Business income is income you earn from a profession, a trade, a manufacture or undertaking of any kind, an adventure or concern in the nature of trade, or any other activity you carry on for profit and there is evidence to support that intention.
For example, income from a service business is business income. Business income does not include employment income, such as wages or salaries received from an employer.
Original Article Source Credits: CANADA , https://www.canada.ca/
Article Written By: NA
Original Article Posted on: 2020-04-21
Link to Original Article: https://www.canada.ca/en/revenue-agency/services/tax/businesses/small-businesses-self-employed-income/business-income-tax-reporting/business-income.html