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artbygam
New Member

Odsp and federal tax. Personal income amount to submit to cra should be half?

Odsp takes half of money earned so lets say 5000 earned.  Half of that goes toward odsp T5.  So can I only claim the other half 2500 as personal income as I am being taxed on the 2500 toward odsp and if I state personal income 5000 I would be showing income twice.

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Accepted Solutions

Odsp and federal tax. Personal income amount to submit to cra should be half?

You report the T5007 like any other tslip. Do not reduce or split it in any way.  The money you earned and was taken off ODSP will not show on the T5007.

Turbotax knows that ODSP is not taxable income. 

Did you receive a T4 for the other income? 

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2 Replies

Odsp and federal tax. Personal income amount to submit to cra should be half?

You report the T5007 like any other tslip. Do not reduce or split it in any way.  The money you earned and was taken off ODSP will not show on the T5007.

Turbotax knows that ODSP is not taxable income. 

Did you receive a T4 for the other income? 

artbygam
New Member

Odsp and federal tax. Personal income amount to submit to cra should be half?

No self employed artist.  Thanks