Here are answers to more of your top business tax information questions

Did you receive subscriptions and perks like merchandise and trips or other income?

If you earned income by posting pictures, videos and more on your social media channels that involves product placement or product promotion, you may be undertaking a business activity. You can earn income from your social media activities in many ways, both monetary and non-monetary (barter transactions), including, but not limited to…

If you earned income by posting pictures, videos and more on your social media channels that involves product placement or product promotion, you may be undertaking a business activity. You can earn income from your social media activities in many ways, both monetary and non-monetary (barter transactions).

If you are carrying on a business through your social media channels, you must report the income (both monetary and non-monetary) that you earn through these activities on your income tax return. When reporting non-monetary income, you must use the fair market value of the item received. The CRA will generally consider your social media activities to be business activities where there is an element of profit to your activities.