Earlier this month, we issued a tax tip answering your top seven business tax information questions. Now that the basics are covered, we can turn to more specific questions.

The Canada Revenue Agency (CRA) is here to support you and your business in meeting your tax obligations.

If you are a self-employed individual, or your spouse or common-law partner is self-employed, you have until June 15, 2024, to file your 2023 income tax and benefit return. Since June 15, 2024 falls on a Saturday, you will be considered to have filed on time if we receive your return on or before June 17, 2024.

Understanding the tax filing and payment deadlines for Canadian businesses can be tricky since different businesses have different deadlines. When you factor in GST/HST responsibilities, it can be confusing. Use this tax tip as a quick reference point for important dates as you manage your tax affairs.

For GST/HST reporting periods that begin in 2024, all GST/HST registrants, except for charities and selected financial institutions, are required to file returns electronically.

The mandatory electronic filing threshold that was in place for GST/HST returns has been removed for reporting periods that begin on or after January 1, 2024, which means that electronic filing is now required for most businesses.

The Canada Revenue Agency (CRA) is here to support you and your business in meeting your tax obligations.

If you are a self-employed individual, or if your spouse or common-law partner is self-employed, you have until June 15, 2023, to file your 2022 income tax and benefit return.

In light of the recent forest fires and other climate issues, here is a special note on requesting taxpayer relief after an adverse weather event…

What is a peer-to-peer sale?

A peer-to-peer (P2P) transaction involves the selling of goods from one person or party directly to another. You may be taking part in P2P selling if you are connecting with buyers through digital platforms like websites, online marketplaces or mobile applications (such as Etsy, eBay or Amazon).

What is the sharing economy?

In the sharing economy, individuals and businesses share their assets with others for a price. Arrangements are generally made using online platforms through a third party, or using a website or an application (app).

The sharing economy can take a variety of forms, such as:

• Transportation: ridesharing, rentals of bikes, boats, other motor equipment

• Accommodation sharing: renting out your home, rooms, cottage and more

• Space rentals: industrial kitchens, gardens, parking spots, workspaces, or laboratories

Did you receive subscriptions and perks like merchandise and trips or other income?

If you earned income by posting pictures, videos and more on your social media channels that involves product placement or product promotion, you may be undertaking a business activity. You can earn income from your social media activities in many ways, both monetary and non-monetary (barter transactions), including, but not limited to…

On September 24 and 25, 2022, Hurricane Fiona swept through Atlantic Canada and part of Quebec, causing heavy rain and high winds. Impacts included flooding, road washouts, downed trees, utility outages, and damage to coastal infrastructure.

This widespread damage is having a devastating impact on many businesses and Canadians residing in these areas. The Canada Revenue Agency (CRA) understands that at this time, the safety and well-being of loved ones is the primary concern for those affected.

The CRA is committed to a proactive approach to providing relief to the communities and taxpayers impacted by this event whenever possible.

You’ve got questions and we’ve got answers! Here are answers to five of the top business tax information questions.

• How do I register for My Business Account?

• How do I authorize a representative for my business?

• How do I access CRA’s online services for businesses?

• How do I make payments to the CRA?

• How do I file GST/HST using GST/HST NETFILE?