Internet Business Activites
For corporations, you are required to complete T2 Schedule 88: Internet Business Activities on your corporation income tax return (T2). For self-employed individuals, you are required to complete Part 2 of Form T2125: Statement of Business or Professional Activities on your personal income tax return (T1).
Your top five web pages or websites are to be reported to specify the five top income generators.
The following are some types of income that you could earn from web pages or websites:
- income from sale of goods or services on your website.
- income from sale of goods or services on auction, marketplace, or similar websites operated by others.
- income from advertising, income programs or traffic that your site generates. For example: ads that you place on your website for other businesses, affiliate programs, ad programs such as Google AdSense or Microsoft Advertising.
The above information is of a general nature only and should not be relied upon for specific situations. Call Marlies Y Hendricks, CPA at 416-766-3941 or submit email enquiry form below to set up a consultation.
