Both the Trillium benefit and the HST/GST credit are essentially refundable tax credits, except that are paid out either over a period of a year beginning some time after the filing deadline, or in a lump sum (but later). Unlike in the US where state tax refunds are income for federal purposes, provincial and federal taxes do not interact. So these are purely tax-free.
> On Apr 18, 2019, at 9:36 AM, Adrien Monteleone > <adrien.montele...@lusfiber.net> wrote: > > Michael, > > Yep, I’m well aware. I just looked over my Mom’s filing before she mailed it > off. Certainly, having to massage the raw number two or three times with > various figures from multiple lines on several different schedules just to > figure out if her SS payments were taxable I can attest you are correct, that > my question isn’t always a simple one. > > But even an answer of ‘depends’ is an answer that you can take some action on. > > Though I don’t live in Canada, I’m still curious to see how that one should > be handled. > > Regards, > Adrien > >> On Apr 18, 2019, at 8:23 AM, Michael or Penny Novack >> <stepbystepf...@comcast.net> wrote: >> >> On 4/17/2019 6:16 PM, Adrien Monteleone wrote: >>> Someone on the list from Canada (even better, a local CPA) should offer >>> better advice, but the first question you probably want answered is, “Is >>> this taxable next year?” >>> >>> That will likely influence how you record it now. >>> >>> Regards, >>> Adrien >> Adrian, it could be worse than that (in the general case). How about SS >> pension payments here in the US? The question "is this taxable" cannot be >> answered based upon the pension payment alone because it will depend on >> OTHER income received. Thus while you could possibly "know" (barring >> unexpected events) that none of it will be taxable (your estimate of other >> income is below X) or that 85% of it will be taxable (your estimate of other >> income is above Y) what you enter COULD be wrong << in the former case you >> ended up receiving some windfall and in the latter, suffered some economic >> disaster >> But SOME of us, alas, normally have an "other" income between X >> and Y and always have a messy calculation to perform come tax time to figure >> out how much of our SS was taxable. >> >> Michael D Novack > > _______________________________________________ > gnucash-user mailing list > gnucash-user@gnucash.org > To update your subscription preferences or to unsubscribe: > https://lists.gnucash.org/mailman/listinfo/gnucash-user > If you are using Nabble or Gmane, please see > https://wiki.gnucash.org/wiki/Mailing_Lists for more information. > ----- > Please remember to CC this list on all your replies. > You can do this by using Reply-To-List or Reply-All. _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
