Canada
Tax & records in Canada
Report business income according to your structure and circumstances, and keep clear records from the beginning.
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1. Report business income
Business or self-employment income generally needs to be reported to the Canada Revenue Agency according to your structure and circumstances.
Use current CRA guidance for the income and eligible business expenses that apply to you rather than relying on a general example.
2. Keep good records
Keep records of sales and business income, purchases and eligible business expenses, invoices, receipts and any applicable tax records.
Keep supporting documents for the claims you make. This page does not decide which deductions apply to you.
3. Check GST/HST registration
Most businesses do not have to register for GST/HST while they qualify as a small supplier. The general small-supplier threshold is C$30,000 of relevant worldwide taxable supplies, but when registration starts depends on how and when the threshold is exceeded.
The CRA timing differs when the C$30,000 threshold is exceeded in a single calendar quarter and when it is exceeded over four or fewer consecutive calendar quarters.
An eligible small supplier may choose voluntary registration, but that creates ongoing GST/HST responsibilities.
Official guidance
Use the latest official guidance for your circumstances before making tax or financial decisions.
General information only — not tax or financial advice. Tax rules depend on your circumstances and can change. Check the latest official guidance or speak to a qualified adviser.