All Questions
Tagged with canada self-employment
32
questions
3
votes
1
answer
110
views
How do I properly lend personal money to my own company in Quebec?
I want to finance my company with my personal money (to buy some stuff).
What is the best way to do that in an accounting point of view?
- 141
4
votes
1
answer
204
views
Changing "Tax Deduction at Source" to "Zero" - How to request your employer not to hold your taxes?
In Canada/Ontario, in both cases of permanent and contract employment, is it possible that I request my employer that they pay me my full before-tax salary and I pay the tax at the end of the year ...
- 143
1
vote
1
answer
462
views
Is it possible to get a mortgage without income verification in Canada?
For someone who has some sizeable savings but who reported very low income for the past year, is it possible to get approved for a mortgage with, say, 35% down?
In a situation when one has to pay $...
- 227
1
vote
1
answer
245
views
Self-employed: claim CPP for self on Line 9060 of T2125?
In Canada, self-employed individuals have to contribute more to the Canada Pension Plan (CPP): we have to pay both the employee and employer amount. Whereas employees just pay their employee amount ...
- 316
2
votes
0
answers
171
views
Stop filing federal annual return (Canada)
I incorporated my company several years ago and since then I've been filing both my provincial and federal annual returns (pay $20 and confirm info). According to many sources, having the federal ...
- 101
2
votes
0
answers
111
views
Do I have to pay into Canada Pension Plan (CPP) as part time contractor?
I have a fulltime job with a company but in my spare time I do some contractor work for a few clients I gathered overtime. I understand that I have to pay income tax at the end of the year over my ...
- 21
1
vote
0
answers
41
views
W8 question - regarding contract work in the US
I'm Canadian and used to work in the US randomly on visa. Now I reside full time in Canada and am doing some contract work in the US. They have asked me to complete a W9 but I do not have a visa ...
- 11
1
vote
3
answers
1k
views
Paying salary to a shareholder when the business has no revenue
I'm trying to learn about financial statements and taxes in Canada. And I'm curious if I understood something correctly when a business has zero revenue, but still pays the sole share holder a salary....
- 839
2
votes
1
answer
126
views
Canada: Taxes for income generated from pre-immigration work
I called the CRA many times regarding my question but I wasn't able to get an answer and they kept redirecting me to different people and departments.
I am now a PR in Canada, Before coming to this ...
- 23
5
votes
2
answers
321
views
Is DIY car repair work deductible in any way when self-employed?
I am self-employed and I am proficient at repairing vehicles. I use my vehicle exclusively for work: my customers ask me to drive to one of their customer's location and I provide a service on site. I ...
- 51
1
vote
1
answer
155
views
How to report Canadian income from a small contract job?
Aside from being a student in 2016, I was also was hired as a contractor to write a technical report. I recognize that this would be considered 'self-employment', but how do I report this income (I am ...
- 111
1
vote
1
answer
113
views
How should I file my taxes as a contractor?
For background, I'm an Ontario, Canada resident, and I've worked here during all of FY2016.
For the first time, in addition to mostly doing full-time work as an employee of a company, I did just over ...
- 191
2
votes
2
answers
907
views
Do I have to pay tax on money I earn as a tutor?
I am a high school math tutor in Canada and make about ten grand a year from it. I am wondering how to pay tax on this as i do not have an employer. I am payed in cash so there is no digital record of ...
- 21
3
votes
1
answer
271
views
Exemption of foreign self-employment income for dual-status tax year
Here's my timeline:
Canadian citizen, by birth, moved to US in 2003.
Living in US, granted greencard from June, 2011.
Returned to Canada in December, 2013 (permanently)
Relinquished Greencard, May ...
- 131
5
votes
1
answer
136
views
How does revenue shared with someone else go into my tax return in Canada?
I'm contracting to publish a game for someone on Apple's App Store. I will take 15% of the revenue, he gets 85%.
But Apple will report the full amount to the government. Let's say for example this ...
- 255