Tax Tips for Prince George Side Hustles, Garage Sales & Small Businesses
The money questions locals actually ask — answered in plain language, with the CRA rules that apply in BC.
Do I have to pay tax on garage sale money?
Generally, no. Selling your own used belongings for less than you originally paid is a sale of personal-use property, and it doesn't create taxable income. Clear out the garage guilt-free — and list the sale on our garage sale map while you're at it.
The line gets crossed when selling becomes a business: regularly buying items to resell at a profit, flipping furniture, or making goods to sell. That's business income in the CRA's eyes, and it belongs on your tax return.
My side hustle is growing. When does the CRA care?
From the first dollar. There's no magic threshold under which self-employment income is tax-free — lawn care, baking, crafts, delivery apps, it all counts, reported on form T2125 with your personal return. The upside: expenses like supplies, mileage, and a portion of your home costs can be deducted against it. If your side income has become real money, a professionally prepared personal tax return in Prince George usually pays for itself.
When do I have to start charging GST?
Once your taxable sales pass $30,000 over four consecutive calendar quarters, you're no longer a "small supplier" — you must register for GST, charge it, and remit it. Growing side hustles cross this line all the time without noticing, and catching it late is expensive. Tracking sales as you go is exactly the kind of thing a local Prince George bookkeeper quietly handles for you.
What records do I actually need to keep?
The CRA expects you to keep records for six years from the end of the tax year they relate to. Bank statements, invoices, and receipts are the backbone — the rule of thumb is simple: if you claim it, you should be able to show it. A shoebox counts as a system right up until the day it doesn't.
Should I incorporate my small business?
Incorporation can bring liability protection and tax planning room, but it also brings a mandatory annual corporate return, separate records, and real cost — every BC corporation must file a T2 every year, active or not. Many operations are better off staying simple until profits consistently exceed what the owner needs to live on. When you're weighing it, that's a conversation for someone who prepares corporate tax returns in Prince George year-round.
File even if you made almost nothing
Plenty of benefits flow only to people who file: the GST/HST credit, the BC climate action tax credit, the BC family benefit, and more. Students, seniors, and low-income households often leave real money unclaimed simply by skipping a return where no tax was owing.
Behind on your books or your taxes? It's fixable.
Years of unfiled returns and unreconciled accounts are far more common than anyone admits, and the path back is methodical rather than scary: rebuild the records from bank statements and CRA slips, file the outstanding years together, and set up a routine so it never piles up again. Refunds can generally still be claimed up to ten years back. If that's you, start with catch-up bookkeeping in Prince George — no judgment, just a way out.
More from Fraser Finds: homeowner electrical guides · this week's garage sales · everything else
This guide is general information for BC residents, current as of July 2026 — it isn't personalized tax advice. Rules change and situations differ; confirm how they apply to you with a professional or the CRA directly.