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Thread: Canadian taxes, questions...

  1. #1
    God/dess
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    Default Canadian taxes, questions...

    Any Canadian dancers here who claim their income? I just started, and most guys make comments like "Even better, your income is under the table..." but I don't know if that's really the best way to go. I read a newspaper article last spring before I started dancing that featured an accountant encouraging dancers to claim their income (in the long run it would help them, they could claim 'expenses' like outfits, shoes, and that he could help). Well, I lost the article, but it was convincing. Any advice or tips? Anywhere I could go and get this info?

  2. #2
    Member Ramona's Avatar
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    Default Re: Canadian taxes, questions...

    I"ve been thinking the same thing. I"m going to check on www.nakedtruth.ca forums. It's mostly Canadian

    If you find out before I do, please post!

    Ramona
    Last edited by Ramona; 08-18-2005 at 10:27 AM. Reason: screwed up web addy!

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    Member Ramona's Avatar
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    Default Re: Canadian taxes, questions...

    I copied this from a forum at nakedtruth:

    You must get a GST # if your income is OVER 30,000. You must report and remit the GST once a year, only if the amount is under 1500...any year that your gst owed becomes over 1500 you are asked to remit quarterly...then they refund you at the end of the year if you paid too much. It is a pain to collect gst, but really only once you first get the ###, once most bars get it in their books you will get it automatically on each cheque.
    OPEN A SEPARATE ACCOUNT AND SAVE YOUR GST EACH CHEQUE!!!!! this will save you a huge headache at the end of the year when you figure out you owe $$$ but have already spent it!
    From my experience filing the gst for 3 years now, I have always had money LEFT OVER in that account, and that has been a big plus.

    If you DO NOT get a gst ### and your income has been over the 30,000 dollars you will be taking a chance that the Government will one day say hey you owe us such and such back dated from past years you have worked...so it is always better to be honest where the gov is concerned.



    Other stuff.
    Have a separate account to stash money for taxes in. Also, claim everything : Shoes, costumes, gas getting to and from work (you'll have to take the milage on your vehicle to do this) or taxi fare - get reciepts. Meals while working, the cost of CD's you've got for dancing to. and mind that darn $30,000 rule.

    Anyone else?

  4. #4
    242_fair
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    Default Re: Canadian taxes, questions...

    You gotta find an accountant who can help you. Don't want until 6 months have passed to ask a professional what your responsabilities are to the government. Find out soon so you can prepare for next spring (keeping recipts etc.).

    I recently found out how much I should be saving for my GST and was stunned at how much more $$ I have to pay in Ontario than when my family paid when we lived in America.

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