2020 tax slips - Canada

[Lindsaye]

Hello, first year camming model. I have no idea how to do my taxes and I haven’t received a tax slip from streamate yet! I am in NS if anyone could help me I would appreciate it.

 

[GothHostess]

Hi, I actually don't work on SM yet so it could be different, take this as only my educated guess...but generally for Canadian girls, we aren't issued tax slips from any of the companies. You're responsible for filing the amount you made, and then paying taxes on whatever that amount is. If you don't have any sort of system for keeping track of your earnings throughout the year, you will have to go to your bank account and manually add them up (I know, it sucks).

If you didn't make a ton of money last year, what you could do is get the $20 basic version of turbo tax - it walks you through the tax form, and there is a line where you can enter other income/tips or something (I can't remember correctly, but it will be clear when you see it) and you can enter your income into that line. I've done that in previous years and had no issues (just my personal experience). Turbo tax will also help you to find any tax credits etc you are eligible for.

If you did make enough money that you're going to be paying a big chunk of change in taxes for, it might be worth finding a SW friendly accountant. Where you might find that in Nova Scotia. I'm not entirely sure, haha. Word of mouth will be your friend.

 

[Nigerian Prince]

I would recommend using SimpleTax I tried it out last year to file my taxes and I found it pretty straightforward. It's also free.

 

[Bella-bell]

I have only made about 5000 in 2020 on cam (started in the fall). Would it make sense to still add this as a business expense rather than the "other income" section so that I can deduct expenses? I haven't kept receipts from my toys or lingerie but I do have receipts for phone ect. I was also claiming CERB/EI at the beginning of camming as some months my income was quite low and I was already on CERB. I told EI that I was was a content creator when I sent them my income.. so I think it would make sense to add it as a business. My concern is that I'd like to add some of my bills (phone bill for snap, sam model protect) as expenses, as I added these to my EI. However I don't know if the CRA will raise an eyebrow at me adding cam model protect as one of my expenses? I think it would be easier to add this as other income but I don't know if this would be correct as I've already told EI I am doing Independent contractor work. This is lengthy but I would love some feedback!

 

[Nigerian Prince]

I have only made about 5000 in 2020 on cam (started in the fall). Would it make sense to still add this as a business expense rather than the "other income" section so that I can deduct expenses? I haven't kept receipts from my toys or lingerie but I do have receipts for phone ect. I was also claiming CERB/EI at the beginning of camming as some months my income was quite low and I was already on CERB. I told EI that I was was a content creator when I sent them my income.. so I think it would make sense to add it as a business. My concern is that I'd like to add some of my bills (phone bill for snap, sam model protect) as expenses, as I added these to my EI. However I don't know if the CRA will raise an eyebrow at me adding cam model protect as one of my expenses? I think it would be easier to add this as other income but I don't know if this would be correct as I've already told EI I am doing Independent contractor work. This is lengthy but I would love some feedback!

I'm a bit confused, what exactly are you trying to add as an expense?

 

[Bella-bell]

Hi Nigerian Prince,

My cam model protection monthly bill payment and my phone bill

 

[Nigerian Prince]

Hi Nigerian Prince,

My cam model protection monthly bill payment and my phone bill

You can write both of those off as an expense, though for your phone bill you can only claim a % of the total amount based on how much you use it for business/personal use. also if you bought any of your toys/lingerie online you should be able to find a receipt from wherever you purchased them from.

 

[Bella-bell]

Thank you! I am just concerned - looking at the T2125 Business statement you have to list what websites you promote your work on. Also if I use the cam model protect receipts then it will be clear that I'm a cam model. Has anyone had any push back or issues filling out their taxes in this way as it shows what kind of work we are in? Or has it been a non-issues (CRA doesn't care).

 

[Nigerian Prince]

Thank you! I am just concerned - looking at the T2125 Business statement you have to list what websites you promote your work on. Also if I use the cam model protect receipts then it will be clear that I'm a cam model. Has anyone had any push back or issues filling out their taxes in this way as it shows what kind of work we are in? Or has it been a non-issues (CRA doesn't care).

The CRA doesn't care, also the sites you work on is not a requirement, or at least it wasn't for me when I filled using SimpleTax.

