Whether the earnings you make from online platforms is your main source of income, or a small part of it, you are considered to be a platform economy participant. When it’s time to file your taxes, you must report all sources of your income, including gifts and donations.

Each area of the platform economy is unique, and participants can have different tax obligations.

For example, in general, if you provide goods or services and earn more than $30,000 over four calendar quarters, then you must collect and send the related goods and services tax / harmonized sales tax (GST/HST) to the Canada Revenue Agency (CRA). However, if you earn income from ridesharing, you must collect and send the GST/HST to the CRA regardless of the amount you earn.

This year, there have been many announcements about changes that will affect business taxes in 2024. We have pulled them together here for quick reference, along with a list of resources that can help you manage these changes and your tax affairs in the new year.