i have a client that has the wife runs the shop, the husband put in some $$, applied for business license and gst
who’s return does it go on?
thinking of substance (wife) over form (husband) - but not sure of CRA
thanks for any input
S125… is this a corporation or a sole proprietorship ( whose tax return)?
If corporation… then the tax return it belongs on is the Corporations.
Whom the shareholders are is in the Minute Book.
If Sole Proprietorship… T2125 … not S125
If the Business number is only in the husbands name then it is the husbands business. He collected the HST. He has the licenses
The fact that she runs the shop has no bearing on the legal status that he is the owner.
If they intended this to be a partnership, or to be in her name… they can proceed with the legal paperwork to change things for the future.
thanks
T2125 of course
it is self employed
so on husbands return
i appreciate it - tax brain fog at the moment
Not a problem… we have all been there.