[GNC] How to treat benefit payments from government?

[gn00b]

When I file my 2019 personal income tax for income earned in 2018, the
government will send me a monthly cheque based on my 2018 income. What
should the credit side of the journal entry look like when I initially
record this? Should I be treating this as income? I know I should Debit
Benefit Receivable for the amount. When the government pays me, I know I
would Debit Bank, Credit Benefit Receivable.

If anyone is from Canada, this is referring to the Ontario Trillium Benefit
and the GST/HST Credit.



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