4 Key Factors to Consider
Whether you are a Canadian that considers yourself self-employed (independent contractor) in your employment, it’s the CRA that has the final word on how your income and taxes should be reported. That being the case, it is then logical for you to know the criteria guidelines the Canadian Government uses to make those decisions. A couple of years ago the CRA offered a publication titled “Employee or Self-Employed”? which is no longer available in print or online. Some of the details of that publication are outlined below.
Here are the 4 Key Factors you must analyze in your relationship to the business or person that pays you.
2) Ownership of Tools
3) Chance of profit/Risk of Loss