The new year brings possible new tax reporting requirements for direct sales platform operators (“Direct Sellers”)!
These changes stem from amendments to the Income Tax Act (“ITA”) and mandate that digital platform operators throughout the online “gig” economy report income and certain other information about some of the sellers using their websites or apps to the Canada Revenue Agency (the “CRA”). See our prior article for more technical information.
Those affected include certain Direct Sellers operating on a “buy-resale” model. Filings for the 2024 year are due by January 31, 2025!
Which Direct Sellers Are Affected?
Tagged in:
Buy-Resale
Canada Revenue Agency
Digital Platforms
Direct Sellers
Independent Sales Contractors
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