Question

As a small business, do I claim the cashback from my credit card as income?

Forum|Forum|4 years ago
January 10, 2022
1 reply
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No, you do not claim cashback from credit cards as income- credit card rewards are treated by the CRA as discounts, not income, and are therefore not taxable. You are not taxed on the money you save using coupons and store discounts, or on the incentives your credit card company provides to encourage you to use its cards, such as points and miles.

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