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.

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.