, green fees that would ordinarily be charged to a non-member playing the course at the time of the event would be considered a benefit and therefore an advantage to be included in determining the eligible amount. ... Under the right circumstances the transferred property could be considered a gift and therefore eligible for a receipt. ...

Education savings rollover to RDSP The definition of contribution under subsection 146.4(1) of the Act states that an accumulated income payment (AIP), transferred into an RDSP from an RESP, is not considered a contribution to the plan except for the purposes set out under paragraphs 146.4(4)(f) to (h) and (n) of the Act. An AIP is considered an education savings rollover amount when paid into an RDSP. ... It must also specify that these amounts are only considered contributions if paragraphs 146.4(4)(f) to (h) and (n) of the Act are respected. ...

Your business cannot pay its tax debt in full now If you are an employer, the amounts that you deduct and withhold from the wages of your employees are considered deemed trust amounts. Similarly, if you operate a business as a sole proprietor, partnership, or corporation, the GST/HST amounts that you collect from your customers are also considered deemed trust amounts. ... Even if you keep these amounts with your personal or business funds, the amounts are considered to be held separate and apart. ...

Policies to be reported A contract is considered to be entered into or renewed on the effective date of the contract unless the contract provides that the premiums are payable on a date other than the effective date. In this case, for purposes of filing your return, the contract is considered to be entered into or renewed on the premium payable date. ... Where contracts of insurance are validly placed with unlicensed insurers under the above conditions, the insurer can be considered authorized to transact the business of insurance in the context of Part I of the Excise Tax Act. ...

., the "owner") is considered to have sold the goods to the purchaser. ... Services provided by auctioneers An auctioneer who has made a sale of goods by auction is considered (except in limited circumstances) not to have provided the owner with services related to the sale of the goods. ... Generally, a service is considered to be related to the sale of goods if both of the following requirements are met: The service provided to an owner relates directly to the sale of the goods by auction and not simply to the goods themselves. ...