If I didn't take the money out but earned interest on investments is that still considered income?

If you earn interest from a bank account, a term deposit, a guaranteed investment certificate, or a similar type of investment, it is taxable.
Depends on what investments you are investing.

 

For example, If you receive over $50 of taxable interest or other investment income, you will receive a T5, Statement of Investment Income tax slip. You still have to report earned interests below $50 even if you did not receive a T-slip for them.

 

For more information, please click:

TurboTax Taxing Investments in Canada

TurboTax  Paying Taxes on Investments

 

 

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