Income derived from an instrument of debt, such as a bond See also: [dividend income]
– In general, any interest that you receive or that is credited to your account and can be withdrawn is taxable income (It does not have to be entered in your passbook ) Back to Top
By far the most common source of investment income in Canada, from bonds, GICs, CSBs, deposit accounts, and other interest-bearing investments Such income receives no tax advantage An investor pays tax at his or her marginal rate (the rate paid on their last dollar)
Earnings on investments such as savings accounts, certificates of deposit and seller-financed mortgages Banks or other organizations or individuals who pay interest usually report it on Form 1099-INT
is the type of income generated by bank deposits, bonds, GIC'S, treasury bills, fixed income investments, strip bonds and strip coupons