News

2025 Alberta Budget Summary

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On February 27, 2025, Alberta Minister of Finance Nate Horner announced the 2025 Alberta Budget. The Budget aims to strengthen health care, education and communities, support vulnerable Albertans, and diversify the economy. No changes were made to the existing provincial corporate tax rates. Crowe MacKay’s tax experts summarize the Alberta Budget’s new tax measures below.…

Income taxes down, property taxes up — especially in Calgary: How Alberta Budget 2025 affects you

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Income tax cut The biggest way the new budget is likely to affect you is through a reduction in the personal income-tax rate. Alberta plans to cut the rate on the first $60,000 of income from 10 per cent to eight. This was a promise the United Conservative Party initially made during the 2023 election campaign. The…

Tax season starts today! File your 2024 income tax and benefit return to get the benefits and credits you may be eligible for

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News release February 24, 2025                            Ottawa, Ontario                            Canada Revenue Agency Today, you can start filing your 2024 income tax return online. For most individuals, the deadline to file is April 30,…

Registered charities making grants to non-qualified donees

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There was an important change made in 2023 in how a charity may contribute funds to ‘non-qualified grantees’. This is an issue many charities run into when funding international work https://www.canada.ca/en/revenue-agency/services/charities-giving/charities/policies-guidance/charities-making-grants-non-qualified-donees.html 1. Many organizations in Canada and internationally contribute to charitable activities, but do not have registered charity status with the Canada Revenue Agency (CRA). We…

CRA Business mail is going online

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Get ready for online mail for business Starting in spring 2025, the Canada Revenue Agency (CRA) will transition to online mail as the default method of delivering most business correspondence, reflecting the CRA’s ongoing commitment to enhancing service delivery. This means your business clients will stop receiving paper mail and will start receiving most of…

EFILE news and program updates

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T1 EFILE The Canada Revenue Agency’s EFILE, ReFILE and T1135 web services are now closed for the electronic filing of your clients’ initial and amended (T1) personal income tax and benefit returns and T1135 forms for T1. These services will re-open on Monday, February 24, 2025 at 8:30 a.m. (Eastern Time).  The Canada Revenue Agency’s T3 EFILE and T1135…

2025 tax filing season starts as IRS begins accepting tax returns today; taxpayers have many options for help

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IR-2025-18, Jan. 27, 2025 WASHINGTON — The Internal Revenue Service opened the 2025 tax filing season today and is accepting and processing federal individual tax year 2024 returns. During today’s early morning opening, IRS systems have already received millions of tax returns from across the nation for processing. The IRS expects more than 140 million…

Update on the Canada Revenue Agency's administration of the proposed capital gains taxation changes

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January 31, 2025 Ottawa, Ontario Canada Revenue Agency The Department of Finance announced today that it will introduce legislation in Parliament in due course, related to the capital gains inclusion rate change with a new effective date of January 1, 2026. The announcement confirms the government’s intention that, effective for dispositions that occur on or after January 1, 2026, the inclusion rate will…

Don’t miss out on tax benefits for northern residents

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February 12, 2025 Ottawa, Ontario Canada Revenue Agency If you lived in a northern or remote area for six months or more in 2024, you may qualify for the northern residents deductions. These deductions recognize the unique challenges northern residents face, such as higher living costs and limited access to services. Find out if you…