May 10, 2021
Canada Revenue Agency (CRA) To Target Gig Economy Workers & Sharing Economy Revenue
CRA has identified four different “platform economies” that it’s focusing on….
Sharing economy: The sharing economy is where folks use their personal assets, such as cars or homes, to generate revenue by sharing those assets with others in return for payment. Typically, the asset owner registers with a third-party platform, such as Airbnb, CanadaStays, Uber, or Lyft.
Gig economy: The gig economy is where people provide short-term services or work on a contract or freelance basis – as opposed to a permanent employment position. These folks are generally considered by the taxman to be self-employed.
It looks like if you are a Gig Economy Worker and part of the Sharing Economy you are doubly likely to get audited by the CRA.
It’s been well documented for years that the CRA requires a mileage book to denote the business usage of your personal automobile.
They are taking the same approach with cellphones.
We keep Contractors/Gig Economy Workers/Freelancers/Gig Divers on the right side on audit when the CRA comes knocking.
Check out our Video on how we can get you a legitimate $1,000 tax deduction and keep you bullet proof in the event of an audit : https://www.linkedin.com/feed/update/urn:li:activity:6775461054710468609/Back