OTTAWA, ON, June 4, 2026 /CNW/ - If you're self-employed, tax season can feel overwhelming. The Canada Revenue Agency (CRA) is here to help. Whether you're a sole proprietor, freelancer, or running a small business, understanding your tax obligations is key to staying on track. Here's what you need to know:
Filing and payment deadlines for self-employed individuals
If you are self-employed, or your spouse or common-law partner is self-employed, you have until June 15, 2026, to file your 2025 income tax and benefit return.
Even though you have until June 15th to file, any balance owing was still due by April 30, 2026. If you still have not paid your taxes, the CRA can work with you on a payment arrangement or a pre-authorized debit (PAD) agreement. If you have a personal income tax or COVID-19 benefit debt of $1,000 or more, you may be able to use the Manage balance service in My Account to resolve your debt online without speaking to a collection officer. It allows you to make a full or partial payment, schedule a series of payments, contact a collection officer or request a callback.
As a reminder, for 2026 tax instalment payments, the March 15th due date has already passed, and the upcoming due dates are June 15, September 15 and December 15, 2026.
Meeting your tax obligations as a self-employed individual
If you earned self-employment income in 2025, you must report it on your tax return. This includes income earned through gig work, social media platforms, freelancing, or running a small business. As a self-employed individual, you may have to pay:
- Personal income tax (if you are a First Nations business owner you can find information on the tax benefits and requirements that apply to you at Information on the tax exemption under Section 87 of the Indian Act)
- Canada Pension Plan contributions
- Employment Insurance premiums if you are eligible and have registered to participate
If you earn income as part of the platform economy, you may be considered to be self-employed and carrying on a business and must report it on your tax return. For example, income generated from ride-sharing, food delivery, social media content creation, and marketplace sales all fall under the platform economy. Gifts, tips, and donations received through online platforms are also generally considered taxable income, and therefore should be reported on your tax return as well.
For more details, visit Taxes and the platform economy.
Don't forget to register for a GST/HST account if you make more than $30,000 in taxable supplies over a single calendar quarter or over the last four consecutive calendar quarters. If you are registered for GST/HST, you must file your returns electronically. If you participate in commercial ridesharing activities, the small supplier threshold does not apply and you must register for a GST/HST account the moment you start earning revenue. Filing your GST/HST returns on time helps you avoid penalties and interest.
Reporting all of your income ensures that the CRA has the right information to see if you qualify for benefits and credits like the new Canada Groceries and Essentials Benefit (CGEB)(formerly the GST/HST credit) the Canada Child Benefit, and other provincial or territorial programs. Filing your return on time helps you get the payments you're entitled to and prevents any interruptions to benefits you already receive.
If you have incorporated your business to provide services to one other company, you might be considered to be operating a personal services business (PSB). Tax obligations of PSBs are different from self-employed individuals. Find out more at What is a PSB.
All corporations now have to file their T2 Corporation Income Tax Return electronically, except for insurance corporations, non-resident corporations, corporations reporting in functional currency, and corporations exempt from tax under section 149 of the Income Tax Act. This $1 million threshold was eliminated for tax years starting after 2023.
Liaison Officer service
The CRA's Liaison Officer service offers help to small business owners, self-employed individuals and those earning rental income understand their tax obligations. As you make any kind of changes to your business, you might have questions and need information and guidance from the CRA. We can help.
During a meeting, a Liaison Officer will:
- Help you better understand possible business deductions
- Explain general bookkeeping concepts and best practices, and provide recommendations to strengthen your bookkeeping system
- Explain how to avoid common tax errors
- Give you an overview of helpful online tools and electronic services offered by the CRA
- Answer your tax-related questions
- Show you how to compare your business's financial performance with industry averages
A meeting with a Liaison Officer is 100% confidential; the information you choose to discuss with a Liaison Officer will not be shared with other areas of the CRA or anyone else.
You can request a meeting using the Liaison Officer Service Request Form.
Keeping accurate records
Keeping complete and organized records will help you file your return accurately and can help you avoid issues if your return is reviewed. You should:
- Keep all receipts, invoices, and supporting documents related to your business income and expenses.
- Store both paper and electronic records securely.
Online tools to help you file
Sign up for direct deposit and file online to get your refund faster! If you file online and have direct deposit, you can receive your refund in as little as eight business days!
Using the CRA's digital services is the fastest and easiest way to view and manage your tax and benefit information. We encourage you to register for a CRA account before filing your return, and have all of your tax information for filing your return on hand.
If you find yourself locked out of your CRA account because you've forgotten your sign-in information, you may be able to regain access online without needing to call.
The CRA's Get ready to do your taxes page has information on online filing, deadlines, and other helpful links.
Need More Information?
- Visit the Small Business and Self-Employed Income page and employer-employee relationship questions and answers for details on tax obligations and available resources.
- Visit the CRA resources for small and medium business page for more information.
- Check out Canada.ca/taxes for up-to-date information on filing your return.
By staying informed and filing on time, you can avoid penalties and ensure you receive the benefits and credits you're entitled to. The CRA is here to help. Visit Canada.ca for more tax tips and resources!
Contacts
Media Relations
Canada Revenue Agency
613-948-8366
[email protected]
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SOURCE Canada Revenue Agency
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