Time To Report That Online Income…

It’s that time if the year – tax time. And although we have an extra 2 weeks over the Americans (extended by yet another week ‘thanks’ to the Heartbleed attack) it still comes too soon.

However, during preparation, something new popped up (and not just the issue about the Nisga nation, a current UFIle bug for BC residents) – the T2125 form for business income wanted a reporting of money-making websites via URL, and the earnings by percentage of total income. While this reflects the new realities of online income and earning, it also highlights that some people need the ‘encoruagement’ to report that income: although I’ve misplaced the link, it was apparently prompted by Canada Revenue getting eBay records on sellers, and finding about thirty percent not reporting their earnings.

Of course, earnings are earnings, no matter how they come in – but if you have online income, look at Heartbleed as giving you an extra week to make sure all your income and deductions are accounted for – because if you’ve earned online income, don’t forget to declare it – the government will know…

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