Does the CESB imply that I need to file my taxes as a resident of Canada and therefore undergo taxation on my foreign income?

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Your CESB is a taxable benefit that you are required to report on your tax return. The CRA did not withhold taxes from the payments, so you will be taxed on the full amount. The amount you received in Box 198 will be shown on a T4A slip. Include this amount on line 13000 of your tax return.

 

Residents of Canada are subject to income tax on their worldwide income. Therefore, the individual must report foreign source income such as foreign employment income, foreign investment income, foreign pension income, etc. on their income tax return every year.

 

Please visit the links provided for further clarifications on CESB and foreign income

• TurboTax:  Canada Emergency Student Benefit (CESB)
• TurboTax: How do I report foreign income, foreign pension, and other foreign amounts?

 

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