Self-employed? Here's how to file taxes for a side hustle

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Here’s what newly self-employed Canadians need to know about income tax deadlines, side-hustle tax deductions and more. 

During the pandemic, many Canadians have launched a business or started doing freelance, gig or contract work—and some are dealing with business income tax reporting and self-employment tax deductions for the first time.

Nathalie Hatter is one of those with a new side hustle. A corporate travel executive who planned company getaways, she watched as her career stalled in March 2020. “As soon as Canada advised Canadians not to travel, that’s when companies had to cancel their programs,” says Hatter, who lives in Oakville, Ont.

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Original Article Source Credits: MoneySense, https://www.moneysense.ca

Article Written By: ANNA SHARRATT

Original Article Posted on: APRIL 13, 2022

Link to Original Article: https://www.moneysense.ca/save/taxes/self-employed-heres-how-to-file-taxes-for-a-side-hustle