What is a T1 Return and how do self-employed Canadians file it?

The T1 General Income Tax and Benefit Return is Canada's main personal income tax return. As a self-employed person, you file a T1 each year to report your business income, claim deductions, and calculate your tax owing or refund. For self-employed individuals, the T1 is accompanied by **Form T2125 (Statement of Business or Professional Activities)**, where you detail your business revenue, cost of goods sold, and all allowable business expenses. Your net business income from T2125 flows to your T1. Key steps when filing as self-employed: 1. Complete Form T2125: List all business income and expenses 2. Calculate net business income (line 13500 on T1) 3. Calculate CPP contributions owing on self-employment income (Schedule 8) 4. Apply the Basic Personal Amount and other credits 5. Calculate federal and provincial tax owing 6. Deduct any instalments already paid 7. Pay balance or claim refund You can file your T1 using NETFILE-certified software (e.g., TurboTax, Wealthsimple Tax, H&R Block) or paper T1 forms mailed to the CRA.

• T1 Return is Canada's main personal income tax form
• Self-employed must also complete Form T2125 for business income
• Net business income from T2125 flows to line 13500 of T1
• Also complete Schedule 8 for CPP contributions on self-employment
• File via NETFILE software or paper — deadline 15 June for self-employed