I am happy to announce that with the help of e-Courier, we have now activated our new and improved client checklists, for existing and new clients: If you have Canadian tax filing obligations: https://e-courier.ca/aQ?is=pjbioIICnfEz If you have US tax filing obligations: https://e-courier.ca/aQ?is=kzkQIoICmVpj Through the use of these checklists it will be easier to get me…
News
CRA Interest rates for the second calendar quarter
The Canada Revenue Agency (CRA) announced today the prescribed annual interest rates that will apply to any amounts owed to the CRA and to any amounts owed by the CRA to individuals and corporations. These rates will be in effect from April 1, 2026 to June 30, 2026. Income tax The interest rate charged on overdue taxes, Canada…
Tax filing deadlines
These are some of the applicable deadlines: January 26, 2026 IRS e-filing opened for US returns February 23, 2026 CRA e-filing opens for Canadian returns March 2, 2026 – deadline for RRSP contributions for 2024. February 28, 2026 – T4 and T5 slips have to be issued March 16, 2026 – deadline for first Canadian…
British Columbia Budget 2026
British Columbia Finance Minister Brenda Bailey presented Budget 2026: Securing B.C.’s Future (“Budget 2026”) on February 17, 2026. Budget 2026 includes a major overhaul of BC’s income tax system. Highlights of these changes and related measures are outlined below. Income Tax Act Lowest Personal Income Tax Rate and Basic Personal Income Tax Credits Increased Effective…
Alberta Budget 2026
Alberta Budget 2026: Focused on What Matters (“Budget 2026”) was tabled February 26, 2026, by Minister of Finance Nate Horner. Tax measures in Budget 2026 include a new Alberta Caregiver Credit and a Vehicle Rental Tax. Details of these and other measures are outlined below. New Alberta Caregiver Credit Caregivers in Alberta are currently able…
IRS Individual Online Accounts: An easy tool for taxpayers
The IRS continues to take steps towards transforming the taxpayer experience in several ways. All taxpayers are encouraged to create an IRS Individual Online Account. While this is not a new tool, users are able to access their tax account information securely online and to help protect against identity theft and fraud. Anyone who can…
New and enhanced deductions for individuals on your American tax return
Issue Number: Tax Tip 2026-12 New and enhanced deductions for individuals There are several new tax deductions that have been introduced for the 2026 filing season. A deduction is an amount subtracted from the taxpayer’s income when filing. Deductions lower the taxable income resulting in lowering the federal income tax obligation. New deductions for 2026…
Getting ready for tax season? Here’s how to give your tax preparer access – faster and more securely
February 11, 2026 Ottawa, Ontario Canada Revenue Agency As tax season approaches, many Canadians work with a tax preparer to file their return. To do that, you may need to give them permission to access your tax information with the Canada Revenue Agency (CRA). The CRA has improved its authorization service for individuals. Here’s what…
Government Announces the 2026 Automobile Deduction Limits and Expense Benefit Rates for Businesses
January 14, 2026 – Ottawa, Ontario – Department of Finance Canada Today, the Department of Finance Canada announced the automobile income tax deduction limits and expense benefit rates that will apply in 2026. The following changes to limits and rates took effect as of January 1, 2026: The ceiling for capital cost allowances (CCA) for…
Government launches consultation on draft legislation for previously announced and technical tax measures
From: Department of Finance Canada News release January 29, 2026 – Ottawa, Ontario – Department of Finance Canada The Department of Finance today released for consultation draft legislative proposals to implement a range of previously announced tax measures. The proposed changes aim to clarify and improve tax rules, close gaps to prevent tax avoidance, and ensure…
Canada Groceries and Essentials Benefit
The GST credit will be replaced by the Canada Groceries and Essentials Benefit The government is introducing the new Canada Groceries and Essentials Benefit – formerly the Goods and Services Tax (GST) Credit. We are increasing its amount by 25% for five years beginning in July 2026. In addition to that, we are providing a one-time payment, equivalent…