2016-12-08 00:00:00 Starting a Business English Explore how self-employment income may affect tax credits or access to social assistance programs. Review considerations for people... https://quickbooks.intuit.com/ca/resources/ca_qrc/uploads/2017/03/woman-on-social-assistance-starts-greenhouse-business.jpg https://quickbooks.intuit.com/ca/resources/starting-business/starting-a-business-while-receiving-social-assistance/ Starting A Business While Receiving Social Assistance

Starting A Business While Receiving Social Assistance

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If you receive government benefits, tax credits or Employment Insurance, you have to meet certain criteria. If you are starting your own business, ensure that your earnings won’t disrupt your benefits. If you are collecting EI due to the loss of a job, you may work and continue to receive benefits, but you must notify the government about your earnings and the number of hours you have worked.

For benefits programs such as the Canada child benefit or the working income tax benefit], the Canada Revenue Agency maintains details on income requirements and thresholds. To ensure your earnings don’t pass the threshold, check the limits on the CRA’s website. Similarly, if you receive local benefits or assistance, speak with the administrators of those programs to ensure you understand how your self-employment income may affect your access to assistance.

References & Resources

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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