Should I file my daytrading as business income?

[kev5]

I was daytrading for about a month daily. The positions lasted less than a day, and I put a significant amount of time into the market. Overall though, I am at a loss. Should I file this as business income? The research I've done points me to filing this as business income as I put significant time into it, frequently traded many positions daily, intent to make a profit.

[TurboTaxKim]

It does sound like you fall under the rules to report your securities transactions as Business Income. 

Here are a couple of informative articles that explain why you should be reporting your income in this manner.

https://turbotax.intuit.ca/tips/how-to-calculate-capital-gains-when-day-trading-in-canada-6251

https://www.daytrading.com/taxes/canada

[kev5]

If I only did it for a month, before I was busy with school, is this considered a hobby and I would have to file as capital gains/loss? If it makes a difference, I intended for this to be a source of income, but I had to focus on school.

[soum400]

here is some good source to find to help you:
https://www.tsinetwork.ca/daily-advice/how-to-invest/canadian-capital-gains-tax-the-cheapest-tax-you...    
https://forums.babypips.com/t/how-much-is-the-tax-on-forex-trading-in-canada/487
https://moreforexbrokers.com/

[faisalrq]

When day traders report their earnings as business income , in order to claim losses and office business expenses, do they need to incorporate or they can claim them as an individual self employed person ?