It's Small Business Week 2024 – explore the CRA's tools to support Canada's entrepreneurs

This Small Business Week, the Canada Revenue Agency (CRA) is celebrating the dedication and impact of small business owners— the heart of our communities. The CRA is here to make tax filing easier, so you can spend more time growing your business.

Check out our services and resources to help you file faster and get back to what you do best—running your business.

CRA's fall improvements to our digital services!

The Canada Revenue Agency (CRA) has introduced several improvements to its digital services for My Account, My Business Account, and Represent a Client. These enhancements, which include a new look and feel for portal pages and mail service updates, aim to make it easier for users to interact with CRA services. My Business Account users can access new features like, viewing Canada Carbon Rebate details, and use an SR&ED self-assessment tool. Represent a Client has also been updated with a redesigned interface for more secure and user-friendly access.

Canada Carbon Rebate for Small Businesses: Payment Rates and Online Estimator

The CRA has published the payment rates for the Canada Carbon Rebate for Small Businesses. These rates will help businesses understand the financial benefits they can expect from this program. We are also introducing a new online tool that allows businesses to estimate their rebate amount based on their specific circumstances.

The CRA plans to issue the rebate to eligible CCPCs that filed their 2023 tax return no later than July 15, 2024, by the end of the calendar year. Most businesses should receive their payment by:

• December 16, 2024, if registered for direct deposit; or,
• December 31, 2024, if receiving a payment by cheque.

Get ready by:

• signing up for direct deposit: ensure your business is enrolled in direct deposit to receive payments quickly, securely, and without disruption.
• updating your business information: verify that your business address and contact information are current and accurate in our records.

To view the rates or for more information on the rebate, including eligibility criteria and how payment will be calculated, please visit Canada Carbon Rebate for Small Businesses.

Sign Up for SR&ED Webinars and Check Out Our New Client Portal!

Happy Small Business Week! The Scientific Research and Experimental Development (SR&ED) program is proud to contribute to the innovation, transformation and expansion of the small business community in Canada. We invite you to celebrate with us this week by attending a webinar on October 23rd and 30th to learn more about our program.

As part of our commitment to developing more accessible support and tools to help businesses of all sizes, we have also launched a new client portal for SR&ED claimants. The portal is a one-stop workspace designed to help you start building your SR&ED claim, interact directly with the CRA, and more! Check out the portal in My Business Account today!

Learn more about the creation of the client portal and how it supports SR&ED claimants by reading Gustavo's story.

Alternate formats

Did you know that we offer some of the CRA's forms and publications in e-text or large print format downloadable right from Canada.ca? If the product you are looking for is not available in your preferred format, you can order it using our alternate formats order form.

New reporting rules in the digital economy

The Reporting Rules for Digital Platform Operators received Royal Assent on June 22, 2023. Under the new rules, reporting platform operators and reportable sellers have a role.

If you are a reporting platform operator, you are now required to collect, verify, and in some cases report information on certain sellers to the CRA.

If you are a reportable seller, be aware of what is being reported to ensure it's accurate and consistent with what you report under existing tax obligations.

The first filing deadline is January 31, 2025 for the 2024 calendar year.

To determine if you're affected, refer to: Reporting Rules for Digital Platform Operators.

Crypto-asset and platform economy information: now available in Arabic, Spanish, Simplified Chinese, and Punjabi

If you are a crypto-asset user carrying on a business or a small business owner who operates your business on a platform or app, it's important that you understand your tax obligations. That's why we've translated our crypto-asset and platform economy tax tips into four additional languages: Arabic, Spanish, Simplified Chinese, and Punjabi.

Check out these tax tips which summarize information on crypto-assets and the platform economy

• Top 10 tips for your platform economy tax obligations
• How earning from online platforms can impact your taxes
• Reporting your crypto-asset income as an individual carrying on a business