有关孩子报税的QUESTION

[Hermit_life]

孩子长大了, 第一次报税.

有近千元的收入From TIM HORTON's T4, 这好办, 按照软件表格填就是. 还有两百块是帮邻居打孔剪草赚的, 这部分收入怎么报啊? 是"Other income"还是"Business Income"?这两者有区别吗?



谢谢了先

 

[T&G]

Business Income 填T2125表

 

[busymom]

it is not business income , enter on Line 130

 

[Hermit_life]

it is not business income , enter on Line 130

I was thinking so, but my son talked around his classmates. Most of his friends go with business income. Some actually filed tax returns thru accountants (those lucky ones who have parents in business).



Professionals always recommended business income. T2125 is required.



What's the difference between business income (line 162 with T2125)and other income (line 130)?



Thanks for all replies

 

[超级潜水员]

As business income so that the expense could be deduct. The tool used could be depreciated.
Not too much difference if he only have few thousands income.

 

[zuoyouzuo]

Other income include other employment income (non slips, foreign income, prior year Gst/Hst adj, etc), RRSP income, other pension income, and parternership income. Other income does not include the income of this kind.

With your case, T2125 with business income would be more appropriate.

 

[Hermit_life]

Thanks, all
I decided to go with business income for my son's tax return. Now new questions come up.

He doesn't have any Business Name or Account number. How can I enter these boxes. And what's the industry code for his misc landscaping works?

 

[liujiejie]

Thanks, all
I decided to go with business income for my son's tax return. Now new questions come up.

He doesn't have any Business Name or Account number. How can I enter these boxes. And what's the industry code for his misc landscaping works?

200块钱？不用那么罗嗦，就放在L104好了。

 

[Meng_er]

If other income over 3500 go for business income. Only 200, just go line 104

 

[Hermit_life]

If other income over 3500 go for business income. Only 200, just go line 104

This is the first time to prepare my son's tax return. He is working with other 3 of his firends, who all are the first time to prepare tax files and have similar income elements, like T4 from Tims or McDonald or gas station, and a few hundreds from summer works with no T4.



Within thier group, two filed with returns with parents thru professionals. All are advised to put the no-T4 income on Business Income and fill T2125. The kids' passion is just unbeatble, and I was convinced that's the right way to go.

 

[smartgirl]

就你的小孩的具体情况来看，报哪儿都没区别，要么130，要么135，几乎不会被查，也不用找professional报，除非他想把这个business做下去，做大，那一定的planning in the beginning 也是需要的。

 

[Jingle]

借机问个问题吧,也是孩子的, 12岁,收到她的第一张T4(也可能是T4A). 金额不大, 几千, 要给她报吗? 这数额肯定不用交税的, 但收到了T表,是不是就必须报税呢?

 

[coala]

借机问个问题吧,也是孩子的, 12岁,收到她的第一张T4(也可能是T4A). 金额不大, 几千, 要给她报吗? 这数额肯定不用交税的, 但收到了T表,是不是就必须报税呢?

Yes, why not.

You don't want her SIN number being filtered out by CRA computer system.

 

[Hermit_life]

借机问个问题吧,也是孩子的, 12岁,收到她的第一张T4(也可能是T4A). 金额不大, 几千, 要给她报吗? 这数额肯定不用交税的, 但收到了T表,是不是就必须报税呢?

Oh, no



How could a 12-yr child get T4 income? It's illegal, and it's the employer's fault. The income will be counted as parent's income. A child can only have T4 income after 14 years old.



And you can only file a tax return for child over 16-yrs old

 

[Jingle]

Oh, no

How could a 12-yr child get T4 income? It's illegal, and it's the employer's fault. The income will be counted as parent's income. A child can only have T4 income after 14 years old.

And you can only file a tax return for child over 16-yrs old

Ah? are you sure? 可是我们真的收到了给她的T4(也可能是T4A). 我糊涂了. 请问能给link吗? 我没找到具体规定. 谢谢了!