As a self-employed Canadian, you must report business income and expenses on your personal tax return, remit Canada Pension Plan (CPP) contributions, and collect and remit GST/HST if applicable. Understanding deadlines, eligible deductions, instalment requirements, and record-keeping obligations is key to compliance and tax efficiency.
Self-Employed Status
A person is self-employed if they carry on a business as a sole proprietor, independent contractor, freelancer or professional. They have control over how, when and where the work is done. Income from gig platforms (e.g. ride-sharing, delivery) or sales of goods/services through one’s own business must be reported.
Reporting Business Income
All revenue earned from self-employment, such as fees, sales, commissions, tips, digital-platform income, commission income, and other income from internet business activities, must be reported on Form T2125 (Statement of Business or Professional Activities) as part of the T1 Income Tax and Benefit Return. This ensures the Canada Revenue Agency (CRA) knows the total amount of money you brought in through your business during the taxation year. This total is your gross business or professional income and is your revenue before subtracting any costs or expenses related to earning this income.
Gross business income is the starting point for tax purposes and includes all sales and other receipts related to your business operations. Record this accurately and completely as it’s the basis for the tax calculations.
From gross income, you subtract deductible business expenses to calculate your business net income. These expenses must be reasonable and directly related to your business, such as advertising, office supplies, home office deductions, vehicle expenses when used for business, professional fees, and capital cost allowance on long-term assets.
The resulting net business income is your profit or loss and is the amount subject to income tax upon which CPP contributions are calculated. Completing Form T2125 with detailed income and expense reporting fulfills your tax obligations and can reduce your taxable income through legitimate deductions.
If you have multiple business activities, you must complete a separate Form T2125 for each. The form also requires key information such as business name (if any), social insurance number, business number (if registered), and industry classification code.
Deductible Expenses
Eligible business expenses must be reasonable, incurred to earn income, and properly documented. Common categories include:
Self-Employed Home Office Tax Deduction
Self-employed individuals in Canada can deduct various home office expenses if they use part of their home as a workspace and meet specific criteria. According to the Canada Revenue Agency (CRA), to claim business-use-of-home expenses, the workspace must be either the principal place of business or used exclusively and regularly to meet clients, customers or patients. Note you cannot use home office expenses to create a business loss. Any unused expenses can be carried forward and generally applied against income in future years.
The allowable home office expenses that can be deducted are:
- Rent: If you rent your home, you can deduct the portion of rent attributable to your workspace based on its size relative to the total home area.
- Utilities: Heat, electricity, water and gas expenses can be deducted proportionally.
- Home insurance: A portion related to the workspace is deductible.
- Cleaning and maintenance costs: Costs associated with maintaining and cleaning the workspace can be partially claimed.
- Property taxes: You may deduct a portion of property taxes if you own your home.
- Mortgage interest: A percentage of mortgage interest related to the workspace is deductible.
- Condo fees: If applicable, condominium fees on the workspace portion can be included.
- Capital Cost Allowance (CCA): You may claim CCA on the business-use portion of your home, such as the building itself, but be aware of implications for capital gains when selling the home.
The portion of these expenses you can deduct is generally calculated by dividing the workspace area by the total home area. If the workspace is used partly for personal purposes or only part of the day, the claim should be adjusted based on the actual business use in hours or days.
Let’s look at an example of claiming a self-employed home office tax deduction.
Suppose your home is 1,500 square feet, and the workspace you use for business is 300 square feet, which is 20% of your home’s area. However, you only use this space for work 33% of the time (about 8 hours daily out of 24 hours).
To calculate the deductible portion of home expenses, you multiply the percentage of your home used as your workspace (20%) by the percentage of time it is used for business (33%), resulting in 6.6% (20% x 33%). You can deduct 6.6% of eligible home expenses such as rent, utilities, property taxes and maintenance. For example, if your annual rent and utilities cost $15,000, your tax deduction would be $990 ($15,000 x 6.6%). This method adjusts for shared use or partially personal use of the home office space, aligning the deduction with actual business use to comply with CRA rules.
This same methodology applies if you use a common or shared area rather than a designated room. You calculate business hours usage in the space relative to total hours in a week and apply this to the space’s portion of your home.
To support business use for home office expenses, retain documentation on workspace measurements, time logs and receipts for all expenses claimed.
