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CRA Notice of Assessment: The basics explained (2025)

man reviewing cra notice of assessment

Last updated: May. 12, 2025 
That envelope from the CRA just landed in your mailbox (or more likely, your digital inbox these days). Your notice of assessment has arrived — and whether you’re a small business owner or just filing personal taxes, this little document packs a punch. So what exactly is this notice of assessment, … Read more

2025 tax instalment payments: How instalments work in Canada

woman at desk with calculator

Last updated: Apr. 4, 2025 
Unfortunately, when it comes to instalment payments, the answer to this question is not so cut and dry. Installment payments are typically calculated using your previous years’ net taxing owing. If your net tax owing was more than $3,000 ($1,800 for Quebec) for 2024, and in either 2023 or 2022, then … Read more

Independent Contractor Taxes in Canada: The Basics Explained

What Canadian Self-Employed Contractors Need to Know

Last updated: Feb. 20, 2025 
Are you an employee or self-employed contractor? There’s a big difference, and understanding the differences between the two can have a significant impact on your income tax. If you’re working as a self-employed, independent contractor or thinking of becoming one, here are some things you should know. Who counts as an independent … Read more

Advantages of Incorporation for Canadian Small Businesses

Last updated: Feb. 18, 2025 
Unlocking Growth: The Advantages of Incorporation for Canadian Small Businesses  Small business owners want to minimize their tax burden and maximize their profits. While incorporating can help you pay less tax, is it right for you and your business?  This article will explore the benefits and implications of incorporation. As … Read more

Shareholder Loans: How Do They Work In Canada? (2025)

shareholder loan blog fbc

Last updated: Feb. 7, 2025  As Canadian interest rates continue to soar, the idea of taking out a loan from your corporation at no or low interest may be increasingly appealing. But, before you start using a shareholder loan account, it’s important that you understand the associated tax impact and implications. While shareholder loans may … Read more

Your Guide to 2025 Tax Dates, Rates and Numbers in Canada

essential tax dates Canada working at desk with planner

Last updated: Jan. 9, 2025  Tax season can feel overwhelming, but don’t worry. Filing your taxes accurately and on time is easier than you think.   We’ve compiled a handy list of key dates and tax numbers to help you get started.  Canada’s tax filing and payment deadlines for the 2024 tax year Description  Date  Registered … Read more

2025 Canadian Corporate Tax Rates and Deadlines

2023 corp tax rates canada

Last updated: Jan. 9, 2025  As we wind down another challenging year of dealing with historic inflation, the last thing you want to think about is taxes. However, with profit margins tighter than ever, this is exactly the right time to take steps to minimize your tax burden. For incorporated businesses, this starts with understanding … Read more

Your Guide to 2024 Tax Dates, Rates and Numbers in Canada

essential tax dates Canada working at desk with planner

Last updated: Apr. 29, 2024  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 … Read more