The CRA Is Reminding 'Influencers' To Pay Tax If They Made Money Via Social Media

This includes TikTok, YouTube, Instagram, Twitch and more! 💰
Canadian Social Media Influencers Have To Pay Tax According To The CRA
Michel Bussieres | Dreamstime Mikhail Primakov | Dreamstime
Managing Editor, Canada

If you’re making money online, you’ll need to pay tax on it! That’s the message coming from the Canada Revenue Agency (CRA), as it reminds Canadian social media influencers that the tax deadline is fast approaching.

In a new notice, the agency explained, “When posting is a source of income, [the CRA] considers it a business activity.”

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This includes posting on social media platforms like TikTok, YouTube, Instagram, Twitch, Facebook and Twitter, as well as blogs and similar websites.

It’s considered to be a business activity if you’re making money by posting photos or videos, getting subscriptions to your channel(s), advertising, accepting or giving out sponsorships, selling merchandise, taking tips or donations and accepting freebies like products, clothes or trips.

All of this social media income (both monetary and non-monetary) must be reported on your income tax return, the CRA says.

To avoid making a mistake, be sure you double-check your return before filing!

CanadaMoney
  • Helena Hanson

    Managing Editor

    Helena Hanson (she/her) is the Managing Editor of Canada for Narcity and MTL Blog, where she brings her expertise in dreamy, aspirational travel journalism to life. A first-class graduate of Cardiff University's School of Journalism, Helena has a passion for inspiring readers to discover the magic in their own backyards. Originally from the U.K., Helena has spent years uncovering hidden gems and must-see destinations across countries like Sri Lanka, Vietnam, Indonesia, Japan, and more. Having lived in both Canada and Australia, she's become a seasoned expert in off-the-beaten-path adventures and bucket-list experiences that don't break the bank. Whether she's writing about things to do in Ottawa, Montreal, or her favourite spot—Disney World—Helena hopes to leave readers dreaming of their next adventure.

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