I was told annuity payments should not count as income if a result of purchases for personal goods but receive a T4A because of tax taken; do I need to claim as income?
The coop issues annuity cheques as a percentage of goods and services purchased throughout the year. They instructed that the amounts do not need to be included as income if they small payments and are a result of purchases for personal use. How do I claim the income tax paid but not the income the deduction is based off?
I was told annuity payments should not count as income if a result of purchases for personal goods but receive a T4A because of tax taken; do I need to claim as income?
You need to report the T4A slip on your income tax. If you feel the T4A slip was issued in error, you need to talk to the issuer of the slip.
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