Taxes When Selling a Rental Property in Canada
Selling a rental property is not as straightforward as selling your personal home. Unlike a principal residence, which is generally exempt from tax, a rental property comes with multiple tax layers that can catch investors off guard, particularly if you have claimed Capital Cost Allowance (CCA) in prior years. At Cassar CPA, we work with […]
How Long Should You Keep Tax Records in Canada?
Every tax season, the same question comes up: how long do I actually need to keep all of this? The shoebox of receipts from three years ago, the T4 slips from your first year in business, the invoice for that piece of equipment you bought and later sold, at what point can you safely let […]
GST/HST Filing for Small Businesses: Common Mistakes to Avoid for Ontario Business Owners
For most small businesses in Ontario, GST/HST is the tax you interact with most frequently. You collect it on every invoice, pay it on most purchases, and remit the difference to the CRA on a regular schedule. It sounds straightforward, and conceptually, it is. But in fifteen years of working with small business owners across […]
T3 Trust Returns: What Ontario Business Owners Need to Know for 2026
Filing Requirements, Deadlines, Bare Trust Changes, and Penalties If you own a business through a corporation, hold property in a family trust, or act as an executor for an estate, the T3 Trust Income Tax and Information Return may be relevant to your tax obligations. Over the past three years, the CRA has significantly expanded […]
Should Incorporated Professionals Pay Salary or Dividends? The 2026 Analysis for Ontario-Based Business Owners
If you operate through a Canadian-controlled private corporation (CCPC), one of the most consequential decisions you face each year is how to get money out of your corporation and into your hands. The two primary options are salary and dividends, and the right answer depends on far more than the tax rate alone. At Cassar […]
2026 Canadian Tax Deadlines
Your Complete Guide to Personal, Corporate and Filing Deadlines for the 2025 Tax Year Tax season has arrived. Whether you run a professional practice, manage a growing business, or simply want to stay on top of your personal filing obligations, knowing when things are due can save you real money. The Canada Revenue Agency (CRA) […]
Common Tax Filing Mistakes We See Every Year, and How to Avoid CRA Headaches
Tax season can be stressful even for experienced professionals and business owners. Beyond meeting deadlines, the quality of your tax return, meaning accuracy, completeness, and documentation, determines whether you’ll get an easy assessment or weeks of back-and-forth with the Canada Revenue Agency (CRA). The most costly mistakes aren’t always the big ones. They’re often small, […]
What Documents Your CPA Actually Needs for Tax Season (and Why Missing One Slows Everything Down)
Preparing for tax season isn’t just about meeting deadlines, it’s about giving your CPA everything they need to file accurately, maximize deductions, and avoid time-consuming follow-ups. Whether you’re an incorporated professional or a business owner with personal and corporate returns, a missing document can delay your entire filing process and increase your risk of errors. […]
Personal vs. Corporate Taxes in Canada: What Incorporated Professionals Need to Know
Incorporation is one of the most powerful tax planning tools available to Canadian professionals, but it also introduces complexity that isn’t always well understood. Physicians, dentists, lawyers, consultants, engineers, and other regulated professionals often hear that incorporation will “save tax,” without being shown how personal and corporate taxes actually interact over time. At Cassar CPA, […]