Quote:
Originally Posted by MoneyGuy
Oh, it's taxable.
How many people declare it, however? If they started clamping down on this, I'd venture a guess that there'd be millions of Canadians who are offenders.
|
Yeah, I figured that if the scenario I posited was accurate it would be taxable.
And you're probably right about the lax administration of the rule, but may as well let him know the law so he can make his own, informed choice as to whether to follow the letter.