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 Post subject: Photo sell / Income Tax
PostPosted: Fri May 28, 2010 11:42 am 
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Hi;
This is my first post here, and unfortunately is more about the business of photography.
I am an armature photographer and probably like to stay as one for a while. However, I have sold a few of my photos recently. I was wondering if I could declare the cost of printing and framing on my income tax return?
Do I need to have a company? Or can I declare all my income and costs using what they call professional activities?


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PostPosted: Fri May 28, 2010 11:44 am 
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No you do not technically need to start a company - as you can sell and claim expenses as a freelance photographer. This works well if you do not make much money from photography. Although once you start making a lot of cash from photography sales, and have a lot of expenses - its a good idea to then register a company.


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PostPosted: Fri May 28, 2010 12:46 pm 
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Not that I am a freelance photog, but as any consultant, check the rules that apply to consulting with the Canada Revenue Agency (CRA)

I remember the limit before you declare GST is $35,000 and with HST coming soon, that changes.

Check their site as they are quite informative


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