Can I have a side income without registering it as a business

Question

I am full time employed. If I want to generate some income from a side hobby-business by buying and selling gift cards, at what point in time do I need to register as a business/corporation with the CRA? If I am making more than a certain amount/year from the side business?

I just do not want to do unnecessary paperwork and pay accountant fees unless required by law.

Are you thinking of doing it as a personal hobby, or as an actual business? — Canadian Luke, Jan 14 '15 at 23:14

score 2 · Answer 1 · answered Jan 29 '15 at 20:06

2

If you do business under your name, you don't need to register your business. Your business will be treated as a sole proprietorship. If your revenue exceeds 30,000 (or wish to collect GST for the government) then you will have to register with the CRA for a GST account, but that is free.

answered Jan 29 '15 at 20:06

John Cruz

76
2

More info here https://www.sba.gov/content/sole-proprietorship-0 – jmabs Jan 30 '15 at 02:08

Can I have a side income without registering it as a business

1 Answers1

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