I have a fulltime job with a company but in my spare time I do some contractor work for a few clients I gathered overtime. I understand that I have to pay income tax at the end of the year over my gross income I make extra as a contractor, but what about CPP? Do I have to contribute to CPP if I make, let's say 20K extra a year as a contractor? And if so, how would I make those payments?
For the income tax part, I can simply add my gross income of contractor work on top of my income I make through my regular job and then pay the tax bill. I am not sure what I have to do with this CPP thing.
Also please note that I did not register a company. I am doing business under my own personal name and I have no employees. It's literally just some part-time work I do on the side and I charge an hourly rate to my clients.
Any advice would be highly appreciated.