Articles

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

Canada Revenue Agency Update, Effective March 28, 2024 In an update released March 28, 2024 the Canada Revenue Agency (CRA) has announced that bare trusts will not be required to submit a T3 Income Tax and Information Return along with a Schedule 15 (Beneficial Ownership Information of a Trust) for the 2023 tax year, unless … Read more

Alberta Budget 2024 Highlights The 2024 Alberta Budget was delivered by Finance Minister Nate Horner, on February 29, 2024. The Budget is anticipated to result in surpluses of $5.2 billion for 2023 – 2024, then $367 million in the 2024 – 2025 fiscal year, and $1.4 billion in the following year. No corporate or personal … Read more

British Columbia Budget 2024 Highlights The 2024 British Columbia Budget was released by Finance Minister Katrine Conroy, on February 22, 2024. The Budget is anticipated to result in a deficit of $5.9 billion for 2023 – 2024, and a deficit of $7.9 billion for the 2024-2025 budget year. No corporate or personal tax rate changes … Read more

Tax season can be a daunting time for farmers and agricultural producers in Canada. Being well-prepared for tax time is important, as obligations to the Canada Revenue Agency (CRA) and tax laws can be complex. Here we provide you with a comprehensive, printable farm tax preparation checklist that lists all the documents you need to … Read more

As an independent contractor, you’re in control of when you work, who you work for, and how much you charge for your goods or services. But, when you’re your own boss, you’re also in charge of paying your own taxes. Although the Canada Revenue Agency (CRA) clearly defines what it means to be a self-employed … Read more

Whether you want to establish an emergency fund, set aside money for retirement, or compile cash for a down payment on a house, you might think your only option is to open a savings account at your local bank. Although a savings account is a fantastic way to save money, there are other ways to … Read more