Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
CanadaEnglishEN

Pick a language

CanadaFrançais United States of AmericaEnglish
cancel
Showing results for 
Search instead for 
Did you mean: 
Brian12444
Level 1

Do I mark yes in Final Year of Businness (T2125) ? Im confused

Hello,

I am self-employed and my business name is the same as my name and the address is the same as my home.

I stopped earning revenue for this business on June 2019. I started re-earning revenue on Marsh 2020 under the same business name & address but with different main service.

So do I mark yes in Final Year of Businness ?

 

Please help. I appreciate your prompt response.

 

Sincerely,

1 Reply
Jeffuuright
Employee Tax Expert

Do I mark yes in Final Year of Businness (T2125) ? Im confused

The form T2125 asks "Was this your final year of business?" The answer for 2019 should be no because in 2020 you are still in business. However CRA asks that you contact them in the case of a change in business activity. Please see: 

Change of business activity

v