Although considered Gross Income you will not be taxed on this amount as it is specifically exempt under the Income Tax Act. You would include this amount in the section, "amounts considered not taxable" and include it under other with a description.
Don't worry, no tax is paid on this amount!
Gemisays: 26 August 2012 at 10:49
Thank you, Tim. You've been very helpful!
TaxTimsays: 26 August 2012 at 19:24
Only a pleasure!
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