I pay rent to my Landlord for my business. the lease will end in two years.my landlord break this lease . He give me $100000 as a reward. how to i claim this reward?
I pay rent to my Landlord for my business. the lease will end in two years.my landlord break this lease . He give me $100000 as a reward. how to i claim this reward?
I pay rent to my Landlord for my business. the lease will end in two years.my landlord break this lease . He give me $100000 as a reward. how to i claim this reward?
As per the Canada Revenue Agency (CRA), Any premiums gained for breaching a lease contract is considered business income and therefore taxable. Your reward must be reported as income under your business. For information on this, check here: Premiums and Other Amounts
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