Understand taxable receipts
Fees, allowances, offerings and cash gifts received because of religious employment or services can be taxable income. Calling a payment a love gift does not remove that connection. Employment status depends on the contractual relationship and control over the work; independent religious services or a regularly carried-on vocation are self-employment. A missionary systematically carrying on activities to make a living can have taxable trade receipts even when funded by friends, relatives or religious members.
Declare and substantiate
Report employment-related gifts under employment income and independent-service receipts under trade income. Ad hoc receipts are generally assessed by receipt date; a 2021 receipt belongs to YA 2022 in the FAQ’s example. Qualifying expenses must be wholly and exclusively income-producing and not reimbursed by the institution. Maintain proper records for five years for self-employment; estimates are insufficient. MediSave obligations are considered using net trade income rather than gross offerings alone.
Official source
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