Quote:
Originally Posted by Zevo
I bartended for years. I only claimed a small portion of my tips. Only enough to hopefully keep me off Revenue Canadas radar...which it did.
Why would I declare income that I can't use to get a mortgage or a loan of any kind. Seemed like a fair tradeoff.
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If your income stated on your tax returns/NOAs is shown to be consistant you should be able to use it as income for a loan/mortgage application.
Unless you're referring to not being able to use income that you don't claim but I think the answer to that should be obvious.