Working for yourself
Income, receipts, GST/HST and the everyday decisions that come with working for yourself in Canada.
Working for yourself
34 articles · 5 / 6
Working for yourself 2 min
Your bank balance and your profit answer different questions
A $3,200 bank balance can sit beside $4,000 of profit without either number being wrong. Follow the invoices, payments and owner withdrawal.
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Working for yourself 3 min
The next order may need two tax numbers
Track the small-supplier threshold, check exceptions and confirm both GST and QST registration before changing your invoices.
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Working for yourself 2 min
The receipt went through the washing machine
Camille finds a pale rectangle in her coat pocket and rebuilds the purchase record without inventing a replacement receipt.
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Working for yourself 2 min
We traded work. The bookkeeping still needed a number.
Malik swaps design work for a repaired studio chair. No money changes hands, but the business records still need both sides of the exchange.
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Working for yourself 2 min
A US-dollar invoice needs more than a dollar sign
Keep the invoice currency, conversion date, rate source, payment and fees visible. A worked example explains why the net deposit can be misleading.
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Working for yourself 2 min
A US client is the start of the HST question
Identify the customer, the exact service and the applicable export provision before treating a foreign invoice as zero-rated.
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