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2026 Ontario Budget Announced

Thursday April 30, 2026

Last month, Ontario's Minister of Finance presented the 2026 Provincial Budget, continuing the province's Tax Action Plan with a focus on housing affordability, small business competitiveness, and capital investment incentives. Personal and Corporate Income Tax Changes The 2026 Budget introduces new corporate income [...]

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Bill C-15: What You Need to Know About Trust Reporting for 2025

Thursday March 26, 2026

The Canada Revenue Agency has updated trust reporting requirements for the 2025 taxation year to help affected taxpayers understand any changes and their filing obligations. On November 18, 2025, the Government of Canada tabled Bill C-15, which proposes amendments to the Income Tax [...]

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2025 Personal Income Tax Updates

Tuesday February 24, 2026

The 2025 personal income tax filing deadline is April 30, 2026. The filing deadline for self-employed individuals and their spouses (including HST returns) is June 15, 2026. All outstanding income tax and HST payments are due on or before April 30, 2026. A [...]

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Why Canadian Personal Income Tax Rates Are Too High and Why Reform Is Overdue

Friday January 30, 2026

For years, Canadians—particularly high‑earning professionals and business owners—have faced some of the highest personal income tax rates in the world. In Ontario, the top marginal rate has remained above 53.5%, and most other provinces also impose top brackets exceeding 50%. Ontario’s highest tax [...]

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Understanding the Ontario Made Manufacturing Investment Tax Credit

Wednesday August 27, 2025

On May 5th, 2025, Ontario’s Provincial Government announced the expansion of the Ontario Made Manufacturing Investment Tax Credit. What is the Ontario Made Manufacturing Tax Credit? The Ontario Made Manufacturing Investment Tax Credit (OMMITC) was introduced as a part of the 2023 Budget [...]

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Trump’s “One Big Beautiful Bill” Signed into Law on July 4, 2025.

Monday July 21, 2025

U.S. President Trump’s “One Big Beautiful Bill” (OBBB) was signed into law on July 4th, 2025, and contains extensive tax provisions which implement Trump’s taxation and spending priorities. The legislation introduces major changes that will impact individuals, families, and businesses. What are the changes [...]

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Carbon Rebate and Tax Changes for Small Businesses

Friday July 4, 2025

On March 15, 2025, the Government of Canada announced regulations to cease the application of the federal fuel charge. As a result, this eliminated the Canada Carbon rebate for small businesses. Canada’s Finance Minister, Francois-Philippe Champagne, announced on June 30, 2025, that if [...]

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Authorizing a Representative on your CRA My Account

Monday June 16, 2025

The Canada Revenue Agency (CRA) is continuing to implement new online security measures, and as of July 15, 2025, representatives will no longer be able to gain access to a client’s CRA My Account by signing and e-filing of the authorization form. Now, [...]

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Trump’s “One Big Beautiful Bill” and Its Impact on Canadians

Monday June 2, 2025

On Wednesday, May 21, 2025, U.S. President Donald Trump’s Republican Party passed the "One Big Beautiful Bill" Act with a vote of 215 to 214. The legislation contains extensive tax provisions to implement Trump’s taxation and spending priorities. Now in the Senate, the [...]

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