Question 12. – Calculation of income based on the “Notice of Assessment”
12.A: Print the amount that appears at line 150 of the last Notice of Assessment issued to you by the CRA for the most recent taxation year.
12.B: Enter all of the following payments that were included in the amount at line 150 of your Notice of Assessment, add them up and print the total:
- Provincial instruction or training allowance;
- Social assistance paid by a province;
- Guaranteed income supplement paid under the Old Age Security Act; and
- Employment insurance: maternity, parental and sickness benefits paid under the Employment Insurance Act are considered income. Other payments such as employment insurance and federal training allowances are not considered as income.
12.C: Deduct the total entered at 12.B (line 6) from the amount at 12.A (line 1). The result 12.C is your total income as per this method of calculation.
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