Question 1: What are some of the 2024 tax changes that could affect my business?

Last year, there were many announcements for businesses that took effect as of January 1, 2024. These include:

• Changes to mandatory electronic filing thresholds

• Changes to electronic filing for GST/HST registrants

• New reporting requirements for trusts

To help you understand these and other changes, we’ve pulled together a quick reference tax tip that covers what you need to know. Please check out the reference tax tip here: Here are the top changes this year that will affect business taxes in 2024.

Hi, I’m Charlie! Charlie the chatbot. You can find me on the Canada.ca/CRA webpage where I can answer questions about your business and other tax-related matters. From April to July 2023, I was asked just over 854,000 questions in English and 156,000 questions in French. As we head into Small Business Week 2023, I am here to give you some information about business taxes based on questions that I’ve received from others.

Here are answers to more of your top business tax information questions

High call volumes to the Canada Revenue Agency's (CRA) Business Enquiries Line can result in long wait times to reach a client service representative.

Here are some quick and easy alternatives to finding the information you need (instead of calling).

Check Canada.ca: We're improving the information on our web pages to make it easier for Canadians to find what they need online. This includes services and information for:

• business number registration;

• business income tax;

• payroll;

• GST/HST for business; and much more.