Most family-owned businesses in Canada are built quietly. A founder starts with skill and determination, reinvests year after year, and one day realizes that the business is worth far more than anything originally imagined. The problem is that the tax…
For months, Canadians have heard warnings about rising capital gains taxes. Headlines suggested dramatic increases. Advisors debated planning windows. Investors rushed to crystallize gains. Family businesses questioned succession timelines. So what actually changed in 2026? If you own investments, rental…
Income Tax Act s.150 | CRA Auto-Fill My Return CRA’s Auto-Fill My Return feature has improved dramatically. With a few clicks, your software can import: T4 slips T5 investment income RRSP contribution receipts T4A and pension income Some government benefits…
When Should You Take CPP? The Question Everyone Asks, and Almost Everyone Oversimplifies It usually starts with a casual question. “Should I take CPP at 60, 65, or 70?” A friend offers advice. A headline offers certainty. A calculator gives…
Bare trusts have become a major compliance focus for CRA. If you’ve ever held assets in trust — such as investment accounts, corporate shares, or real estate — on behalf of someone else, the term “bare trust” may apply. And…
Income Tax Act s.146 (RRSP), s.147.1 (Registered Pension Plans) If you are an incorporated professional or owner-manager, you have likely asked: Should I contribute to an RRSP — or establish an Individual Pension Plan (IPP)? Both are registered retirement vehicles…
As a taxpayer in Canada, your relationship with the Canada Revenue Agency (CRA) involves more than fulfilling your obligation to remit taxes. Many taxpayers are unaware that they are entitled to a robust set of rights designed to protect their…
Income Tax Act s.146.01 | CRA Guide RC4135 You withdrew from your RRSP under the Home Buyers’ Plan. You bought the home. Then life moved on. But each year, a question appears on your tax return: “Did you make your…
– Income Tax Act s.146.02 | CRA Guide RC4112 You want to go back to school. Or your spouse does. Instead of borrowing at high interest, you consider withdrawing from your RRSP under the Lifelong Learning Plan (LLP). It feels…
You built a successful business. You paid corporate tax. You did what responsible owners do—you kept some money in the company and invested it for the future. For years, that was considered prudent, even conservative planning. Today, that same decision—holding…