Vehicle Expenses
Self-employed taxpayers can deduct vehicle expenses proportional to business use. The CRA requires detailed documentation through a mileage logbook and receipts for all vehicle-related costs.
Eligible Vehicle Expenses
You can claim the business-use percentage of the following costs:
- Fuel and oil: gasoline, diesel or electricity for zero-emission vehicles
- Insurance: liability and collision coverage premiums
- License and registration fees: annual vehicle registration and plate renewal
- Maintenance and repairs: oil changes, tire rotations, brake repairs, car washes
- Lease payments: monthly lease costs (subject to CRA limits)
- Loan interest: interest paid on vehicle financing (not the principal)
- Capital Cost Allowance (CCA): depreciation for owned vehicles (claimed on a separate schedule)
- Parking fees: 100% deductible for business purposes, even if the vehicle has mixed use
Calculating Business-Use Percentage
Divide business kilometres by total kilometres driven annually to determine the deductible percentage. For example, if a consultant drives 30,000 km annually with 18,000 km of business travel (client meetings, supplier visits, conferences) and 12,000 km of personal use (commuting home to regular office, errands, weekends), the business use percentage is 60% (18,000 ÷ 30,000).
Let’s assume the following annual vehicle costs were incurred:
- Fuel: $3,200
- Insurance: $1,800
- Maintenance: $900
- Registration: $150
- Loan interest: $750
- Parking (business): $200
Business portion of vehicle expense is $4,080 (60% x ($3,200 + $1,800 + $900 + $150 + $750)) plus 100% business parking of $200, for a total of $4,280.
CRA Logbook Requirements
For each business trip, record the date of travel, starting point and destination (with specific addresses), purpose of business trip, kilometres driven for that trip, and odometer readings at the start and end of each fiscal year.
What Counts as Business Use
Here are some common scenarios that are considered business use:
- Driving to client or customer locations
- Picking up business supplies or inventory
- Attending conferences, trade shows or networking events
- Banking or post office trips for business
- Travelling between multiple work sites in a day
- Airport trips for business travel
What Does NOT Count as Business Use:
Here are some common scenarios that are not considered business use:
- Commuting from home to your regular place of business or main office (even for home-based businesses travelling to a principal work location)
- Personal errands, groceries or social visits
- Weekend or vacation driving unrelated to business
Supplies, advertising, professional fees
Supplies include everyday items consumed during business operations, such as paper, printer ink, office stationery and software subscriptions used for business purposes. For example, a graphic designer purchases design software licenses and printer cartridges, which are fully deductible because they are essential to creating client work.
Advertising costs for promoting a business are deductible, including ads in Canadian newspapers, radio and television stations and digital advertising such as social media ads and website promotions. Advertising on foreign broadcasters is not deductible if targeted to a Canadian market. There are restrictions for advertising in periodicals depending on the editorial content aimed at Canadian audiences. For instance, if a clothing retailer runs Facebook ads targeting Canadian customers, those expenses are fully deductible. Similarly, fees paid for business cards, promotional gifts or finder’s fees can be claimed.
Professional fees paid to accountants, lawyers, consultants or other professionals providing services directly related to the business are deductible. For example, a freelance writer paying an accountant for tax preparation and legal fees for business incorporation would claim these costs as legitimate business expenses.
Capital cost allowance on capital assets
Capital Cost Allowance (CCA) is the CRA’s method of allowing businesses to recover the cost of depreciable assets through annual tax deductions. Instead of expensing the entire cost in the purchase year, CCA spreads the deduction over time using a declining balance method. Different types of assets are assigned to specific CCA classes, each with its own depreciation rate.
Common CCA Classes and Rates
The most frequently used classes for self-employed businesses include:
- Class 8 (20%) – Office furniture, computers, tools, light machinery and general equipment. Examples include desks, filing cabinets, printers, photocopiers and routers.
- Class 10 (30%) – Motor vehicles and mobile equipment used for business. Examples include delivery vans, service vehicles and forklifts.
- Class 12 (100%) – Small tools under $500 and certain software with a limited useful life. These can be expensed immediately.
- Class 50 (55%) – General-purpose electronic data-processing equipment (computer hardware) and systems software for that equipment. Common examples include computer hardware such as desktops, laptops and servers.
The Half-Year Rule
Only 50% of an asset’s cost is eligible for CCA calculation in the year it is acquired. This rule recognizes that assets are not in use for the entire year of purchase. The remaining 50% enters the calculation in subsequent years.
