Tax Question (Canada)

Factual Questions
1

Suppose I’m a down on my luck kinda fellow, broke, one month away from losing my rented apartment, and on a government medical disability pension.

I survive on $1,100 per month and am unable to work.

Suppose now that I befriend Donald Trump, he takes pity on me, and he says “I like you Gus, from now on I’m going to give you $2,500 a month for the rest of your life”

I’m not doing any work for Donald Trump, he’s just giving me the money as an act of kindness.

Do I have to pay income tax on this cash?
Do I have to report it?

Thanks
Gus

2

Someone has to pay the tax. If it’s a gift, it is usually the giver: presumably he is giving it out of his income and his income is taxable. If it was Trump, though, being an American, it might be different?

If he is giving it to you on any other basis, then it’s taxable to you.

3

Thank you

4

In Canada, a personal gift that is not made to a charity is not taxable to the recipient and is not deductible by the donor.