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Income from Artists’ Project Grants

©iStock/ohmstock For creatives in Canada, grants can be a key part of continuing to produce your art and jumpstart or maintain your career. Here’s how to declare the income from artist project grants on your income taxes, and how they are treated when it comes to GST/HST. An artists’ project grant one that [...]

By |March 7th, 2016|Two Minute Tax Tips|Comments Off on Income from Artists’ Project Grants

Help! I’m late registering for a GST/HST number!

©iStock/Massonstock While it’s always best to audit-proof your return by keeping relevant records and calculations, don’t overlook the importance of registering for the GST/HST once you've billed $30,000 in any 12-month period. The fact that people can (and many do) gross $30,000 or more and neglect to register for the GST/HST, and that [...]

Do I Really Have to Get a HST/GST Number?

If you’re self-employed, freelance, or run any kind of business in Canada, you've probably heard that you have to register for the HST/GST once you make more than $30,000. But what exactly does that mean, what income counts toward the limit, and how do you do it? Personal Tax Advisors: Next Level Tax Preparation Next [...]

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