Hey guys, I live in canada and I was wondering.... If i charge, oh for sanity`s sake lets say, 5$ admission to my game to make a character, I was wondering how I would file my taxes... See im only 15 and really have no clue about how this works, so if any one can shed some light on the situation I would be really pleased...
Thanks tons!
-Majik
ID:175683
 Mar 21 2003, 8:06 am
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Mar 21 2003, 8:31 am
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Maz
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Well you shouldnt realy be charging 50Dimes to go into a game in the first place, but even then. As a 15year old you dont need to pay 'incom' taxes, well atleast over in the UK you dont..
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Hey hello there I also live in Canada butabout your problem.
Personally I don't believe anyone is going to pay 50 dimes to play your game when we haven't heard or seen anything about it. If its just another side scroller or DBZ game why play yours when we could play a free one that might be better? Anyways If you want to know how to get you cash back from the game you make you need a credit card. Maybe your Dad or Mom or Legal Guardian can take it out for you. ... But I highly doubt you'd make anything because the Majority of the BYOND community doesn't have 50 dimes to spend on a game. | |
What's wrong with charging 50 dimes for a game? Here's more of that attitude that's keeping the BYOND economy down... I mean, $5 really is peanuts compared to any commercial game... Heck, it's less than most of us spend on lunch per day ... Of course, with the current BYOND mentality, few people will spend 50 dimes on a game, because they have that cheap outlook...
Anyways, as for taxes, I'm not sure if there's a minimum age (I checked my federal booklet, and it mentions that income to children under 14 can be added to the parent's return, but other than that, it's very vague)... However, there is a minimum income... If you're single, and a minor, you only have to file if you've made more than $750 that year... Of course, this rule is a US tax law, so it's probably diofferent in Canada...but I'm guessing it's set up very similarly... But basically, unless you end up making a TON of money off of it, you probably don't need to worry... | |
You only need to file taxes in Canada if you make over 5000 or something a year. I am 15 with a job at Boston Pizza and I got a tax form when I didn't even make that working 1 day a week. So forget about the Taxes dude until you have to.
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I don't know how much a year you have to make. I thought I heard that it was around $5000 but now knowing the State's requirment I highly doubt what I heard
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Actually, I believe I read it wrong... There's another minimum that's set at about $4,500, and they categorize them under earned and unearned income... Earned is how much you make at a job, and things like that, Unearned is stuff like interest on savings accounts and such...
I think they'd classify BYOND subscriptions as Earned income, so the limit for that is the $4,500... The $750 that I read looks to be only for unearned... But then they go on and add some bit about gross income (the combination of the above two types) being "the greater of: 750 or $4,500 + $250" and some other nonsense...lol So I'm not entirely sure what the real minimum is... Most likely it's the $4,500... I couldn't see them collecting taxes on anything less... It would almost cost them more to process the forms than they'd get in tax money...lol So anyways, the chances are that he's not going to make anything over the limit, so there's no need to worry about it... (and to be quite honest, even if he did go over the limit, they'd probably never know, anyways) (Note: Just in case... All amounts in my posts are in American dollars, not Canadian... So I'd go with what Unowuero says for the Canadian limit...) | |
Well if hes just beginning I wouldn't suggest he charge to make a character because he probably wouldn't get very many people to play untill lots and lots of people have played it and say it's good. But of course, thats his choice, but I, myself, wouldn't charge for a game till I absolutely know it would definatly make money, and that people like it (which is why it would make money.).
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My understanding is that all earnings by Canadian citizens under the age of 18 are tax-exempt, unless the money is earned from compensated labour in a union- or WCB-protected business. For example, if you take a job at McDonalds, you have to pay taxes on the money you earn. But if you get paid $50 to fix your grandpa's shed, you don't have to report those earnings.
You might want to visit the Canada Customs and Revenue Agency website: http://www.ccra-adrc.gc.ca/tax/menu-e.html | |
Personally I don't believe anyone is going to pay 50 dimes to play your game when we haven't heard or seen anything about it. Since when does someone have to explain what their game is like when asking about taxes on earnings from that game? Anyways If you want to know how to get you cash back from the game you make you need a credit card. Maybe your Dad or Mom or Legal Guardian can take it out for you. ... But I highly doubt you'd make anything because the Majority of the BYOND community doesn't have 50 dimes to spend on a game. That should change once the currency is switched into the U.S. dollar, assuming that it will get switched. Once people realise that 50 dimes is not 50 dollars, people will be less reluctant to sell things for ridiculously cheap prices. | |
Ok guys thanks, and by the way, Im really not gonna charge 50 dimes for a login, Its gonna be something like a buck every month or something, mabee less. My game is gonna rok tho.
Have any of ya ever played Asherons Call? My games kinda like that, minus the 15 dollars a month and microsoft support... Cyall later -Majik | |
Unowuero wrote:
Anyways If you want to know how to get you cash back from the game you make you need a credit card. Not true. I never gave Dantom any credit card info, and I've gotten money from my games. | |
Heyas all. Okies, so let me get this streight. As long as I dont make more than 4.5 K a year off of Edge Of Reality, I can do whatever my little heart desires with the money and the IRS, or the canadian equivelent to... will leave me the Hell alone!?! HOW KEWL IS THAT!
Yet another example of how the geovernment fails to give everyone the ring around... hehehehe! I think I`ll rub it in my dads face that I could make just about double his monthly income a year if he gave me internet the cheap.... Yikes! I started ranting there and i din`t even know it! Thanks a million guys I owe you all a free account! AND FOR %^&* SAKES IM NOT GOING TO CHARGE 5 BUCKS! just had to get that out -Majik | |