The Canadian income tax system includes five specific categories of income. Identify the income category to which each of the following pertains:
1. Interest earned on a bond investment.
2. Pension income.
3. Consulting fees.
4. Profit on the sale of shares of a public corporation. The shares were acquired as a long-term investment.
5. Wages from employment services.
6. Share of profits from a partnership that operates a restaurant.
7. Dividends from the shares of a corporation that carries on a retail business.
8. Tips from customers of an employer’s business.
9. Rents from tenants of a commercial building.
10. Fees for providing piano lessons to several students.
11. Profit on the sale of land that was used by the owner for farming.
12. Profit on the sale of a summer cottage that was used by the owner for personal enjoyment.
13. Profit on the sale of land that was purchased for resale.