Deduction for Copyright Income

Copyright Income is accounted for within your tax return as part of line 297 (MISCELLANEOUS DEDUCTIONS). You may have more than once miscellaneous deductions and specify the code 88 in box 296 or, if using just one, enter the appropriate miscellaneous deductions code. If you are only including your copyright income, enter code '16'.

The Copyright Income Calculator below will calculate the relevant amount to enter on line 297, simply enter your copyright income.

Deduction for Copyright Income Calculator

					1	$ 15,000.00
Copyright Income (Max $60,000.00 see line 297 in the guide)	2
	3	$ 30,000.00
Subtracts line 3 from line 2. If the result is negative then 0.	4			x 0.5 =	5
Subtracts line 5 from line 1.					6
Amount on line 2 or 6, whichever is less. This amount is added to line 297 of your return.	Deduction for Copyright Income				7

About Copyright Income Tax Relief

Income gained from copyright revenue can be used to reduced your taxable income (the figure that your tax is computed on). Specific earnings thresholds and splits apply as shown within the steps on the Copyright Income Calculator.

Copyright income deductions can be claimed by performing artists, or artists within the meaning of the Act respecting the professional status of artists in the visual arts, arts and crafts and literature, and their contracts with promoters or the Act respecting the professional status and conditions of engagement of performing, recording and film artists.

In order to claim a copyright income deduction you must be the first owner of the copyright (copyrights include public lending rights).

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