What Business Owners and Employees Need to Know If you run payroll, pay yourself through a corporation, or receive a T4, a change coming January 1, 2027, will reduce the base Canada Pension Plan (CPP) contribution rate for employees, employers, and self-employed individuals. Earlier this year, we reported that CPP Read more
Reporting for certain bare trusts begins with the 2026 tax year. Here is who is affected, who may be excluded, and what to do before December 31. On October 5, 2026, the Canada Revenue Agency (CRA) updated its guidance on bare trust reporting and refreshed its “Enhanced reporting rules for trusts Read more
The Canada Revenue Agency (CRA) will start inviting about one million Canadians to use a free pre-filled tax return in March 2027. To be considered, there are a few things you need to do by October 31, 2026, and that date is less than four weeks away. October 31 is Read more
As of October 1, 2026, Ontario’s general minimum wage has increased from $17.60 to $17.95 per hour. The new rate applies from October 1, 2026, through September 30, 2027, and is part of Ontario’s annual minimum wage adjustment tied to the Ontario Consumer Price Index (CPI). The 2026 adjustment is 1.9%. The Read more
On September 15, 2026, the Government of Canada proposed the Productivity Mega Deduction, a major expansion of immediate expensing for business investments. If you’re planning equipment purchases, software, or other capital investments, this proposed measure could affect the timing of your investment and when you receive the related tax deduction. Read more
Tax season may be behind us, but scammers aren’t taking the summer off. According to the Canada Revenue Agency (CRA), fraudsters operate year-round and continue to target Canadians by impersonating the CRA to steal money, personal information, and account credentials. Protecting your CRA account is especially important because it can Read more
August can feel like a quieter month for many businesses, summer vacations are in full swing and the administrative pace may slow down. But for the Canada Revenue Agency (CRA), August brings several important deadlines that, if missed, can lead to interest, penalties, or compliance issues that quietly add up. Read more
Big news for Ontario entrepreneurs: starting July 1, 2026, the provincial small business corporate tax rate is dropping from 3.2% to 2.2%. That’s a permanent cut that puts more money directly back into your business. Here’s what you need to know, and how to make the most of it. What Read more
Tax season ended for most Canadians on April 30. If you are self-employed, you still have time to file, but “having time to file” and “having no outstanding obligations” are two very different things, and that gap is exactly where most self-employed Ontarians get hurt. According to the CRA, self-employed Read more
For many Canadians, April 30 feels like the finish line. Once taxes are filed, receipts are tucked away, and refunds are received, it is easy to mentally move on until next year. But for individuals, self-employed professionals, and business owners across Ontario, tax season should not be viewed as the Read more
Tax season in Canada closes fast. The personal income tax filing deadline for most Canadians is April 30, 2026, and as of today, that is eight days away. If you have not filed your return yet, you are not alone. But the clock is running, and the cost of missing Read more
Every year, the Canada Revenue Agency (CRA) selects a portion of filed tax returns for closer review. While some audits are triggered by random selection, the majority are anything but random. The CRA actively concentrates its audit resources on specific areas it has identified as high-risk, and those priorities shift Read more
Filing income taxes in Canada can feel overwhelming, especially for individuals who are new to the tax system or who have limited financial knowledge. To simplify the process for eligible taxpayers, the Canada Revenue Agency (CRA) introduced SimpleFile, a free service designed for individuals with very basic tax situations. While this Read more
Most Canadians don’t realize that several federal tax credits adjust automatically based on inflation. No application required. No new form to fill out. Each year, the federal government applies an indexation factor to certain non-refundable credits and bracket thresholds, and for the 2026 tax year, that factor is 2.0%. If you’re Read more
Canada’s 2026 Tax Season: Three Important Updates Ontario Taxpayers Should Know Canada’s 2026 tax season officially begins on February 23, 2026. While this year brings relatively few structural tax changes for individuals, it introduces important federal adjustments and a significant expansion of digital services at the Canada Revenue Agency (CRA). Read more
If you’ve been waiting months for the Canada Revenue Agency (CRA) to process your tax return, correct an error, or issue a refund, you’re not alone. As we move through the 2026 tax season, thousands of Canadians, particularly in Ontario, continue to experience significant processing delays that are causing real financial Read more
Not everyone needs to make CRA instalment payments, it depends on your situation. If your net tax owing exceeds $3,000, you may be required to make quarterly payments to avoid interest charges. Let’s break down everything you need to know about tax instalments in Ontario so you can stay compliant Read more
Here’s What Business Owners and Employees Need to Know If you run payroll, pay yourself through a corporation, or receive a T4, there’s a change coming in January 2026 that will affect your paycheque, or your business cash flow. The Canada Pension Plan (CPP) maximum pensionable earnings are increasing, which Read more