Let’s look at an example of calculating and claiming CCA using Class 8 (20% rate).
A freelance designer purchases a $10,000 office desk and filing cabinet system (Class 8, 20% rate). Here are the CCA calculations for years 1 to 3:
- Year 1: Apply half-year rule: $10,000 x 50% = $5,000. CCA deduction: $5,000 x 20% = $1,000. Remaining Undepreciated Capital Cost (UCC): $10,000 – $1,000 = $9,000.
- Year 2: $9,000 x 20% = $1,800. Remaining UCC: $9,000 – $1,800 = $7,200.
- Year 3: $7,200 x 20% = $1,440. Remaining UCC: $7,200 – $1,440 = $5,760.
The deduction continues annually on the declining balance, allowing the business to defer recognizing the full expense.
Business Travel and Meals
Business travel expenses, such as airfare, accommodation and ground transportation, are fully deductible when incurred for business purposes. Meals and entertainment expenses are 50% deductible for business purposes (meeting clients, attending conferences, and networking events).
The 50% limitation applies only to meals and entertainment. The CRA considers that personal benefit is derived from eating and entertainment, so only half the cost qualifies as a business expense. Travel-related costs like flights and hotels are considered purely business-related and are fully deductible.
Key rules for deductibility
Meals and entertainment are only deductible if there is a direct business connection. The meal or entertainment must occur where business is discussed or conducted. Casual personal dining does not qualify, even if you discuss work matters informally.
You must keep detailed records showing the date, amount, attendees, location and business purpose of each meal or entertainment expense. A receipt is not enough; you need to document the business purpose of the cost incurred.
Let’s look at a few common scenarios of business travel and meal expense claims.
Example 1 – Standard business meal: A self-employed marketing consultant meets with a potential client for lunch to discuss a new project proposal. The meal costs $120 and the deductible amount is $60 ($120 x 50%).
Example 2 – Multi-day business travel: A freelance developer travels to a professional conference in another province. Expenses include $450 flight, $600 hotel ($200 per night for 3 nights), $80 in ground transportation (taxi, rental car), and $150 in meals during the trip. The business deduction calculation is as follows:
- Flight: $450 (100% deductible)
- Hotel: $600 (100% deductible)
- Ground transportation: $80 (100% deductible)
- Meals: $150 x 50% = $75 (50% deductible)
- Total deductible: $450 + $600 + $80 + $75 = $1,205
Example 3 – Client entertainment with mixed personal benefit: A business owner takes a client to dinner at a fancy restaurant to discuss a contract. The meal costs $200 and they also attend a sporting event afterward, costing $600 ($300 per ticket for two tickets). For the meal, $100 is deductible ($200 x 50%). For the entertainment, $300 is deductible ($600 x 50%). The total deductible entertainment expense is $400.
Example 4 – Travel with personal component: A consultant travels to a business conference but extends the trip for vacation. The conference registration is $500, airfare is $400 and accommodation is $1,200 for 7 nights (conference is only 3 days). Only the portion directly related to business is deductible: $500 (conference) + $400 (airfare) + ($1,200 × 3/7 nights) = $1,414.29. The remaining hotel nights are personal expenses and non-deductible.
Important considerations
Alcohol consumed during a meal is subject to the 50% limitation. Non-alcoholic beverages at business meals also fall under the 50% rule.
Season tickets or memberships to entertainment venues (golf clubs, theatre subscriptions) are generally limited to 50% deductibility if used for business entertainment.
Tickets purchased for entertainment events where you do not attend (e.g., giving tickets to clients) may still qualify for the 50% deduction if there is a clear business purpose, such as client development or relationship building.
Canada Pension Plan (CPP) Contributions
Self-employed taxpayers must pay both the employee and employer portions of Canada Pension Plan (CPP) contributions on their net business income exceeding the basic exemption amount of $3,500. For 2025, the combined CPP contribution rate totalling 11.9% applies (5.95% employee + 5.95% employer), up to maximum contributory earnings of $67,800. This means the maximum CPP amount a self-employed person can contribute is $8,068.20.
How to Calculate and Report CPP Contributions for Self-Employed Individuals
Here are the steps to calculate and report CPP contributions:
- Calculate Pensionable Earnings: Subtract the basic exemption of $3,500 from your net business income after expenses. For example, if your net income is $50,000, your pensionable earnings would be $46,500 ($50,000 – $3,500).
