Taxes and the sharing economy: what you need to know

The following information is now available on Canada.ca:

Taxes and the sharing economy: what you need to know

The sharing economy connects individuals or businesses that are looking for a particular product or service to those that have it. Sharing economy arrangements are generally booked using online platforms through a third party, using a website or a software application.

Do your employees use their vehicle for work? Here's what you need to know

Do your employees use their personal vehicles for work-related travel? If so, you may provide them with an automobile or motor vehicle allowance to help cover expenses. It is important that you understand your responsibilities around these allowances.

What is an automobile or motor vehicle allowance?

An automobile or motor vehicle allowance is any payment that you give your employees for using their own vehicle in connection with their employment. This payment forms part of their salary or wages. An allowance is a taxable benefit to your employees unless it is based on a reasonable per-kilometre rate.

Please visit the CRA website here for additional informtion.

Disability tax credit

What is the disability tax credit?

The disability tax credit (DTC) is a non-refundable tax credit that helps persons with disabilities or their supporting persons reduce the amount of income tax they may have to pay. An individual may claim the disability amount once they are eligible for the DTC. This amount includes a supplement for persons under 18 years of age at the end of the year.

What to expect when the Canada Revenue Agency contacts you

Scammers posing as Canada Revenue Agency (CRA) employees continue to contact Canadians, misleading them into paying false debt. These persistent scammers have created fear among people who now automatically assume that any communication from someone representing the CRA is not genuine.

This tax tip will remind Canadians that the CRA does indeed contact taxpayers by phone, email and mail for legitimate reasons. The following tips will help Canadians identify legitimate communications from the CRA.

Click HERE to get more details from the CRA website