As we celebrate Small Business Week from October 20 to 26, the Canada Revenue Agency (CRA) is here to support Canada’s small business community. This week is dedicated to helping you connect, learn, and grow your business knowledge. We’re excited to share tax resources, tools, and services to help you tackle the challenges of running a business and keeping your tax affairs in check.

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 January to June 2024, I was asked just over 1,100,000 questions in English and 160,000 questions in French. As we head into Small Business Week 2024, I am here to give you some information about business taxes based on questions that I’ve received from others. 

You may be affected by Canada’s new Reporting Rules for Digital Platform Operators if you use digital platforms to earn income. These rules have been implemented to increase transparency and support compliance in the international tax community.

Under the rules, certain platform operators are now required to collect and report information on sellers considered to be reportable sellers to the Canada Revenue Agency (CRA). If you are a reportable seller, be aware of what is being reported by your platform operator(s) to ensure it’s accurate and consistent with what you report under existing tax obligations.

New reporting requirements for digital platforms have been implemented to increase transparency and support compliance in the international tax community. These reporting requirements are known as the Reporting Rules for Digital Platform Operators.

Under the rules, reporting platform operators are now required to collect and report information on sellers considered to be reportable sellers to the Canada Revenue Agency (CRA). 

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.