In indicating that an amount described as a “gift” could be business income to the recipient, CRA stated:
…IT-334R2[, para. 4] … states that voluntary payments received by virtue of a profession or by virtue of carrying on a business are taxable receipts. Paragraph 11 … states that if the hobby or pastime results in receipts of revenue in excess of expenses, that fact is a strong indication that the hobby is a venture with an expectation of profit. In such case, the net income may be taxable as business income. … [P]articipation in a specific arrangement that allows for the receipt of money may be an indicator that the money is business income and therefore taxable.