Articles

The Canada Revenue Agency (CRA) has announced the 2025 Tax Free Savings Account (TFSA) contribution limit is $7,000.  Want to learn more about this investment option? Read on to learn the ins and outs of TFSAs – from finding your limit to accurately tracking your contributions. What is a TFSA? Since 2009 TFSAs have helped … Read more

As a self-employed tradesperson, juggling jobs, quotes, and invoices keeps you busy enough – never mind thinking about taxes before they’re due. 

Like farming, tax planning is a year-round activity, and the end of the calendar year is the perfect time to implement strategies to maximize tax savings.  

The shift to remote work has become the new normal. One of the biggest questions is: what are my responsibilities when it comes to home office expenses?

Whether you sold off assets or hedged your bets before the new capital gains rules kicked in on June 25, understanding these changes is crucial.

Every small business owner in Canada must file an annual tax return. However, not everyone fulfills this obligation, which can lead to serious consequences. The Canadian tax system, governed by the Income Tax Act, imposes strict penalties on those who fail to comply with tax filing requirements. This includes not filing a tax return, making … Read more

Filing a return that is accurate and on time is the best way to avoid tax penalties and over-payment. With that in mind, below is a list of key dates and tax numbers to help you with your tax return. Canada’s tax filing and payment deadlines *If you are paying tax by instalments, please read … Read more

Federal Budget 2024 Highlights On April 16, 2024, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, tabled the federal government’s budget ⁠titled⁠ “Fairness for Every Generation.” The Budget is anticipated to result in a deficit of $39.8 billion 2024 – 2025 budget year, and $38.9 billion for 2025 – 2026. Here we highlight key tax measures … Read more

Ontario Budget 2024 Highlights On March 26, 2024, the Ontario Provincial Budget was released by Finance Minister Peter Behlenfalvy. The Budget is anticipated to result in deficit of $3 billion for 2023 – 2024, $9.8 billion for the 2024-2025 budget year, and $4.6 billion for the 2025-2026 year. No corporate or personal tax rate changes … Read more

Saskatchewan Budget 2024 Highlights The 2024 Saskatchewan Budget was delivered by Finance Minister Donna Harpauer, on March 20, 2024. The Budget is anticipated to result in a deficit of $273.2 million for the 2024 – 2025 fiscal year. Here we’ll provide a summary of key highlights of Saskatchewan’s 2024 Provincial Budget. Corporate Tax Corporate tax … Read more