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New Member
posted Mar 6, 2021 12:52:13 PM

We both received US$1200 from US government "Economic Impact Payment". Should we report this on our Canadian Income Tax return?

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Level 3
Mar 29, 2021 4:51:00 PM

You will not need to report EIP on your Canadian Income Tax return. The amount is considered an advanced payment of a 2020 refundable tax credit, and therefore is likely not income from a source under the Income Tax Act.