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Level 2
posted May 3, 2025 6:45:16 PM

My return is going down as I add small business deductions. As small business owners are we obligated to report expenses?

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1 Replies
Moderator
May 9, 2025 8:01:06 AM

No, you don't have to claim expenses against your Self-Employment income. 

 

The likely reason why your Self-Employment expenses are reducing your tax refund is because they are reducing your income to below the level needed to qualify for the Canada Workers Benefit (CWB).