I live in Ontario. I have built a mobile phone app but for various technical reasons I was not able to launch it in the stores(Apple and Google) yet. The app will be generating revenue from advertising and subscription. I have a few expenses attached to this. e.g. server cost, code repository cost etc. I have purchased a computer specifically to work on this application.
I have built - but not yet launched 2 online stores:
Store 1 - selling some of my own custom art.
Store 2 - selling generic art supplies and stationary.
Both stores have server, google service fee and other cost associated with them.
I do not want to register a business - yet. For now these are all experimental. I
When I start making money from any of these sources how do I report in taxes?
P.S. Not sure if this is important but
I make slightly over $120,000 from my day job - I receive T4 from my employer.
I have a rental property that makes approximately $30,000.