Canada to Start Tracking Gig Workers’ Income Under New Tax Rules

Canada will require digital platforms like Uber and DoorDash to disclose their workers’ earnings to tax authorities from 2024, marking a significant change for millions of gig workers under new federal legislation.

The amendment to the Income Tax Act, Bill C-47, sets a January 31 deadline for platforms to report to the Canada Revenue Agency. The requirement applies to workers earning above $2,800 annually who complete more than 30 platform activities.

“It does not change how you should look at your taxes, because the rules for taxpayers did not change,” H&R Block tax expert Yannick Lemay told The Toronto Star. “But it changes how CRA might reconcile your income to find out if you have, indeed, declared all your income.”

Platforms must provide workers with copies of their CRA filings, though disclosure formats may differ between companies. The legislation affects a growing gig workforce, with Statistics Canada reporting more than 800,000 people rely on such work as their primary income.

A survey by H&R Block found that among nine million Canadians in the gig economy, 43% said they would consider risking not declaring all income to reduce their tax burden. Both Uber and DoorDash confirmed they will comply with the new requirements, while Lyft and Skip the Dishes did not respond to requests for comment.


Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Why the Market May Be Misreading Iran | David Woo

Why US Fertilizer Supply Could Matter a Lot More Now | Pat Varas – Sage Potash

Roscan Gold: Mali Discount Hits Kandiole PEA

Recommended

First Majestic Aims To Restart Production At Jerritt Canyon In H2 2027

Mercado Minerals Identifies A Series Of New Targets Following LiDAR Survey At Copalito

Related News

Canadian Federal Government Releases Fiscal Update Regarding Mounting Coronavirus Costs

As Canada begins the economic recovery phase from the coronavirus pandemic, the federal government has...

Thursday, July 9, 2020, 01:06:49 PM

Binance To No Longer Service Ontarians Following OSC Crackdown On Crypto Exchanges

It appears that the writing might finally be on the wall for the use of...

Saturday, June 26, 2021, 11:18:19 AM

Canada’s Economy Expanded By 0.7% In January

Canada’s recovery appears to be showing continued resiliency, despite a second wave of pandemic-related closures...

Thursday, April 1, 2021, 02:39:00 PM

Value of Building Permits Recovers in June, Rises 6.9%

Following a month of record declines that saw building permit values suddenly plummet 14.8% in...

Thursday, August 5, 2021, 04:39:00 PM

Justin Trudeau Passes Bill C-10 to Regulate Social Media Programming, Streaming

On Tuesday, lawmakers in Ottawa passed a new bill that would control content distributed by...

Wednesday, June 23, 2021, 11:42:00 AM