“Funds raised by a taxpayer through (reward-based) crowdfunding activities will likely constitute business income to the taxpayer. Correspondingly, the CRA has clarified that in their view expenses relating to such crowdfunding activities should generally be deductible by the taxpayer in computing its taxable income…The CRA’s statements clearly leave the possibility open for funds received in the context of equity-based crowdfunding to be treated as a capital contribution.”
Should You Worry About Crowdfunding Tax?
Posted by sjekic under TaxesFrom http://www.crowdclan.com 3688 days ago
Who Voted for this Story
Subscribe
“Rachel: Great to hear! Thanks for your kind words! :)
All the Best,
Martin...”
“Thank you, Martin. That's a fantastic motto... and I couldn't agree more!...”
“Lisa: Good to hear! Thanks for your response....”
“For sure, I know I did years ago when I was working for others....”
“Lisa: I wonder if they potential employee is doing a background check on...”
Comments