 

[Bella-bell]

Thank you!!

 

[willx]

It's my first year as a cam model and I'm having trouble finding accurate info for filing taxes for next year in Eastern CANADA. Still some time away but I'd like to be prepared if anyone has any feedback it would be appreciated. I also do my own filing via WealthSimple (aka SimpleTax).

My first year has been successful profiting over 30K so far (although hard to compare if that is considered a lot since I don't know what the avg earnings of performers are - specifically males which is hard data to come by) but I assume SM will send a tax form that I can input like any other document when filing?
I have also come across mixed info on whether a GST/HST number is required, being i'm well over 30K - some say yes, while others say no and include that cam modelling is not applicable for GST or even taxable.. ?

I have invested in new equipment gear/laptop, and other items - Assuming you are taxed, things like this can still be written off as expenses much like any other business would?
What other things might this include, would a partial % of internet/rent be something to claim as well?

Apologize if this has been answered before elsewhere, but thanks in advance for your feedback. I just want to feel prepared come tax season next year and avoid surprises.


*On a side note, I am new on this forum but in general I haven't found much support for Streamate male cam models, I'd be interested in a thread or support page for the men specifically.

 

[Nigerian Prince]

It's my first year as a cam model and I'm having trouble finding accurate info for filing taxes for next year in Eastern CANADA. Still some time away but I'd like to be prepared if anyone has any feedback it would be appreciated. I also do my own filing via WealthSimple (aka SimpleTax).

My first year has been successful profiting over 30K so far (although hard to compare if that is considered a lot since I don't know what the avg earnings of performers are - specifically males which is hard data to come by) but I assume SM will send a tax form that I can input like any other document when filing?
I have also come across mixed info on whether a GST/HST number is required, being i'm well over 30K - some say yes, while others say no and include that cam modelling is not applicable for GST or even taxable.. ?

I have invested in new equipment gear/laptop, and other items - Assuming you are taxed, things like this can still be written off as expenses much like any other business would?
What other things might this include, would a partial % of internet/rent be something to claim as well?

Apologize if this has been answered before elsewhere, but thanks in advance for your feedback. I just want to feel prepared come tax season next year and avoid surprises.


*On a side note, I am new on this forum but in general I haven't found much support for Streamate male cam models, I'd be interested in a thread or support page for the men specifically.

This article applies to OnlyFans but most of it should apply to other platforms. I would assume they only send tax slips to U.S. based models like most other sites. Since you've made over 30k you will need a GST/HST number however you don't need to charge any tax, at least not from any cam or content site. The only site where I think it might matter is PornHub since it's actually based in Canada. You can claim pretty anything you would in a normal business, just make sure that you find the right CCA classes for your purchases. Most people put everything under $500 as an expensive and only list more expensive purchases separately, like a laptop or camera.

 

[willx]

This article applies to OnlyFans but most of it should apply to other platforms. I would assume they only send tax slips to U.S. based models like most other sites. Since you've made over 30k you will need a GST/HST number however you don't need to charge any tax, at least not from any cam or content site. The only site where I think it might matter is PornHub since it's actually based in Canada. You can claim pretty anything you would in a normal business, just make sure that you find the right CCA classes for your purchases. Most people put everything under $500 as an expensive and only list more expensive purchases separately, like a laptop or camera.

Thanks for the link and your input.
What i'm wondering as well, and perhaps a stupid question but the government will tax you a % amount based on your earning bracket correct, or is that not applicable for cam modelling, etc.? I've seen some people make that comment however, I don't think that's trustworthy source.

 

[Nigerian Prince]

Thanks for the link and your input.
What i'm wondering as well, and perhaps a stupid question but the government will tax you an amount or is that not applicable for cam modelling, etc.?
Just want to have a personal idea of what I would be owing to set aside accordingly.

The government will require you to pay tax on all income, regardless of the origin. You can look up your tax bracket, provincial and federal, to determine what % of money to set aside. If at any point in the year you make enough to enter a new tax bracket then you can just change the amount you set aside for every dollar you make above the previous bracket.

 

[Nigerian Prince]

Oh, and I also forgot, you do have to pay tax installments if you expect to owe over $3000 in tax, or $1800 in Quebec. There are a few ways to calculate it to know how much you have to pay in each installment. I always forget that that's a thing since my regular jobs have always deducted tax, though I guess that's going to change this year.....

