2013 tax returns require disclosure of business website addresses, including profiles, blogs, auctions, portals, and directories operated by third parties, if income is earned from those sites. The forms (T2125 for individuals and Schedule 88 for corporations) ask for the five addresses which generate the most income. The percentage of income earned from those sites (or an estimate) is also required. Note that if the site does not support web payments but facilitates any type of contact, such a site will be considered as a source of income. If 2013 returns have already been filed which do not include this information, amendments should be filed to include the appropriate schedule.
Tax Target – What’s New in the Tax Sector
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