Thursday, March 28, 2013

Are you self-employed?

Did you know?
As a self-employed individual, you have until midnight on June 17, 2013 to file your 2012 income tax and benefit return. Don’t forget -- you must pay any balance owing for 2012 on or before April 30, 2013, regardless of your filing date.

Important facts
  • If you earned self-employment income from a business you operate yourself or with a partner, you must report it. For more information, go to www.cra.gc.ca/selfemployed.
  • Keep thorough records if you own a business or are engaged in a commercial activity. The records have to provide enough detail to determine the taxes you owe and support the benefits you are claiming, and must be supported by original documents.
  • If you receive income that has no tax withheld or does not have enough tax withheld for more than one year, you may have to pay tax by instalments. This can happen if you receive rental, investment, or self-employment income, certain pension payments, or income from more than one job. For more information, go to www.cra.gc.ca/instalments.


Canada Revenue Agency

This a a reproduction copy of an official work that is published by the Government of Canada and that the reproduction has not been produced in affiliation with, or with the endorsement of the Government of Canada.

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