February 22, 2024

The Queens County Citizen

Complete Canadian News World

Almost half of platform workers do not want to declare their income

Almost half of platform workers do not want to declare their income

According to a survey conducted on behalf of H&R Block, nearly half of workers who allow digital platforms such as Uber or Doordash to operate do not plan to declare their income this year.

According to the poll, 44% of Canadians who earned income from the platform economy in 2022 are willing to take the risk of not declaring it when filing their taxes.

The platform economy, also known as the “gig economy” in English, refers to income generated using new digital platforms. They can mention what they have out of pocket delivering meals or transporting people, for example, money earned by renting a chalet or their car or even providing a dog walking service. Goods and services sold on platforms such as marketplaces also fall into these categories.

“While it’s easy to assume that small amounts will go unnoticed by not reporting all income to the CRA, if Canadians are subject to an audit they will be required to pay all tax amounts owed, plus interest and serious penalties. If caught,” warns Yannick Lemay, training expert at H&R Black Canada.

More broadly, 28% of Canadians say they have already received income from the platform economy. The majority of people using these platforms (74%) explained that they earn extra income from their main salary. Two-thirds of respondents said they felt it was a good way to deal with the rising cost of living.

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