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Subscribe to this list via RSS Blog posts tagged in Income Tax Act

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. 

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When a person (whether a corporation or natural individual) crosses a border to perform services, Canada and the US have detailed taxing rules, aimed at ensuring that the person entering the other country properly reports those activities.  These rules often come with mandatory “withholding taxes“ on the payer of the services resident in the country where the services are being performed.

Canada has recently fine-tuned its position on Regulation 105 withholding, which may come as a surprise to many involved in the cross-border provision of services.  

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All taxpayers under audit should be aware of both the scope and limitations of Canada Revenue Agency’s audit powers, as well as the consequence of failing to respond to a CRA Auditor’s valid request for documents or information.

The Federal Cout decisions in Canada v. Money Stop Ltd. (2013 FC 133), and Canada v. Money Stop Ltd. (2013 FC 684) are poignant reminders that ignoring the demands of a CRA auditor may land the Director(s) of the Corporation in prison!

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