The Canada Revenue Agency is monitoring certain social media accounts, particularly those of influencers earning more than $500,000, to see if their paid sponsorships line up with their tax filings. The agency is also keeping a close watch on video-game streamers with millions of followers who use platforms like YouTube and who earn their income through subscription fees and merchandise sales. (The Globe and Mail)

Talking point: Ted Gallivan, the CRA’s assistant commissioner, said the income ranges of certain influencers and streamers were “quite surprising,” adding that there was “a lot of open source intelligence” that led the CRA to contact certain vendors. CRA rules mandate that people who earn money through social media channels must report all their income—even non-monetary streams like free trips, donations and gifts—through a personal-income tax return, or a corporate-income tax return if they are registered as a business. A 2019 Business Insider intelligence report suggests that brands could spend up to US$15 billion on influencer marketing by 2022.