Tax implication for Canadian residents

Discussion in 'Payments' started by hanna256, Jan 12, 2007.

  1. #1
    I am a Canadian resident, not a business.

    Here it goes, I am almost ready for my first payment from Google. According to the Google FAQ, since I am not a US resident I am not required to pay any US tax, but do I have to pay the Canadian gov? Anyone with this situation?
     
    hanna256, Jan 12, 2007 IP
  2. tobycoke

    tobycoke Well-Known Member

    Messages:
    1,676
    Likes Received:
    76
    Best Answers:
    0
    Trophy Points:
    140
    #2
    In Canada you are supposed to include all worldwide income, including Adsense, on your Income Tax Return. Some people cheat on their taxes and gamble that they won't get audited.
     
    tobycoke, Jan 12, 2007 IP
  3. C. Szeler

    C. Szeler Member

    Messages:
    64
    Likes Received:
    1
    Best Answers:
    0
    Trophy Points:
    43
    #3
    I'm singing the same tune as the poster above. You *must* claim all worldwide income in your tax return. Revenue Canada wants a peice of every pie.
     
    C. Szeler, Jan 23, 2007 IP
  4. checksum

    checksum Notable Member

    Messages:
    2,633
    Likes Received:
    101
    Best Answers:
    0
    Trophy Points:
    230
    #4
    I'm thinking it might be best to go to a tax consultant, atleast that's what I'm going to do, I'm horrible with taxes.
     
    checksum, Jan 23, 2007 IP
  5. JesterMagic

    JesterMagic Peon

    Messages:
    179
    Likes Received:
    2
    Best Answers:
    0
    Trophy Points:
    0
    #5
    Standard Disclaimer - If you are unsure check with an accountant.

    Basically what you need to do is claim it as self employment income along with any expenses (like hosting, supplies, etc..). Not hard to do especially if you use Quick Tax.
     
    JesterMagic, Feb 12, 2007 IP
  6. ketan9

    ketan9 Active Member

    Messages:
    548
    Likes Received:
    9
    Best Answers:
    0
    Trophy Points:
    58
    #6
    When you disclose adsense as income then you can claim hosting fees, linking fees and other expenses you incurred for advertising and promoting your site.
     
    ketan9, Feb 12, 2007 IP