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RC151 GST/HST Credit for Newcomers To Canada - Questions about filling the form

tallguywithbeard

Full Member
Dec 12, 2018
49
12
Hi

The form states: Enter your and your spouse's or common-law partner's (if you have one) income from all sources that was not reported on a Canadian tax return
I have to provide details from for the year 2020 Jan 1 to Jan 14 (the day I became a resident)
Also, for the year 2019 from Jan 1 to Dec 31, and for 2018 Jan 1 - Dec 31 because I became a resident between Jan 1 - May 31 of 2020.

I have the following doubts, any advice from those who have filled previously will help:

1. What income exactly has to be declared? Would it be gross world income or net world income...is net world income the same as net taxable income?
In my country we have
  • Gross total income - All income that was earned, either deposited in the bank or given by cash (as long as the cash amount was declared, which I have) along with interest from fixed deposits (GIC)
  • Taxable income - The total income that is considered taxable. We have presumptive taxation, where net taxable income is considered as 8% of one's turnover and we will pay tax on that income. This applies to any business having a turnover of less than $170,000.
2. What counts towards income exactly? I understand all business income + cash income, but I also had a fellowship from UK that paid a lumpsum of a few thousand pounds (cash deposit). Would the fellowship amount be counted in with my income? I also received a gift deed from my spouse of a fairly adequate sum to help with my business, would that count towards income as well?


ANy help will be appreciated
 
Last edited:

canuck78

VIP Member
Jun 18, 2017
52,959
12,759
Hi

The form states: Enter your and your spouse's or common-law partner's (if you have one) income from all sources that was not reported on a Canadian tax return
I have to provide details from for the year 2020 Jan 1 to Jan 14 (the day I became a resident)
Also, for the year 2019 from Jan 1 to Dec 31, and for 2018 Jan 1 - Dec 31 because I became a resident between Jan 1 - May 31 of 2020.

I have the following doubts, any advice from those who have filled previously will help:

1. What income exactly has to be declared? Would it be gross world income or net world income...is net world income the same as net taxable income?
In my country we have
  • Gross total income - All income that was earned, either deposited in the bank or given by cash (as long as the cash amount was declared, which I have) along with interest from fixed deposits (GIC)
  • Taxable income - The total income that is considered taxable. We have presumptive taxation, where net taxable income is considered as 8% of one's turnover and we will pay tax on that income. This applies to any business having a turnover of less than $170,000.
2. What counts towards income exactly? I understand all business income + cash income, but I also had a fellowship from UK that paid a lumpsum of a few thousand pounds (cash deposit). Would the fellowship amount be counted in with my income? I also received a gift deed from my spouse of a fairly adequate sum to help with my business, would that count towards income as well?


ANy help will be appreciated
Yes fellowship counts. Gift deed does not.