Personal Finance

Youtube money - Do you have to pay taxes??

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  • Dec 12th, 2018 2:58 pm
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Deal Guru
Aug 2, 2010
12932 posts
3231 upvotes
Here 'n There
aznnorth wrote:
Mar 28th, 2016 9:11 am
K, just wondering... I know in the states you have to pay taxes on youtube partnership program (aka ad sense income generated from view counts). But what about in Canada? Who keeps track of it and do they send tax receipts based on countries?? Seem pretty hard to do outside the US since 100+ countries have citizens who make youtube money. I added monetise to my account and was approved. Just want to know the 411 in case i make any cash... Those top youtubers make anywhere from $100k - $500k/annum. Beats getting a real job, lol.
Even if your income is from the proceeds of criminal activity the CRA requires you to declare it.

As for 'beats getting a real job', what makes you think it isn't a job too? Don't think generating that kind of income from Youtube videos is easy or doesn't take a lot of time and effort. Also, the ones who make that kind of income are in the very tiny miniority.
Deal Addict
Oct 29, 2010
4223 posts
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Why do you think Ad Sense doesn't generate any receipts? Ad Words generate invoices for tax purposes all the time, regardless of where you are.
Deal Addict
May 15, 2013
1418 posts
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Montreal
Conquistador wrote:
Mar 28th, 2016 10:16 am
Canadians need to report worldwide income.
Canadian RESIDENTS.
Member
Aug 20, 2014
212 posts
71 upvotes
Toronto, ON
aznnorth wrote:
Mar 28th, 2016 9:38 am
Any1 here who *actually* has a successful youtube account? How do you handle it??
I don't have a youtube account, but I make some income from my website and other social media. You are right, it is not straightforward for CRA to track this income.

However, first principle of entrepreneurship is to never lie on the tax forms. So my advice, just like everyone else here, is to be honest and declare your income.

You can look at eligible deductions such as expense writeoff, equipment capitalization, etc. Producing quality content and generating income from youtube or a blog is a full time job (albeit a fun one).
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Jul 19, 2010
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Alpha Centauri
fellowcurve1 wrote:
Mar 28th, 2016 11:03 pm
Abolish the IRS and CRA
Cruz 2016
Lying Ted has you fooled too.
Sr. Member
Apr 2, 2009
851 posts
230 upvotes
ddp wrote:
Mar 28th, 2016 1:20 pm
You think business have to report every dollar they earn? It's not hard to hide it.

Now if you get audited, it's not like a cash job since it touches your bank account, so it's easy to track and follow up.

What you should do is set up a p and l to get your income to as close to zero as possible, but profitable- and report that.
In OP's case it's very difficult to hide as it hit his bank account and is traceable. The simple answer is this. You either A) declare you income truthfully and honestly and don't worry about an audit or B) not declare some of your income and hope you never get audited. If you ever are audited you will be guilty of tax evasion and the penalties and fines that go along with this are often more than the tax originally owed as well as possible criminal charges
Sr. Member
Apr 2, 2009
851 posts
230 upvotes
sqara82 wrote:
Mar 29th, 2016 9:58 am
I don't have a youtube account, but I make some income from my website and other social media. You are right, it is not straightforward for CRA to track this income.

However, first principle of entrepreneurship is to never lie on the tax forms. So my advice, just like everyone else here, is to be honest and declare your income.

You can look at eligible deductions such as expense writeoff, equipment capitalization, etc. Producing quality content and generating income from youtube or a blog is a full time job (albeit a fun one).
It is very easy for the CRA to track income that has gone thru bank accounts. They will see that Paypal/Skrill/Instadebit/bank (Insert x here) deposited $1,500 into your account. They will declare this as income. It's up to you to prove to them that it is not income.

It's basically the only system in Canada where they don't have to prove you are guilty, you have to prove your innocence
Sr. Member
Jul 17, 2013
584 posts
92 upvotes
Greenwich, CT
sqara82 wrote:
Mar 29th, 2016 9:58 am
I don't have a youtube account, but I make some income from my website and other social media. You are right, it is not straightforward for CRA to track this income.

However, first principle of entrepreneurship is to never lie on the tax forms. So my advice, just like everyone else here, is to be honest and declare your income.

You can look at eligible deductions such as expense writeoff, equipment capitalization, etc. Producing quality content and generating income from youtube or a blog is a full time job (albeit a fun one).
This is a pretty knowledgeable reply.

Honestly, if you made a ton of YouTube money, you would probably figure out that it is not in your best interest to stay in Canada. You would make sure you are not in Canada more than 183 days a year and declare yourself a non-resident to avoid high taxes.

However, before you get to that stage, you will need to report this income stream as others have said on here. There is a simple way to avoid the taxes (set up a US bank account unlinked to your Canadian citizenship), but why go through all the hassle (not to mention it's illegal) for so little money.

Just take advantage of the fact that you can claim expenses against anything you run as a business. So you can claim part of the rent/utilities/internet/phone/prop taxes/insurance as home office expenses. When you are going to the park and someone is shooting for you, you can claim a wage expense, etc.
Jr. Member
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Jan 9, 2014
109 posts
8 upvotes
Red Deer Alberta
Hi guys, name's Mark and I'm a YouTuber.

I created this thread because I have a question about GST and YouTube.

Do Canadian YouTubers need to file or have GST account if they earn more than $30K annually?

Any info would be great. Thanks!!
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Aug 15, 2015
1189 posts
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Markham, ON
Well mark, is your display picture of an attractive lady of Asian descent you or a stock image you purchased online? I don't want to speak with a man thinking he is a woman.

I apologize if you are a female and no I'm not a fulltime YouTuber. Does anyone know how much you get paid for watching YouTube videos full-time? Is that a job?
Deal Addict
Sep 9, 2010
3613 posts
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Burnaby
Mezzeric wrote:
Dec 7th, 2018 10:11 pm
Any Full-Time YouTubers Around Here?

Hi guys, name's Mark and I'm a YouTuber.

I created this thread because I have a question about GST and YouTube.

Do Canadian YouTubers need to file or have GST account if they earn more than $30K annually?

Any info would be great. Thanks!!

RFD-thread "Youtube money - Do you have to pay taxes??" : http://forums.redflagdeals.com/youtube- ... s-1951587/
yare yare daze...
[space reserved for peddling, shilling, self-promotion and advertising]
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Jan 9, 2014
109 posts
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Red Deer Alberta
Poppwl wrote:
Dec 7th, 2018 10:15 pm
Well mark, is your display picture of an attractive lady of Asian descent you or a stock image you purchased online? I don't want to speak with a man thinking he is a woman.

I apologize if you are a female and no I'm not a fulltime YouTuber. Does anyone know how much you get paid for watching YouTube videos full-time? Is that a job?
Lol. Sorry about that. It's Yui Aragaki, one of my favorite Jap actress. And NO, I'm a male. :P

YouTuber means content creator on YouTube. And yes, it could be a job. :)

Basically, CRA opened a GST account for me because I believe I hit certain quota? But my accountant said that "just ignore it because you don't sell stuff and you don't collect GST". I asked for 2nd opinion and they told me that I should have a GST.

So, I would like to know the opinion of full-time YouTubers around here in RFD. Do you guys have a GST account?
Last edited by Mezzeric on Dec 7th, 2018 10:48 pm, edited 3 times in total.
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