Uber & Lyft
Uber and Lyft drivers are not considered “Employees” by CRA. Instead they are classified as independent contractors, meaning the ride share services are small business owners in the eyes of the CRA, and they are required to pay taxes on the ridesharing income.
As an independent contractor, you still have to pay regular income taxes in addition to self-employment taxes. The amount you’ll pay depends on the amount and types of other income you have, your filing status, the tax deductions and credits you’re eligible to claim, and your tax bracket.
ETAXCAN expertise will prepare and file your taxes for UBER and LYFT in an effective way to get more tax benefits to enjoy with your financial.