Report business income
CRA directs self-employed people to report business or professional income and expenses, commonly using Form T2125.
Open CRA reporting guidance →1. Calculate the return from a real trial period
Use one consistent period—a week, month or project—for every amount and hour.
Different activities can have different income, GST/HST, licensing and record requirements.
Include tips and non-cash consideration only after verifying its tax treatment.
Use your records; this planner does not decide deductibility or calculate vehicle allocation.
Personal and capital costs need separate treatment.
Include quoting, messages, pickup, travel, bookkeeping and unpaid rework.
Use a rate from your own tax plan or adviser; Bremo supplies no assumed rate.
Net before tax reserve—
Net per entered hour—
Entered tax reserve—
After entered reserve—
Estimate boundary: This arithmetic does not determine employment status, deductibility, GST/HST, income tax, CPP, licensing, insurance, profitability, eligibility or future demand. A generated plan is not a customer, subscriber, paid conversion, revenue or profit event.
2. Check the obligations your headline income hides
3. Use the current CRA boundary—not copied rankings
Keep supporting records
CRA says to keep daily income and expense records and supporting transaction evidence, with separate records for each business.
Open business-record guidance →Check GST/HST timing
The current small-supplier test distinguishes exceeding $30,000 in one calendar quarter from exceeding it across four consecutive quarters. Exceptions can apply.
Open the registration test →Commercial rideshare exception
CRA says self-employed commercial passenger rideshare drivers must register for GST/HST regardless of taxable-supply revenue.
Open rideshare guidance →Platform reporting
Certain platform operators collect, verify and report seller identification and activity information to CRA under the digital-platform rules.
Review platform rules →Common T2125 expenses
CRA describes common current expenses and distinguishes personal expenses, capital property and input tax credits.
Open the expense section →Bremo receives no compensation from these government links. This page contains no provider application, income ranking, tax conclusion or business-account promotion.
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