In addition to my full time job, I started refereeing in 2015. I needed to purchase clothing and other accessories for this occasional work. For the referee work, I am obviously not "employed" like a normal job. I get no T4. Do I create a business for this or can the expenses and income be claimed as occasional earnings or something like that?
If it isn't a significant amount of income, you can report it as income not on a T4 slip. You will find that under the income tab. Bear in mind that clothing is not deductible as there is a Canada employment credit of $1,146 which is expect to help absorb some of those costs.
If it isn't a significant amount of income, you can report it as income not on a T4 slip. You will find that under the income tab. Bear in mind that clothing is not deductible as there is a Canada employment credit of $1,146 which is expect to help absorb some of those costs.
Thank you. What is and what isn't a significant amount of income?
I would think that if it is regular payments, through part of the year, and amounted to $3,000 or over, you would be better off to report it as self-employment. That allows you to take deductions for expenses, such as travel, a portion of vehicle costs, etc, rather than just reporting the whole amount as income.