CRA identifies 5 key sectors of the sharing economy… CRA is working with industry and prov/terr to ensure compliance.

A Tax Tip released by the CRA, identified five key sectors,  in the sharing economy.  They are accommodation sharing, ride sharing, music and video streaming, online staffing, and peer/crowdfunding. CRA also noted in the Tax Tip that it is co-operating with industries, the provinces, and the territories to identify and address areas where the tax system and compliance might be affected.

For further information see Video Tax News Monthly Tax Update Newsletter, Issue No. 429