New CRA Rules for Gig Economy Platforms: Reporting Requirements and Implications for Workers and Companies

• CRA has introduced new rules for gig economy platforms like Uber, Lyft, and DoorDash
• Companies must report payments to workers to CRA starting January 1, 2024
• Gig workers must report all income earned through these platforms on their tax returns
• Workers can claim eligible expenses and may need to register for GST/HST if earning over $30,000 annually
• Platforms must track and report worker income accurately to avoid penalties
• Non-compliance could lead to reassessments, penalties, and interest charges from CRA

Source: sdtaxlaw.ca

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

---

---