- Apply the Combined Contribution Rate: Multiply the pensionable earnings by 11.9% to get your total CPP contribution. For $46,500 pensionable earnings, the CPP contribution is $5,533.50 (46,500 x 11.9%).
- Account for Maximum Contribution: If the calculated contribution exceeds the maximum limit of $8,068.20, you only pay the maximum.
- CPP2 (Enhanced CPP) Contributions: For earnings above the standard limit ($71,300) up to $81,200, an additional 4% employee and 4% employer contribution applies (8% total for self-employed), up to a maximum additional contribution of $792. This applies if income surpasses the maximum pensionable earnings.
- Reporting on Tax Return: Calculate contributions using Schedule 8 of the T1 return and report the total contribution on line 42100.
Tax Treatment
The employer portion (half of total contributions) is deductible as a business expense, reducing taxable business income. The employee portion qualifies for a 15% federal non-refundable tax credit on your personal income tax return.
Let’s look at an example of these tax treatments.
A self-employed consultant makes $70,000 net business income. Pensionable earnings is $66,500 (70,000 – 3,500), and the CPP contribution is $7,913.50 (66,500 x 11.9%). The employer portion of $3,956.75 (7,913.50/2) is deductible as a business expense. The employee portion is eligible for a 15% tax credit, which equals $593.51 (3,956.75 x 15%).
Employment Insurance (EI)
Self-employed individuals in Canada can voluntarily register for Employment Insurance (EI) special benefits, which provide financial support for situations such as maternity, parental, and sickness leave. To access these benefits as a self-employed person, you must register through the Canada Revenue Agency (CRA) or Canada Employment Insurance Commission and pay EI premiums annually based on your self-employment income when you file your tax return.
EI Registration and Payment Details for 2025
You must register online through your My Service Canada Account. Once registered, you pay EI premiums based on your net self-employed earnings. Your EI agreement must be in place for at least 12 months before you can claim benefits.
EI premiums are calculated on your yearly self-employed income and paid annually by April 30 of the following year when you file your tax return.
For 2025, the maximum insurable earnings is $65,700, and the employee rate is 1.64% up to a maximum premium of $1,077.48. There’s no employer portion because you pay the full premium for the benefits you elect as a self-employed individual.
To qualify for benefits, you must have reduced your business activity by more than 40% for at least one week due to maternity, parental leave, sickness or caregiving reasons, and you must have earned a minimum amount in self-employed income (e.g. $8,826 net earnings in the previous calendar year for 2025 claims).
Let’s look at an example.
Sarah is a self-employed consultant who registers for EI special benefits in January 2025. Her net self-employment income for 2025 is $50,000. She pays EI premiums based on 1.64% of $50,000 = $820, which she remits when filing her 2025 tax return in April 2026. After being registered for over 12 months, Sarah became pregnant and reduced her working hours due to maternity leave. She can then apply for EI maternity benefits, receiving weekly payments capped at approximately $695 (55% of her average earnings), provided she meets all eligibility criteria.
GST/HST Registration and Remittance
If your taxable supplies (sales of goods and services that are subject to GST/HST) exceed $30,000 over four consecutive calendar quarters or in a single calendar quarter (especially relevant for gig economy workers like rideshare or taxi operators), you are required by the Canada Revenue Agency (CRA) to register for a GST/HST account.
Once registered, you must charge GST/HST on your invoices at the applicable rate depending on your province (e.g. 13% in Ontario). You hold the collected amounts in trust for the government and must file regular returns electronically.
You can report and remit your GST/HST using one of two methods:
- Detailed method: You claim Input Tax Credits (ITCs) for the actual GST/HST you paid on your business purchases and expenses, which reduces the amount you have to remit.
- Quick method: Instead of tracking actual GST/HST paid on inputs, you remit a fixed percentage of the GST/HST collected (for example, remit 8.8% of the 13% HST collected in Ontario) and keep the remainder. This simplifies bookkeeping but may result in higher taxes than under the detailed method if your input tax credits are high.
Let’s look at an example of GST/HST using the detailed method (regular method).
You are a self-employed consultant in Ontario who has exceeded the $30,000 registration threshold. You charge your clients 13% HST on your services and collect $13,000 in HST over a reporting period.
