Self-employment income: sales, commissions, or fees
Self-employment income includes all your income from sales, commissions, or fees. Your sales include all sales, whether you receive or will receive money, something equivalent to money (such as credit units possessing a notional monetary value), or something from bartering. Bartering occurs when two people agree to exchange goods or services without using money.
If you are a self-employed commission salesperson, this includes all commissions you received.
Types of Self-employment Statements
CRA has multiple self-employment statements for different type of incomes. There are separate statements for Business and Professional activities, farming, fishing, and AgriStability.
Note: Pro Tax currently includes only the Statement for Business or Professional Activities.
- T2125 - Statement of Business or Professional Activities
- T2042 - Statement of Farming Activities
- T2121 - Statement of Fishing Activities
- T1163 & T1273 - AgriStability
T2125 - Statement of Business or Professional Activities
Use this form to enter income and expenses from business or professional activities. If you have multiple businesses, use a separate form for each property. The income for loss from these forms flow to Line 13500 and 13700 of the T1 General return.
The T2125 has its own set of forms such as the asset and CCA forms. For example, to enter assets for the T2125 Statement of Business or Professional Activities you will have to open the T2125 Asset form.
Opening a Business Statements in Pro Tax
1. Open the return in Pro Tax.
2. Click Add New Form at the bottom of the left-side menu bar. The search window displays.
3. Enter the term “business” in the search field or the form number (for example, “T2125”).
4. Click the Add button next to search result.
The form populates in the list of forms.
5. Click the Insert forms button.
If you have multiple businesses, it is necessary to create a separate statement for each business.
To add another business form, click on the desired business statement from the Forms list and click Add new.
Deleting a business statement
To delete a business statement form, click on T2125 from the Forms list and click the “trashcan” icon next to the desired form.
Note: if you delete a business statement form, Pro Tax deletes all the related forms in the same set. Pro Tax automatically selects for printing any of the business statement forms that are used.