You can deduct management and administration fees, including bank charges, incurred to operate your business. Bank charges include those for processing payments.

Do not include on this line:

• employees' salaries, wages and benefits (including employer's contributions)
• property taxes
• rent paid

Instead, report these amounts on the appropriate lines of form T2125.

Forms and publications

• Guide T4002, Self-employed Business, Professional, Commission, Farming, and Fishing Income
• Form T2125, Statement of Business or Professional Activities