Toronto-based tax lawyer David Rotfleisch recently contributed an article to Canadian-Accountant.com. In the writeup, David shares his insights on how the CRA is starting to pay attention to Canadian social media influencers to determine if they’re properly filing their taxable incomes.
“The CRA has long monitored social media platforms to determine whether taxpayers are posting information and content that are inconsistent with their reported income. As such, keeping an eye on social media influencers and video-game streamers in search for tax revenues reflects CRA’s ongoing effort at ensuring compliance with Canada’s tax system, particularly in context of e-commerce transactions and digital platforms. The CRA’s enforcement plan also reflects its initiatives at addressing issues pertaining to international tax evasion and aggressive tax avoidance, as well as encouraging transparency and fairness throughout Canada’s tax system.” — Canadian-Accountant.com, “CRA eyeing influencers, video game streamers for unreported taxes”
Read the report here.
"This article provides information of a general nature only. It is only current at the posting date. It is not updated and it may no longer be current. It does not provide legal advice nor can it or should it be relied upon. All tax situations are specific to their facts and will differ from the situations in the articles. If you have specific legal questions you should consult a lawyer."