Hello Members,
I am employed person with full time job. As a part of my interest I am trying to do freelancing but Just came to know about self employ tax system in canada. I just came to canada as a PR on immigrant basis. When I calculate tax it seems I had to pay much from self employed income as I am earning from job too. I am not thinking much to register as of now untill I see good income stream getting generated. I need to start but confused how will I do tax saving. If someone help me it would be really great.
I can understand your concern, but you don’t need to worry about how to do the tax calculation. With the TurboTax line of products, you can focus on growing your self-employment business.
When you are self-employed, you will pay taxes on your extra income, but you are also eligible to claim for deductions and expenses. Please visit our Self-employment Centre for further information.
When you have earned extra income and you worry about how to file your tax, you can purchase TurboTax Live Full Service Self-Employed. This way, your tax return will be completed by our tax experts. Please check Which TurboTax product should I use if I'm self-employed? for the full line of products available for self-employed individuals.
If you worry about tax audits, you can sign up for Audit Defence. This way, you can get help when you are being audited by the CRA. If you are interested, you can check How do I sign up for Audit Defence?
As per CRA: if you do not exceed the $30,000 threshold over four consecutive calendar quarters, you are a small supplier and you do not need to register for a GST/HST account yet. Please visit When to register for and start charging the GST/HST for further details.
If you require further assistance please contact our phone support team or contact us directly on Facebook or Twitter.