Closed Work Permit - Can I receive cheque from others ?

[indra00]

Hi,
I am on a closed work permit and have filed my tax return for the first time. After e-filing I have got a code 2139 for my e-filing meaning my return has been selected for a pre-assessment verification review.
Problem is, I had received a $100 cheque from a medical diagnostic center as they owed money to me. I had deposited the cheque money to my checking account, the same one where my salary goes. I have not mentioned this in return and I want to know if I will get into trouble for that ?
Also, going forward can I receive cheque from individual or any office while I am on a closed work permit ?

Please let know...

 

[k.h.p.]

Were you paid that money as an incentive to participate in a study?

 

[indra00]

Were you paid that money as an incentive to participate in a study?

No, nothing like that and the cheque was simply written on my name.
Am I expected to show amounts like $100 ? is there a limit of amount till which it's not required to report to CRA

 

[k.h.p.]

So it was a refund and not employment? If CRA is asking for records from your bank, they will get it all.

If it was a refund, it is not reportable as income to the CRA.

 

[indra00]

So it was a refund and not employment? If CRA is asking for records from your bank, they will get it all.

If it was a refund, it is not reportable as income to the CRA.

Yes, but how will CRA know it's a refund ? Will they ask me for it and I will have to declare it ?

Also, can you suggest going forward should I accept cheques from others ?

 

[k.h.p.]

If you have to give them bank statements, they may ask you for proof of what the transaction is.

If you are owed money, accept it. If it's employment income, declare it.

 

[indra00]

If you have to give them bank statements, they may ask you for proof of what the transaction is.

If you are owed money, accept it. If it's employment income, declare it.

Since you are here I wanted to ask one more thing. I use to work in a different country and I had saved 8-9 thousand dollars there which after coming to canada ... I have transferred that money into my account. This could be another reason why they are reviewing my return. It was around 9000 cad. But since it's not a income and just savings of my own, I haven't declared it as well. I have also kept the money in my checking account so far so that no interest is generated and thereby no trouble of interest and tax of that interest. Can you comment on this .

 

[k.h.p.]

I'm not an accountant, sorry. I don't know.

 

[canuck_in_uk]

Yes, but how will CRA know it's a refund ? Will they ask me for it and I will have to declare it ?

Also, can you suggest going forward should I accept cheques from others ?

CRA will not care about a random $100 deposit. You are worrying for nothing.

Since you are here I wanted to ask one more thing. I use to work in a different country and I had saved 8-9 thousand dollars there which after coming to canada ... I have transferred that money into my account. This could be another reason why they are reviewing my return. It was around 9000 cad. But since it's not a income and just savings of my own, I haven't declared it as well. I have also kept the money in my checking account so far so that no interest is generated and thereby no trouble of interest and tax of that interest. Can you comment on this .

You weren't required to declare it. As long as you can show the source of funds and that it wasn't unreported income, it's fine.