Business Return Worksheet

  • Income: Only include income relating to this business/source of self-employment

  • Expenses: Show Annual Totals. Leave unrelated areas blank.

    **Only break out the taxes if you are GST/HST registered. See Guide for more info.

  • Purchases of Items for Re-sale, Material

  • Subcontractors (HST Registered)

  • Subcontractors (Not HST Registered)

  • Closing Inventory (At your cost for the items)

  • Advertisement & Promotion

  • Meals & Entertainment (Client/work related only, no personal unless away for more than 12 hours)

  • Insurance (Business Only)

  • Bank Charges on Business Accounts & Interest on Business Credit Cards & Loans

  • Business Fees & Licenses

  • Office Expenses

  • Supplies & Small Tools (Value of $200 or less each)

  • Legal, Accounting & Professional Fees

  • Management & Administration fees

  • Rent of Business/Storage/Equipment (not home)

  • Maintenance and Repairs (Except Vehicle)

  • Salaries & Wages through CRA Payroll(incl WSIB)

  • Travel – Hotel & Air (not vehicle)

  • Telephone & Cell (No Home Phone)

  • Delivery and Freight Expenses

  • Small Tools (Value $200 - $500 per item)

  • SpecifyPrice Excluding TaxesTaxes**Total 
    Add a new row

  • Capital Purchases: Items with a value of more than $500 should be listed separately.

  • ItemPrice Excluding TaxesTaxes**Total 
    Add a new row

  • Auto Expenses: If you use your vehicle for your business fill out the following.

    You must fill a separate schedule out for EACH vehicle used.

  • **You should have an auto log available including total KM for the year and the KM driven for business related activities should CRA request it.

  • Expenses for Vehicle: List 100 % amounts for the whole Year

  • Gas

  • Insurance

  • License and Plates

  • Repairs and Maintenance

  • Parking and Tolls

  • Interest on Loans (If you own vehicle)

  • Lease Payments (If Leasing)

  • Home Office: If you utilize a designated space in your home for use in your business

    **You should be able to provide total square footage and the square footage designated solely for work related purposes. If the space is not dedicated, reduce by time of use (hours/day vs days/year used for work related activities)

  • Expenses for home: List 100 % amounts for the whole Year

  • Heat

  • Electricity

  • House Insurance

  • Maintenance

  • Mortgage Interest ONLY

  • Property Taxes

  • Rent

  • Water Heater Rental

  • SpecifyPrice (Excluding Taxes)Taxes**Total 
    Add a new row