Self-Employment and Small Business

This section is for the terms that show up once income is earned outside a standard payroll relationship.

Use This Section When

• income is not fully handled by an employer payroll system
• instalments, T4A income, or business records start to matter
• you need the vocabulary around reporting self-employed or small-business activity

Browse This Section

• Business Income
• Business Expenses
• Business Forms

Start Here

• Business Income
• Sole Proprietorship
• Professional Income
• Current Expense
• Capital Cost Allowance
• T2125 Statement of Business or Professional Activities
• Small Supplier
• GST/HST Return
• Instalment Payment
• Remittance
• T4A Slip

Related Sections

• GST/HST
• CRA Process and Compliance

In this section

• Business Expenses
  Business-expense terms for sorting self-employment costs into current, capital, and CCA treatment.
  • Capital Cost Allowance
    Capital cost allowance is the system for deducting eligible business capital costs over time instead of all at once.
  • Capital Expense
    Capital expenses buy or improve longer-term business property and are usually handled through capital-cost rules instead of immediate deduction.
  • Current Expense
    Current expenses are ordinary business costs normally deducted in the year rather than capitalized.
• Business Income
  Business-income terms for self-employment, professional income, sole proprietorship, and T2125 reporting.
  • Business Income
    Business income is self-employment income reported from commercial activity after applying the relevant tax rules and records.
  • Professional Income
    Professional income is self-employment income earned in a profession and reported through the taxpayer's business-filing workflow.
  • Sole Proprietorship
    A sole proprietorship is a business structure in which the individual and the business are not separate personal income-tax filers.