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Sep 1, 2021 · Cash on hand: the amount for 2021 is 10,218 and for 2020 is 6,085; Amounts receivable from taxpayers and benefit recipients (note 3): the amount for 2021 is 140,336 and the amount for 2020 is 118,287; Amounts receivable under the tobacco civil settlements (note 4): the amount for 2021 is 49 and the amount for 2020 is 49
Oct 18, 2022 · This publication presents statistics for 21 selected T1 line items such as employment income, old age security pension, net federal tax and total tax payable. These line items are presented by province and territory and then further broken down by income class, major source of income, age, and gender. The most recent assessment is used.
- Employment Income
- Pension Income
- Income from Other Sources
- Income from Self-Employment
- Non-Taxable Income
- Total Income Assessed
Item 4: Employment income (before deductions) – Line 10100 of the return, less commissions on line 10120
This is income from wages and salaries, taxable allowances and benefits, bonuses and directors’ fees, etc.
Item 5: Commissions – Line 10120 of the return
This is the income an employee received based on a percentage of sales. Some people may be paid by commission only, while others may receive a fixed salary as well as a percentage of sales.
Item 6: Other employment income – Line 10400 of the return
This includes the following amounts: 1. tips and occasional earnings 2. net research grants 3. clergy’s housing allowance and/or an amount for eligible utilities 4. foreign employment income 5. income-maintenance insurance plans (wage-loss replacement plans) 6. veterans' benefits 7. certain goods and services tax/harmonized sales tax (GST/HST) and Quebec sales tax rebates 8. royalties 9. amounts received under a supplementary unemployment benefit plan (a guaranteed annual wage plan) 10. taxab...
Item 7: Old Age Security (OAS) pension – Line 11300 of the return
This is a monthly benefit paid to people 65 years of age or older. It is from box 18 of the T4A(OAS) slip.
Item 8: CPP or QPP benefits – Line 11400 of the return
This is the amount of CPP or Quebec Pension Plan (QPP) benefits (box 20 on the T4A(P) slip). This item also includes death and disability benefits, and child benefit, if received by a child of a deceased or disabled contributor.
Item 9: Other pensions and superannuation – Line 11500 of the return
This includes income from registered pension plans, registered retirement income funds, deferred profit-sharing plans, foreign pensions, etc.
Item 11: Employment insurance and other benefits – Line 11900 of the return
This is the benefits from the employment insurance plan (box 14 on the T4E slip which for 2020, includes the Canada Emergency Response Benefit (CERB)).
Item 12: Taxable amount of dividends (eligible and other than eligible) from taxable Canadian corporations – Line 12000 of the return
This is the total dividend value, plus a 38% gross-up for the eligible dividends and a 15% gross-up for the dividends other than eligible dividends. A dividend tax credit is also available.
Item 13: Interest and other investment income – Line 12100 of the return
This includes interest, foreign interest or dividend income.
Self-employment income corresponds to net income. In other words, it is gross income, less any adjustments and expenses incurred.
Item 24: Workers’ compensation benefits – Line 14400 of the return
This is the amount of compensation paid to an employee or surviving spouse or common-law partner in the event of the employee’s injury, disability or death, under the laws of Canada or a province or territory. This amount is shown on a T5007, Statement of Benefits slip.
Item 25: Social assistance payments – Line 14500 of the return
This is the payments to beneficiaries or third parties as reported on a T5007, Statement of Benefits slip.
Item 26: Net federal supplement – Line 14600 of the return
This is the net amount of any allowance, allowance for the survivor, or guaranteed income supplement received in the tax year. It is shown in box 21 of the T4A(OAS) slip.
Item 27: Total income assessed – Line 15000 of the return
This includes the amount reported on line 15000 of the return. It does not includenon-taxable income from the following sources: 1. GST/HST credit or Canada child benefit payments, as well as payments from related provincial or territorial programs; 2. child assistance payments and the supplement for children with disabilities paid by the province of Quebec; 3. amounts received under the Canada child benefit (CCB) program; 4. compensation received from a province or territory for a victim of...
These statistics contain the most recent 2021 tax year assessments or reassessments up to the cut-off date. The purpose of this publication is to release preliminary T1 statistics related to common line items in the Income Tax and Benefit Return.
Nov 10, 2023 · In 2021, the top 1% of tax filers received 10.4% of aggregated income earned by tax filers, up from 9.4% in 2020 and the highest level posted since 2015. In 2021, wages and salaries drove increased incomes for the top income earners.
2020 taxes owing by certain individuals to April 30, 2022 (from April 30, 2021). Specifically, the CRA will not charge interest on 2020 taxes owing until April 30, 2022 where all of the following conditions are met: • The individual’s total 2020 taxable income was $75,000 or less
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gains or capital losses in 2020. You generally have a capital gain or loss whenever you sell, or are considered to have sold, capital property. The term “Capital property” is defined on page 6. Use Schedule 3, Capital Gains (or Losses) in 2020, to calculate and report your taxable capital gains or net capital loss.
