Special rules apply for income from property (including money) one family member lends or transfers to another. See Loans and transfers of property and interpretation bulletins IT-510 and IT-511.
Generally, when you invest your money in your child's name, you must report the income from those investments. However, if you deposited Canada child benefit payments into a bank account or trust in your child's name, the interest earned on those payments is your child's income.
For children born in 1999 or later who report certain investment income, see Split income of a child under 18.
Special rules apply for income from property (including money) one family member lends or transfers to another. See Loans and transfers of property and interpretation bulletins IT-510 and IT-511.
Generally, when you invest your money in your child's name, you must report the income from those investments. However, if you deposited Canada child benefit payments into a bank account or trust in your child's name, the interest earned on those payments is your child's income.
For children born in 1999 or later who report certain investment income, see Split income of a child under 18.
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