What is changing starting January 2025:

1. T619 electronic transmittal

2. Submitting one information return type per file

3. Early system shutdown notification, 2024

The Canada Revenue Agency (CRA) is responsible for collecting individual overpayments for all COVID-19 benefit programs, such as the Canada Emergency Response Benefit (CERB), the Canada Recovery Benefit (CRB) and the Canada Worker Lockdown Benefit (CWLB).

Starting in July 2024, for individuals who have not responded or co-operated, and who have been determined to have the financial capacity to pay, legal warnings will be issued and legal measures could be taken to recover monies owed. Legal measures are only taken when there is no cooperation from an individual with ability to repay the debt.

Whether you’re here for the heat or not – we know one thing will never go out of season: benefit and credit payments and tax-free savings.

Read on to find out what’s new, what’s changing, and what payments you could receive to help you beat the heat.

The Canada Carbon Rebate for Small Businesses is a refundable tax credit announced in Budget 2024 to return a portion of federal fuel charge proceeds directly to eligible Canadian-controlled private corporations (CCPCs).

The Canada Revenue Agency (CRA) is working towards issuing the retroactive payments, which total over $2.5 billion with respect to the 2019-2020 to 2023-2024 fuel charge years.

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 deadline to apply for the second and last benefit period of the interim Canada Dental Benefit (CDB) is fast approaching – apply by June 30! Don’t miss out on your opportunity to get up to $650 per child for dental care. To be eligible, your child must have received dental care between July 1, 2023, and June 30, 2024.

The information below will help guide you through some of the important questions that you might have when it comes to eligibility, how to apply, and how you can get your payments quickly.

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.

The platform economy includes economic activities facilitated by digital platforms, like websites or mobile applications. Commercial ridesharing and delivery services are two common activities in the platform economy sector. These activities are part of different areas of the platform economy, and come with different tax obligations.

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.