It’s tax time

(Mar. 19/08) The Canada Revenue Agency has issued the following reminder for employees who earn tips:

“With the 2007 income tax filing season upon us, we remind you that tips and gratuities are taxable.

In preparing to file your 2007 tax return, you may have to contact your employer to find out if any or all of your tips are included on your T4 slip.  Even if you do not get a T4 slip to show your income from tips, you are still required to report all tips received in the course of your work and report the amount on line 104 of your return.  It is your responsibility to keep track of all amounts received in the course of your employment.”

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