Income Taxes for Canadians

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Suzan
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Location: Ottawa, Ontario Canada
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Income Taxes for Canadians

Post by Suzan »

If any of you Canucks use the "Statement of Business Activities" form with your Income Tax return, what "Industry Code" do you use? The only code which seems applicable is 454390 "Sales - Direct Sales - Other Direct Sales".

Cheers,
Suzan
Geri Comstock
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Post by Geri Comstock »

Suzan - This is of no help to you, but it's somehow comforting to know the US isn't the only place that makes it kind of challenging to figure out what tax category we self-employed glassies belong in.

Hope someone has an answer for you.

Geri
Liam
Posts: 90
Joined: Sun Mar 09, 2003 10:25 pm
Location: Houston, TX

new tax form

Post by Liam »

Canada has a new short form for income tax this year


How much did you make this year?

Send it.
W.W.S.D.
(what would spab do)
Pam Hrycyk
Posts: 36
Joined: Mon Mar 10, 2003 9:17 pm
Location: Toronto, Ontario Canada

Re: new tax form

Post by Pam Hrycyk »

Liam wrote:Canada has a new short form for income tax this year


How much did you make this year?

Send it.
Liam - That's not a new form, it's been in use for years!

Suzan - I've emailed you about this.
Amy on Salt Spring
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Post by Amy on Salt Spring »

You should try having to do taxes for both the US AND Canada. We have big fun in April. \:D/
-A
Suzan
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Post by Suzan »

440000 is for "Manufacturing - Other Merchandise". I thought this one might be applicable too. I've no idea how it affects taxes.

Re: the short form, if you're referring to the form for corporate filing, that, unfortunately, is not applicable to me as I'm the sole proprietor of my "manufacturing" glass plant. As far as I can tell, I need to fill out the T1 General (which is easy) plus the "Statement of Business Activities" which is 4 pages long. I'm sure if I just reread the Guide explanations 10 or 20 times I'll get it. How badly do I want to deduct my depreciables? Hmmm...

Cheers,
Suzan
Carol
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Post by Carol »

Suzan...why not just spend $100 and have an accountant do the tax forms? Think how much glass you could produce with the time you waste diddling around with forms and paperwork...

Also, check your email. I sent you another possible industry code number.

Carol
Dani
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Post by Dani »

Four pages.... $100???? Gads, I'm living in the wrong country. Got any room for foreigners up there in Canada? Jeez.
KatyPattison
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Post by KatyPattison »

I'm checking with my CA husband and will let you know what he says, if he responds, it is tax season you know!

Katy
KatyPattison
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Post by KatyPattison »

Wow, record time for him to answer and email and his response to

454390 "Sales - Direct Sales - Other Direct Sales".

was

"sounds good to me"

Very decisive!

Katy
Dani
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Post by Dani »

Katy Pattison wrote:I'm checking with my CA husband and will let you know what he says, if he responds, it is tax season you know!

Katy
Do you have other husbands in other states? What a great arrangement! :wink:
KatyPattison
Posts: 21
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Post by KatyPattison »

Sorry, only one in Canada, non in the States!
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