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New Member
posted Mar 31, 2023 8:53:12 AM

Netfile Industry Codes

THe link does not appear to be working. How do I get a correct Netfile Industry code?

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2 Replies
Level 3
Mar 31, 2023 7:12:31 PM

Some industry codes do not work for 2022. For example, codes 454300 & 454390 will no longer work for 2022. Direct Sellers must now choose codes based on what they are selling.

 

Please visit the NAICS website to find out the code based on what you are selling: https://www23.statcan.gc.ca/imdb/p3VD.pl?Function=getVD&TVD=1369825

For more information please see our TurboTax article: Finding the Right Industry Code for Your Business Tax Return

 

Thank you for choosing TurboTax. 

Level 3
Apr 1, 2023 5:59:42 AM

According to TurboTax FAQ, 

entering the proper industry code into your TurboTax return is an important step in maximizing your deductions and any items available for deduction. It's also important to stay consistent in your industry coding from year to year unless your business has drastically changed.

Use the following process to find your industry code:

  1. Visit the website for the North American Industry Classification System (NAICS)
  2. Select the code that most closely represents your work. The page will then refresh with a new set of codes
  3. Continue selecting codes to narrow down your specific area of expertise until you reach a page containing six-digit codes
  4. Choose the code that most closely represents your work, and use that as your industry code

Note: If you have income from self-employment or if you own a small business, you'll also need to enter a six-digit industry code into your tax return (the CRA’s NETFILE service will reject your tax return if you use an incorrect or outdated code). Some sectors, sub-sectors, industry groups, and industry categories include an item that belongs with “Other.” You can choose that code if you're unable to find a code that's directly relevant to your scenario

Thank you for choosing TurboTax.