ARCHIVED - 1995 General Income Tax Guide
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ARCHIVED - Lines 135 to 143 - Self-employment income
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Enter your gross and net income or loss from self-employment on the appropriate line of your return. If you have a loss from self-employment, show it in brackets.
Under proposed legislation, for fiscal periods beginning after 1994, the rules for reporting your self-employed income have changed This change may mean that you have to include more than 12 months of self-employment income on your 1995 return. However, there are special rules that apply. For more details, get a copy of the applicable guide listed on page 17.
Make sure you report your self-employment income on the correct line of your return. You have to include with your return a statement showing your self-employment income and expenses.
The following income tax guides contain additional information and forms you may need to help you calculate your self-employment income:
- Business and Professional Income (Form T2124, Statement of Business Activities, and Form T2032, Statement of Professional Activities)
- Farming Income (Form T2042, Statement of Farming Activities)
- Fishing Income (Form T2121, Statement of Fishing Activities)
If you are using your home for day care, you may also wish to get the pamphlet called Using Your Home for Day Care.
To get any of these publications, contact us.
If you were a limited or non-active partner, enter your net income or loss on line 122, unless the following applies. If your net income or loss is from a rental operation, enter it on line 126. If it is from a farming operation, enter it on line 141.
If you were an active partner and received a T5013 slip, Statement of Partnership Income, report the amount from box 18 on the line of your return that agrees with the three-digit code shown in box 12. This is your share of the partnership's income or loss. Also report the partnership's gross income as shown in box 31. Attach a copy of the T5013 slip to your return. If you did not receive this slip, attach a copy of the applicable self-employment form as indicated above.
Note
You may have to make Canada Pension Plan contributions on your self-employment earnings. See line 310 for details.
- Date modified:
- 2002-02-04