Type what you received, such as “gift”, “tips” or “TFSA”, and see the usual answer. These are the general rules, and your own situation can differ.
Is it taxable?
| What you got | Taxable? | Notes |
|---|---|---|
| Salary, wages and bonuses | Yes | Reported on a T4 |
| Tips | Yes | Report them even if no slip shows them |
| Self-employment income | Yes | After business expenses |
| Rental income | Yes | After eligible rental expenses |
| Interest from a bank account | Yes | Even if it is small |
| Dividends from Canadian companies | Yes | With a gross-up and a dividend tax credit |
| Capital gains on stocks or property | Partly | 50% of the gain is included in income |
| Sale of your principal residence | Usually no | You still report the sale on your return |
| TFSA withdrawals | No | Withdrawals add back room next year |
| TFSA growth and interest | No | Inside the account only |
| RRSP withdrawals | Yes | Tax is withheld at source and the rest is due at filing |
| FHSA qualifying withdrawal for a first home | No | Other withdrawals are taxable |
| Employment Insurance benefits | Yes | Including maternity and parental benefits |
| CPP and OAS | Yes | OAS can be clawed back at high income |
| Guaranteed Income Supplement | No | Not taxable income |
| Canada Child Benefit | No | It is based on your income, but it is not income |
| GST/HST credit | No | Not taxable |
| Workers compensation | Reported, then deducted | It shows on the return but nets out |
| Social assistance | Reported, then deducted | It shows on the return but nets out |
| Gifts from family | No | The recipient pays no tax on a gift |
| Inheritance | No | The estate may owe tax, and later growth on assets you inherit is yours to report |
| Life insurance payout | No | Usually tax-free to the beneficiary |
| Lottery winnings | No | Interest you earn on the money afterward is taxable |
| Student loans and student grants | No | Scholarships are mostly exempt for full-time students |
| Tax refund | No | It is your own money coming back |
| Child support received | No | The payer cannot deduct it either |
| Spousal support received | Yes | The payer can usually deduct it |
| Crypto gains | Yes | Usually as capital gains, or as business income if you trade often |
| Severance pay | Yes | Taxed as employment income |
| Moving cost paid by your employer | Usually no | If it is a reasonable reimbursement |
Why does “it depends” show up so often?
Because the same dollar can be treated differently depending on who pays it, why, and which account it sits in. When in doubt, check the CRA page or ask a licensed professional. A good next step is the income tax calculator.
Where does this information come from?
It comes from the public pages of the Canada Revenue Agency and other open sources, checked in October 2026. This is an independent information site: we provide no services, we do not represent the CRA or any organization, and we do not guarantee that anything here is accurate or current. We accept no liability for decisions based on it. Check the official source before you rely on it. See the full disclaimer.