Beginning this year, digital platform operators should be aware of the new tax reporting requirements under section 292 of the Income Tax Act (“ITA”). Many reportable digital platforms (including many online “gig” platforms) will now be required to file reports with the CRA providing information about the activities of their “reportable sellers”. Filings for the 2024 year are due by January 31, 2025!
Which Platform Operators are Affected?
The new requirements target a subset of “platform operators”, which under section 282 of the ITA include websites or applications that contract with sellers to use all or part of a platform to connect with customers.
Tagged in:
Canada Revenue Agency
Digital Platform
Income Tax Act
Reportable Platform Operators
Reportable Seller
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