Are honorariums taxable?
Bookkeeping work that was previously unpaid volunteer work is now receiving a monthly honorarium.
This is for a soccer assoc. so I guess they aren't registered for payroll and do it as an honorarium.
What are the tax implications for the receiver of this honorarium? Is he supposed to claim the honorarium on his personal income tax (even though he has no tax slip). If he does I imagine he would have to pay CPP and EI on the honorarium?
I think you might want to visit The Tax Guy
at blog.taxresource.ca. He has a question section and is probably more versed in tax matters than I am.
You may also want to check out CRA's special payment chart on honorariums subject to CPP & EI
If you are a self-employed bookkeeper, I'd just take the monthly amount into income ... which is what you should also do if you receive tips / bonuses from your clients.P.S. I would like to remind you there is a difference between information and advice. The general information provided in this post or on my site should not be construed as advice. You should not act or rely on this information without engaging professional advice specific to your situation prior to using this site content for any reason whatsoever.