Question

If I didn't take the money out but earned interest on investments is that still considered income?

Forum|Forum|4 years ago
April 7, 2022
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If you earn interest from a bank account, a term deposit, a guaranteed investment certificate, or a similar type of investment, it is taxable.
Depends on what investments you are investing.

For example, If you receive over $50 of taxable interest or other investment income, you will receive a T5, Statement of Investment Income tax slip. You still have to report earned interests below $50 even if you did not receive a T-slip for them.

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