The $50,000 Passive Income Trap for CCPCs Explained
Business is good. You’re paying yourself what you need, the corporation is profitable, and rather than pull all the surplus out and get taxed personally, you’ve left it inside the company and invested it. Smart move. But there’s a line most incorporated business owners don’t know exists, and once your corporation’s investments cross it, you […]
CRA Audits: What Triggers Them and How to Prepare
Getting a letter from the CRA saying your return is under review is enough to ruin anyone’s week. But an audit isn’t an accusation. Most of the time it’s the CRA checking that what you reported lines up with what they already know, and if your records are in order, it’s a process, not a […]
Home Office Deductions in 2026: What You Can Still Claim
If you got used to claiming a home office during the pandemic, the rules have moved on, and a lot of people are still working off what they knew in 2021. The quick, no-paperwork option most employees used is gone. What’s left is more work to claim, but for the right person it’s often worth […]
Income Splitting in Canada for 2026
Income splitting is not dead. It just does not look the way most people think it does. If your plan is to pay dividends to your spouse or adult children who do not work in the business, you will end up paying more tax, not less. But there are still real, legal strategies that shift […]
How Much Does an Accountant Cost in Ontario?
Most accounting firms will not tell you what they charge until you have booked a consultation. We do not think it should work that way. Here is what accountants actually cost in Ontario in 2026, based on publicly available pricing across the industry. What You Can Expect to Pay Basic personal tax return (T1): $250 […]
Highlights of Ontario’s 2026 Budget
The Ontario government released its 2026 budget on March 26, 2026, titled “A Plan to Protect Ontario”. The budget was delivered by Finance Minister Peter Bethlenfalvy amid ongoing U.S. tariff uncertainty and global economic pressures. Ontario projects a deficit of $12.3 billion in 2025-26, $13.8 billion in 2026-27, and $6.1 billion in 2027-28, with a […]
Personal Tax Instalments in Canada: When and Why You Have to Pay
Most Canadians are used to the routine: file your tax return and pay any balance owing by April 30. But if you earn income that does not have enough tax withheld at source, from rental properties, investments, self-employment, or pension payments, the CRA may require you to prepay your taxes in quarterly instalments throughout the […]
What Is a Capital Gain? And Why Does It Matter for Your Taxes in Canada?
If you have sold an investment, a property, or any other asset for more than you paid for it, you have likely realized a capital gain, and you may owe tax on it. Capital gains are one of the most common tax events Canadians encounter outside of employment income, yet many people are unsure exactly […]
Should Your Business Invest in Stocks?
A Tax-Smart Guide for Incorporated Business Owners in Ontario Business is doing well and the profits are rolling in. You’re piling up excess cash you don’t need to reinvest into the business. You could pay it out as salary or dividends, but is that the best move? Before withdrawing the money, consider whether your corporation […]