Have you recently incorporated your business? Do you provide services to one other company? You might be considered to be operating a personal services business (PSB) by the CRA. This means your tax obligations are different than other corporations!
Check out the CRA’s fact sheet on PSBs! It’s intended to help you better understand your reporting and filing obligations, as well as your tax rate and what you can and cannot deduct as a PSB.
Starting May 12, 2025, the Canada Revenue Agency (CRA) will transition to online mail as the default method of delivering most business correspondence. This means you’ll start receiving most of your...
The child disability benefit (CDB) is a tax-free monthly payment made to families who care for a child under age 18 with a severe and prolonged impairment in physical or mental functions. To get the...
For payments based on your 2024 income tax and benefit return (July 2025 to June 2026), the program provides a maximum annual credit of $371 for each adult and each child in a family. If you are a...
The Ontario energy and property tax credit (OEPTC) is designed to help low- to moderate-income Ontario residents with the sales tax on energy and with property taxes. You apply for the current-year...
Before including the disability amount on an individual’s T1 income tax and benefit return, please ask your client if they have applied for the disability tax credit (DTC) before. Your client can give...
The Canada Revenue Agency (CRA) has become aware of a new phishing scam targeting the tax preparation community, where bad actors are prompting EFILERs to log into a fake EFILE Sign in page to...
The confidence and trust that individuals and businesses have in the CRA is a cornerstone of Canada’s tax system. The CRA regularly adjusts and improves its systems and processes to safeguard...
It’s never been easier to do your taxes online. In fact, online filing gets you access to the benefits, credits, and refunds you may be eligible for even faster! Last year, approximately 93% of...
Doing your taxes each year can feel like a big job, but you don’t have to do it alone! If you have a modest income and a simple tax situation, you might be able to get help from a volunteer at a free...