 

[willx]

Oh, and I also forgot, you do have to pay tax installments if you expect to owe over $3000 in tax, or $1800 in Quebec. There are a few ways to calculate it to know how much you have to pay in each installment. I always forget that that's a thing since my regular jobs have always deducted tax, though I guess that's going to change this year.....

Thanks for the info, I really appreciate it!
Just out of curiosity, when registering for GST for your business name, is it required to state that you are a cam model? Are you supposed to make up a phony business name?
I ask because I also have previously registered for a business number (not related to camming), so I'm wondering if I can register the GST account for an existing business and submit the cam model earnings under that business.

 

[Nigerian Prince]

Thanks for the info, I really appreciate it!
Just out of curiosity, when registering for GST for your business name, is it required to state that you are a cam model? Are you supposed to make up a phony business name?
I ask because I also have previously registered for a business number (not related to camming), so I'm wondering if I can register the GST account for an existing business and submit the cam model earnings under that business.

You have to include a "description of major business activity". The business name could be anything, I doubt it matters. You could probably include it all under one business, though you would have to notify the CRA of a change of business activity. If you are still making money from your previous business than that may complicate things, and I imagine would just create more of a headache if you were to randomly get audited.

 

[willx]

Not sure if this was answered but i'm trying to file my GST/HST return with CRA (I have a GST# and registered business since my earnings are over 30K). I'm inputting my profits on the line item listed, however it's then asking for how much tax I charged.
Clearly I don't charge tax because of the nature of work, so would I leave this blank or what amount am I supposed to put/calculate to determine that?
If anyone knows i'd really appreciate the feedback because apparently CRA has never dealt with anyone in Canada that does live streaming (what a joke!)

I spent a total of 5 hours with CRA and 3 other departments, plus the Digital Currency Dept. within the CRA and no one seems to know anything about taxes in relation to being a live streaming performer/onlyfans, etc.
The last clueless person gave me the ridiculous response that I need to find out from each client where they are located, and then ask them to pay taxes. Completely LAUGHABLE!! I basically told them they don't know what they're talking about and ended the call. Clearly Canadian government services are useless - which is no surprise to me, they always fail me at every inquiry.

 

[Nigerian Prince]

Not sure if this was answered but i'm trying to file my GST/HST return with CRA (I have a GST# and registered business since my earnings are over 30K). I'm inputting my profits on the line item listed, however it's then asking for how much tax I charged.
Clearly I don't charge tax because of the nature of work, so would I leave this blank or what amount am I supposed to put/calculate to determine that?
If anyone knows i'd really appreciate the feedback because apparently CRA has never dealt with anyone in Canada that does live streaming (what a joke!)

I spent a total of 5 hours with CRA and 3 other departments, plus the Digital Currency Dept. within the CRA and no one seems to know anything about taxes in relation to being a live streaming performer/onlyfans, etc.
The last clueless person gave me the ridiculous response that I need to find out from each client where they are located, and then ask them to pay taxes. Completely LAUGHABLE!! I basically told them they don't know what they're talking about and ended the call. Clearly Canadian government services are useless - which is no surprise to me, they always fail me at every inquiry.

"As a majority of your income will be derived from non-resident corporations, such as Amazon for Twitch, your income on their platform is considered “zero-rated”. Thus, you are collecting sales tax effectively at a rate of 0%, but you are still able to claim any input tax credits (ITCs), meaning you are eligible to recover the GST/HST paid or payable on your purchases and operating expenses."

 

[willx]

"As a majority of your income will be derived from non-resident corporations, such as Amazon for Twitch, your income on their platform is considered “zero-rated”. Thus, you are collecting sales tax effectively at a rate of 0%, but you are still able to claim any input tax credits (ITCs), meaning you are eligible to recover the GST/HST paid or payable on your purchases and operating expenses."

Thank you so much!
I figured this would be the case but I wanted to be sure since the CRA had me doubting myself but thank you for clarifying!

 

[AlyyRose999]

Does anyone know streamates employer identification number I'm trying to file my taxes but have yet to receive my 1099