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March 1, 2022
Question

Homeshare Provider Claims

  • March 1, 2022
  • 1 reply
  • 0 views

I am a homeshare provider for my autistic brother, the agency that provides the funding has me as a contractor and they do not provide t4s. 

Do homeshare caregivers get an exemption from claiming in BC? or How would I be able to without a T4?

    1 reply

    March 3, 2022

    According to Canada Revenue Agency (CRA), once your casual income is more than $35000, you will need to contribute to the CPP (Canada Pension Plan). In this case, you will have to report this income as business income. In your case,   as a contractor who does not have a T4, you can use the T2125 form to report your income.   Here is more for the T2125 Statement of Business or Professional Activities.

    You can claim your Homeshare Provider income as "Other Income" On your Tax return as follow:

    • On My return click on Income in the left side menu and then Other Income Sources.
    • Next, click on Income not reported on T slip, and the Employment status screen will appear.
    • On this page you need to click on Received tips, gratuities, occasional earnings, or other employment income and Continue. 
    • Next, you need to enter all all other sources of employment income that apply to your situation and click Continue.

    If you have expenses that you want to claim or if your income was more than $35000 you need to report as a self-employment Income (business Income).

    • On My return click on Income in the left side menu and then click  Self Employment.
    • Next, click on Business or Professional Activities where you can see the checklist of what you need to get started and click Continue.
    • On the next page you need to enter all information about your self-employment work or business.
    • Next, you need to type the 6 (digits)  industry code.
    • On the following page you need to choose that you have a partner or you are your own business.
    •  After that you need to enter the income you make and expenses you have. 

    Please see these links for more information:

    More related information  you can see   from our TurboTax article links Tax Deductions for the Self-Employed 

    and watch some videos here in this link Self-employment Centre

     

    Thank you for choosing TurboTax.