Starting in 2013 and later years, corporations that earn income from a website are now required to file Schedule 88 – Internet Business Activities, with their T2 Corporation Income Tax Return.
Corporations are required to file Schedule 88 if they earn income from one or more websites which generate income in the following ways:
- The sale of goods or services through a website that offers payment processing;
- The sale of goods or services through a website that doesn’t support transactions, but requires customers to call, complete and submit a form, or e-mail to make a purchase;
- The sale of goods or services on an auction, marketplace, or similar third party website;
- Income from advertising, income programs, or traffic generated by your website
If you think that this form may be applicable to your corporation, please let us know.