Using the detailed method, you calculate that you paid $3,000 in GST/HST on business expenses (office supplies, travel, software subscriptions). You can claim this $3,000 as ITCs, so you remit $13,000 – $3,000 = $10,000 to CRA.
Instalments
Instalments are periodic tax payments made throughout the year to help you, as a self-employed individual, cover your annual tax liabilities in advance, reducing the risk of a large lump-sum payment at tax time. There are two types of instalments to consider: personal tax and GST/HST.
Personal Tax Instalments
If your net tax owing (including Canada Pension Plan (CPP) contributions) is more than $3,000 in the current year or either of the two preceding years, the CRA will require you to make quarterly instalment payments.
These payments are due on March 15, June 15, September 15 and December 15. If a due date falls on a weekend or holiday, the deadline moves to the next business day.
The CRA will send you an instalment reminder in February and August, showing the amount due based on your previous tax returns. However, you are responsible for paying even if you don’t receive a notice.
Instalments are calculated in one of three ways: using the CRA’s suggested amount (based on prior years’ tax), making payments based on expected tax for the current year, or paying a qualifying amount to avoid interest charges. For example, if you owed $8,000 in net tax in 2025, you would divide this by four and owe $2,000 each quarterly instalment for 2026. If you anticipate a lower annual tax for 2026, you may adjust the instalments accordingly, but risk instalment interest if you underpay.
GST/HST Instalments
In addition to income tax obligations, if you are registered for GST/HST and your net GST/HST owing was $3,000 or more in the previous year, you must also remit GST/HST instalments quarterly in the current year.
GST/HST instalments are due on April 30, July 31, October 31, and January 31. These instalments cover the portion of GST/HST you collect that is owed to the CRA, so you are not faced with a large balance at year-end.
For example, if your business collected $15,000 GST/HST last year with $3,000 owed to CRA, you will make four equal GST/HST instalments in the current year, each $750, to cover that liability.
Missing Instalments
Not paying instalments or paying less than the required amount on time will result in interest charges and penalties from the CRA. Instalment interest is charged daily on overdue amounts and is compounded quarterly, so timely payments are crucial to avoid extra costs.
Instalment is not required in your first year of business. The general rule for first year of operation is to set aside 30% of income to pay for your taxes.
Filing Deadlines and Penalties
For self-employed individuals, the personal tax return is due on June 15, but any balance owing must be paid by April 30 to avoid interest.
The self-employed GST/HST return is also due on June 15, and any balance owing must also be paid by April 30 to avoid interest.
The penalties for late filing start at 5% of the unpaid tax plus 1% per month late, up to a maximum of 12 months. Repeated failure can double the penalties.
Record-Keeping Best Practices
Keep all source documents for six years
The CRA requires you to keep all supporting documents for at least six years from the end of the tax year they relate to. This includes daily income and expense records, cancelled cheques, credit card statements, invoices, and ticket stubs. If you file your tax return late, the six-year retention period starts from the date you filed, not the end of the original tax year. Store all records (paper or electronic) in Canada unless you obtain written CRA permission. Records must be clear, legible, and organized for a potential CRA audit.
For example, if you file your 2025 tax return on time (by June 15, 2026), retain all 2025 records until December 31, 2031. If you file late on September 1, 2026, keep records until September 1, 2032.
Mileage Log for Vehicle Expense Claims
Keep a separate mileage log for each vehicle used for business. Required details include date, starting and ending odometer readings, total kilometres driven, destination, business purpose, and driver name (if multiple drivers). Entries must be made daily (not retroactively), be legible, and show no alterations or estimations. CRA accepts closed-format logbooks (bound books or smartphone apps that prevent post-modification). You may use a simplified method after establishing a base-year logbook (full 12 months). This includes maintaining a 3-month sample logbook and applying that business-use percentage to calculate annual deductions, provided it stays within 10% of the base year.
For example, a sales representative drives on January 5, 2025. The starting odometer is 45,230 km, and ends at 45,310 km (80 km total). The destination is “Client meeting at ABC Corp,” and the purpose is “Business development” with 80 business kilometres. If the representative drove 18,000 business km out of 30,000 total km for the year (60% business use), and total vehicle costs were $8,000, the deductible amount is $4,800.
