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“The biggest mistake is reporting and tracking their income,” said Gerry Vittoratos, the national tax specialist at UFile Canada. “Every dollar you make is taxable. There’s no threshold there. The moment you start making side hustle income, it’s taxable.”

Vittoratos explains if you’re doing a one-off gig, such as working for Elections Ontario during the election, and it’s not ongoing income, it will be counted as incidental employment income, not self-employment.

Vittoratos said when it’s a side hustle that’s generating ongoing income, such as working for DoorDash or Uber, then it becomes a form of self-employment and it needs to be submitted as such.

”They’re all considered business income,” he said. “They have to be declared.”

Many with side hustles aren’t properly tracking expenses

Vittoratos said many people working side gigs will know their income, but won’t be able to properly claim expenses because they haven’t been keeping track with all proper associated documents or records. Then, when it comes to tax time, they’re not able to properly account for them.Ìý

”The biggest mistake people make is omissions. They don’t include things (certain expenses) because they didn’t properly archive their stuff,” he said. “Because of that, they miss out on making claims to reduce their taxes.”

If you aren’t sure what you can be claiming or what might work for your side hustle, Ìý

If you’re self-employed, even through a side gig, a professional can helpÌýyou reduce the amount of taxes you may owe to the government by helping you claim expenses correctly.

What can you do to track your income and make things easier for yourself come tax time?

Vittoratos said most people working side gigs don’t have money to hire an accountant to do their bookkeeping throughout the year — and that’s OK.

What you need is a good system in place to track your income and expenses through the year — so when tax time comes you’re prepared.

“To be honest with you, it’s never been easier to do that through apps,” he said. “There’s a bunch of accounting apps that are out there, some free, some that charge.”

Expenses can include your gas, vehicle insurance and other things necessary for you to earn your income can be deductible on your taxes.

What happens if you don’t declare all your income?

You are required to submit all your income to the Canada Revenue Agency (CRA) when you file your taxes.

For people gaining income from larger companies such as Airbnb, Uber, DoorDash and others,ÌýVittoratos said it’s incredibly important to be honest with the government about what you’re making.Ìý

The government can go to the vendor, whether it be Uber or other companies — whoever is paying you — and ask them who they paid to work through their service or company.

“There’s gonna be a paper trail,” he said.

If you don’t file all income tax information correctly and accurately, it could put you at risk for a reassessment.

This is why getting an accountant can help, if your tax filing is a bit more complicated or you don’t really know what you’re doing.

What’s the deadline for filing my taxes in Canada?

The and benefit return and pay any taxes owed is April 30.

Generally, if you or your spouse or common-law partner who was living with you at any time during the year are self-employed, you have until Sunday, June 15, to file your income tax and benefit return.

Since this date falls on a Sunday, the CRA will consider your income tax and benefit return filed on time if it’s receive on or before Monday, June 16. But if you owe money, you will still need to pay by April 30 to avoid paying interest.

For more information about filing your taxes, visit .