The most significant tax-free receipt is the principal residence exemption. However, there is other income that is not taxed, such as:
- inheritances and bequests from a deceased person
- any gifts, provided they are not disguised as employment income or business income
- certain employment benefits, such as
- the payment from a private health services plan
- $500 in non-cash gifts and awards per year, such as for birthday or Christmas.
- A separate non-cash award for long service or anniversary up to $500. It must be for at least 5 years of service and at least 5 years since the last such award.
- Uniforms, special clothing or safety footwear that you need for your job.
- Special COVID- related grants to seniors and persons with disabilities are non-taxable
- Compensation for mental or emotional damage at the workplace, such as harassment of an employee, or for human rights violations.
- Damages or compensation for personal injury.
- Reimbursement of expenses to volunteers.
Worker’s Compensation benefits. These must be reported as income, but an offsetting deduction is available when calculating taxable income.