Home-Office Floor Plan and Calculations
Keep a sketch or floor plan of your home showing the office dimensions and written calculations of the business-use percentage. Document the total square footage of your home and the dedicated office space used exclusively and regularly for business. This substantiates your claim if the CRA requests verification. For example, a consultant prepares a floor plan showing a 12 ft x 12 ft office (144 sq ft) within a 1,500 sq ft bungalow, labelled “Home Office at 9.6% Business Use.” Attach calculations: $2,000 (monthly rent) x 12 x 9.6% = $2,304 annual deduction, plus $300 (utilities) x 12 x 9.6% = $345.60, totaling $2,649.60.
Incorporation Considerations
Salary attracts CPP contributions and payroll remittances
When an incorporated business pays the owner a salary, the corporation deducts it as a business expense, reducing taxable corporate income to zero (or the net amount after the salary). The owner reports the salary received as personal income and is subject to their marginal tax rate. Both the employer (corporation) and employee (owner) must contribute to CPP, a combined 11.9% on earnings between $3,500 and $67,800. While this increases overhead costs, it simultaneously builds the owner’s CPP contribution history, resulting in higher future retirement benefits and CPP eligibility.
Paying a salary is more beneficial for mortgage qualification and RRSP contribution room. The owner builds RRSP room (18% of gross salary up to an annual maximum of approximately $30,780) and demonstrates stable employment income to lenders.
Let’s look at an example of paying salary and wages.
A consultant incorporated business earns $100,000. The owner pays themselves a $100,000 salary. The corporation deducts the $100,000, reducing corporate taxable income to $0, so no corporate tax is owed. The owner reports $100,000 as personal income. On this salary, both the corporation and the owner contribute to CPP: approximately $5,900 each (total $11,800). The owner builds $18,000 in RRSP contribution room for that year.
Dividends avoid CPP but do not generate RRSP contribution room
Dividends are distributions of after-tax corporate profits. Unlike salaries, dividends are not deductible at the corporate level. The corporation pays corporate tax first (typically 12–20% depending on province and income level), then distributes remaining funds as dividends to shareholders. The owner reports dividends on their personal tax return and pays personal tax on them. However, the dividend gross-up and dividend tax credit mechanism ensures the total tax paid (corporate + personal combined) approximates what would be paid if the income were earned personally, a concept called “integration”.
Critically, dividends do not trigger CPP contributions. Neither the corporation nor the owner contributes to CPP, forfeiting both current payments and future retirement benefits. Dividends also generate zero RRSP contribution room for the owner. For individuals near or in retirement, dividends may appeal because they lower the current personal tax burden and offer cash flexibility. However, dividends are disadvantageous for those building retirement savings or seeking mortgages.
Incorporation may defer personal tax and limit liability, but adds administrative complexity
Incorporation creates a separate legal entity, shielding the owner’s personal assets from business liabilities. The corporation can retain earnings and reinvest them at the lower corporate tax rate rather than distributing all profits immediately, deferring personal taxation. This tax deferral allows businesses to accumulate capital for growth or contingencies. However, incorporation incurs higher setup costs (legal and accounting fees), annual compliance requirements (filing corporate tax returns, maintaining bookkeeping records, payroll remittances if using salary), and ongoing administrative burden. Additionally, integration is imperfect in Canada. Depending on income levels and provincial rates, salary and dividend strategies may create different net tax outcomes, requiring careful tax planning.
Let’s look at an example.
A self-employed consultant earning $150,000 incorporates. They pay themselves a $60,000 salary (for RRSP room and mortgage eligibility), triggering CPP and payroll remittances. The remaining $90,000 corporate income is retained in the corporation and taxed at 12.2%, resulting in approximately $79,000 after corporate tax. This retained $79,000 can be reinvested in equipment, marketing or emergency reserves without triggering immediate personal tax. When the owner needs funds, they can take dividends on the retained earnings, potentially triggering some personal tax at a later date when their income may be lower. Meanwhile, their personal assets remain protected if the corporation faces liability.
Incorporation usually makes sense when annual net business income is $80,000 to $100,000 and you don’t need to withdraw all profits immediately. Many established business owners use a hybrid approach, taking salary (for RRSP room, CPP and mortgage eligibility) and dividends (for tax efficiency on retained profits).
Contact Us
Talk to our tax accountant today, and we will help you get the best outcome for your self-employed taxes. We will ensure you follow the framework to report your income accurately, maximize your deductions, remit CPP on time and GST/HST by the due date. If you are unsure if you should incorporate your business, our corporate tax accountant would be happy to advise.
