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What is Line 15000 Tax Return (formerly Line 150) in Canada? Total Income!

Wondering what is line 15000 on tax return (formerly Line 150) is? Line 15000 tax return lists your total income before deductions, it is also referred to as your gross income.

Your total income in Line 15000 includes not only your wages or salary that was reported on your T4 – Statement of Remuneration but also income earned from other sources that were not reported on an information slip.

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By the time you finish reading this article, you will understand everything about Line 15000 tax return. Let’s get on with it.


What is Line 15000 on Tax Return?

Line 15000 is where you show your gross income before deductions on your CRA tax return form. This line 15000 was formerly known as line 150.

The gross or total income you indicate here is not all subject to tax. It is merely all the money you make from all your financial sources. The money subject to taxes is the taxable income. 

What’s the Use of Line 15000? When is it Necessary to Know my Total/Gross Income?

You must wonder, what’s the use of line 15000 if the total income isn’t directly needed to calculate the amount of taxes I will pay?

The government, a bank, or another institution may need to know your total income or what’s mentioned on Line 15000 of your most recent tax return in a variety of scenarios. Consider the following scenario:

  • For registering for or accessing your CRA My Account online.
  • For legal reasons, such as calculating spousal or child support payments.
  • To receive or refinance a loan, credit card, line of credit, or mortgage.

What Income Sources Contribute to Income on Line 15000 Tax Return?

The income on line 15000 can be from any of the below sources:

  • Benefits from any pension plans
  • Investments
  • Partnerships
  • Rental Incomes
  • Employment insurance
  • Capital gains
  • RRSP Income
  • Self-Employment income
  • Federal Supplements
  • Worker Compensation benefits
  • Scholarships, allowances, or grants
  • Social Assistance Payments

All the above added together will give you line 15000 total incomes. Thanks to free online tax software, you don’t have to do the calculations yourself. All the totals are calculated automatically by the tax returns software. All you have to do is key in the amounts.


What Makes up Total Income?

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To get your total income, you will need to add figures from lines 10400, 14300, 10100, and 14700. Tax software can help with this.

So, the sum of all the values in the above lines will give you the value to put in line 15000.

  • Line 10100 – for your regular employment income
  • Line 10400 – for any other employment income apart from the main
  • Line 14300 – for self-employment income and
  • Line 14700 – Workers’ compensation, net federal supplement and social assistance you report on Line 14700.

Remember the above values aren’t your taxable income. To get the taxable income, you must subtract all the deductions. If you are using CRA-certified tax software, then the income report will easily generate itself with the software.


FAQs: Line 15000 on Tax Return

Is Line 15000 the Same as 10100?

No, they are not the same. The amount on line 10100 is a tax-filers Employment Income, whereas the total sum on line 15000 is made up of all sources of income – Total Income.

Where is Line 15000 on my Tax Return?

Line 15000 on the T1 tax return is to the Total Income (gross) before any deductions (it was formerly 150). To figure out the number on line 15000 on your tax return, simply add the figures from lines 10100, 10400, 14300, and 14700.

What is Line 150 on Your Income Tax Return?

On your T1 tax return, line 150 represents your total earnings before deductions. This is now Line 15000. You can calculate the number on line 150 by adding the amounts on lines 101, 104, 143 and 147 of the tax return.


What is Line 15000 on Tax Return? Final Thoughts

If you were wondering what is line 15000 on tax return, we hope you now understand all it is about. It is the total income from all your income sources and was formerly known as line 150.

READ ALSO:

> Best Free Tax Software in Canada
> What is Line 10100 on Tax Return

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