Side Hustle Money

Self-employment, GST/HST, write-offs.

Module 1 of 9

Hobby vs business — when CRA cares

What you'll learn

Intention to profit
Frequency and organization
Declaring side income even without a T-slip
Keeping a simple logbook from day 1

The Canadian number

$0 — there isn't one

Tax-free self-employment threshold

Source: CRA

The story

Canada has NO tax-free threshold for self-employment income. Even $100 in side income is technically reportable. CRA cares about frequency, intention, organization. An Etsy hobby that makes $200/year? Grey area. An Etsy shop making $5,000? Definitely business.

This week's action

Open a separate chequing account for your side hustle. Never mix with personal.