Tax for Canada

If my Adsense Income is 120 Canadian dollars each month, do I need to pay any tax?

 

I'm in Ontario, and it just adds on to my other income. It's like getting another T4. The more you make, the more you get taxed

 

Did you pay the tax? How do they know you have Adsense income?

 

You don't get a T4, you have to report it yourself.

You can always wait till they audit you and then ask them "how did you know".

That isn't a lot of money but if you start making let's say thousands how will you explain it?

 

i want to know what will happen if they found out, can't just pretend u didnt know u have to report them? and pay them back play co-operate if ever they find out (they'll charge you interest of course)?

surely no one want to report and pay lol. Let's face it who's not reporting ...?

 

Yeah, "I'm sorry I didn't know I had to pay taxes on my income". I bet they get a good laugh every time they hear that one. Sorry but I don't think it's going to cut it.

Now if you want to take the risk go ahead, but remember that they can go back as far as 6 years I think. So let's say after 6 years you get audited boy are you gonna have fun paying back taxes from the past 6 years haha.

Also, once they audit you and find something wrong the next time around they keep a closer eye on you.

They are not stupid. One year when I was in school I worked a cash job for a bit and my income for the year was very low. They sent me a letter asking me to explain how I survive, lol.

 

Can you say "Tax Evasion"? It's what brought Al Capone done.