Personal Finance

Youtube money - Do you have to pay taxes??

  • Last Updated:
  • Dec 14th, 2018 8:07 pm
Penalty Box
User avatar
Jun 24, 2015
2285 posts
Woodbridge, ON
Mezzeric wrote:
Dec 8th, 2018 6:07 pm
Thank you all for your responses. Okay, to tell you the truth I earn 6 digits annually on YouTube alone.

My accountant nor me didn't open my GST account. CRA did. They just informed me that I need to have one.

I know I have to declare everything, I even have a business number. Though, my concern is all about GST.

GST is the stuff that you pay whenever you buy something. It's fixed 5%.

I'm currently talking to one Canadian YouTuber that does YouTube full-time. He said that he has a GST-free account because Google is an American company, they already take the tax and he doesn't sell stuff.

So, this is all confusing as to why I have a GST account and need to pay. How come other Canadian YouTubers are zero-rated?
Hi mark, how a business works is this regardless if its youtube or ibm or amazon, you are considered a vendor, so you send an invoice to youtube, they then pay you based on how many people watched your silly videos. any time you get a payment a portion of that is gst, so they PAID you money which is amout plus gst = the total they paid you, you need to save those invoices and calculate how much of the money they gave you was gst, then you REMIT that gst back at the end of the year to the canada revenue agency.

GST does not always have to do with selling, its also getting paid from vendors.

by the way what is your youtube channel? no sense hiding, since you have made yourself a public figure already by being on youtube, you can not be a big youtuber and be anonymous now a days so we will eventually find out who you are so just tell us anyways its no big deal. you have no privacy when you put videos on youtube anyways
Deal Addict
User avatar
Mar 31, 2009
1076 posts
aznnorth wrote:
Mar 28th, 2016 9:21 am
But who verifies you generated any income? Not like youtube sends tax receipts to CRA.... it's like doing cash jobs. No reporting. Money is direct deposit.
Cash jobs are taxable income. You have to report that as income. You might have expenses that count against it, but you have to report it anyway. Same with youtube money.

Tax evasion can be pretty serious.

Track your earnings and report it on a T2125 on your personal tax return.
Dec 11, 2018
1 posts
1 upvote
If you receive money from Google Adsense (YouTube) you had to file all your banking information and your home address with Google. So Google sends you a form 1099 Misc at the end of the year. That's an income statement. Google is reporting that income to you. It is your responsibility to report that income to the CRA.
Dec 13, 2018
6 posts
CRA did the same thing to my husband even tho his clients are American, thus doesn't charge them GST.

CRA told him he still has to file GST every year but the good news is that he can file for a refund. So basically even tho he doesn't charge taxes on his invoices, he's allowed to claim a credit for the GST he pays on his business expenses. He gets a nice refund cheque every year from CRA.