Tax on Google Adsense Income Canda?

Question: I am using ufile and I wish to know the category for google adsense income? Is it professional? employment? or business? Thank you for your response.

Answers:
If you are deriving income from a website, which is what I assume google adsense is (although I am not familiar with it), you would need to do the following:

1. You need to fill out schedule T2124 Statement of Business Activities. You would report the gross amount of the income on this statement and calculate any expenses incurred associated with this self-employed income.

2. The gross sales would be reported on line 162 of your T1 General Income Tax Return.

3. The net profit (i.e., your gross sales less the total expenses you claimed on the T2124) would be reported on line 135 of your 2006 T1 General Income Tax Return.

4. You would also need to complete Schedule 8, which is CPP Contributions on Self-Employment and Other Earnings.

Hope this information helps you.

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