What makes up Gross income for Financial Statements

[momto3]

I am trying to fill out a new financial statement as I am asking the court in a motion for s.7 expenses. It is asking for Gross income from all sources for last year, I am including my job, and spousal support because that is a taxable income. Do I also include child support and CCTB and Universal Tax Benefit?

[Gary M]

Calculation of annual income

16. Subject to sections 17 to 20, a spouse's annual income is determined using the sources of income set out under the heading "Total income" in the T1 General form issued by the Canada Customs and Revenue Agency and is adjusted in accordance with Schedule III.

SCHEDULE III

(Section 16)

ADJUSTMENTS TO INCOME

Child support

2. Deduct any child support received that is included to determine total income in the T1 General form issued by the Canada Customs and Revenue Agency.

Spousal support

3. (1) To calculate income for the purpose of determining an amount under an applicable table, deduct the spousal support received from the other spouse.

Here's everything you need to know in order to determine "Total Income" -

General Income Tax and Benefit Guide - 2011 : Total income

Cheers!

Gary