Recent content by rgalan

But you still have to file form T2124. Once your annual sales there exceed $30,000, you have to register for Business Number/GST. Also what Industry code do you indicate on this form?

If you file a T2124 business income form, with annual sales greater than $30,000, you automatically have to register for Business Number/GST. Thereafter you have start remitting GST periodically, etc. The GST guide does not indicate that daytrading in stocks is exempt. Rather, I understand...

How do canadian daytraders report their income on the income tax return? I understand it has to be reported as business income, but where exactly on the return does it go, since regular business has to pay GST as well? Or as a daytrader, do you have to pay GST on your earnings and then pay...