The Income Tax Act makes distinctions between a wide range of sources of income, including wages, dividends, interest, and capital gains. There are some sorts of income that just do not fit anywhere on your income tax return, despite all of these distinctions.
T4A slip
The T4A slip stands for Statement of Pension, Retirement, Annuity, and Other Income. The information reported on all of the T4A slips you created for each recipient for the calendar year is totaled on the T4A. Line 13000 on the tax return in Canada is shown in box 106 on the T4A slip.
T3 slip
The T3 slip, or Statement of Trust Income Allocations and Designations, is used by trusts to list beneficiaries and disclose financial information about the income and credits that the trust allocates to them. Line 13000 on the tax return in Canada is shown in box 26.
What is line 13000 on the tax return
The other name of line 13000 on the tax return is Other kinds of income. Line 13000 was 130 before the 2019 tax year.
Any taxable income that has not been disclosed elsewhere on your return or that should not have been reported elsewhere should be recorded on line 13000. On line 13000 of your return, use the space given to describing the sort of income you are declaring. Online 13000 of your tax return, including any taxable scholarships, fellowships, bursaries, and grants for artists' projects.
As a general rule, line 13000 should be used to declare income items that don't fit anyplace else on your return. The payer frequently gives you a T4A slip. Any sum displayed in box 130 of a T4A slip should be reported on this line.
Additional instances include:
- Amounts received as an incentive grant for apprenticeships
- Amounts obtained as a grant for the completion of an apprenticeship
- money that has been distributed from a retirement compensation plan
- Training grants or comparable sums that appear in box 028 on a T4A slip you've received
- payments from an RESP that are shown in boxes 040 or 042 on a T4A slip you received;
- If you are under 65 and did not get the payment because your spouse passed away, annuity or registered retirement income fund payments are displayed in boxes 024, 133, or 194 of the T4A slip you got or in boxes 16 or 20 of the T4RIF slip you received;
- A few payments from your tax-free savings account, as noted in box 134 of your T4A form;
- Advantages from an RRIF that are specified and are displayed in box 22 on a T4RIF slip you got;
- You got a T4A slip with a registered pension plan amount displayed in box 018.
- A total, such as a grant, paid to you as compensation for taking time off work to deal with your child's passing or disappearance as a result of a crime or likely crime under the Criminal Code, as shown in box 136 of a T4A slip you received
- Income from a pooled registered pension plan as shown in box 194 of a T4A slip you received (this applies only if you were under 65 years of age and you did not receive this income on the death of your spouse).
Your entire other income should be reported on line 13000 of your tax return. Indicate the sort of income you are reporting in the box to the left of line 13000. If you have many sources of income, include a letter with your paper return outlining each one.
Conclusion
The Income Tax Act makes distinctions between a wide range of sources of income. Line 13000 should be used to declare income items that don't fit anywhere else on your return. Online 13010 of your tax return, include any taxable scholarships, fellowships, bursaries, and grants for artists' projects. All other income should be reported on line 13000 of your tax return. Indicate the sort of income you are reporting in the box to the left of line 13000. If you have many sources of income, include a letter with your paper return outlining each one.