Beyond the Balance Sheet: Smart Strategies for Financial Success
We go beyond the numbers to provide clarity, strategy, and peace of mind. Whether you're a business owner, investor, or individual looking to optimize your finances, our expert insights help you navigate tax planning, financial reporting, and strategic growth with confidence. Let’s turn complexity into opportunity—one number at a time.
FHSA: Do You Need to Close It After Buying a Home?
The First Home Savings Account (FHSA) is a popular way for first-time home buyers to save for a home while receiving valuable tax deductions. But what happens if you buy a home and don't use the FHSA funds right away?
Employment Expenses: Good Records Matter
A recent Tax Court of Canada case highlights the importance of keeping proper records when…
Borrowing to Invest: Is Your Interest Tax Deductible?
Borrowing to invest can help grow your portfolio and, in some cases, create a tax deduction. However, many Canadians incorrectly assume that…
Principal Residence Exemption: What Every Homeowner Should Know
For many Canadians, their home is their largest investment. Fortunately, the Principal Residence Exemption (PRE) can allow homeowners to sell their principal residence without paying tax on some or all of the capital gain.
CRA Reviews and Audits: What Documents Should You Keep?
No one enjoys receiving a letter from the Canada Revenue Agency (CRA) asking for supporting documentation. Fortunately, most CRA reviews can be resolved quickly when taxpayers have retained the appropriate records.
Can You Deduct Interest on Money Borrowed to Invest in Canada?
Borrowing money to invest can be a useful tax-planning strategy, but interest is not automatically deductible. In Canada, the CRA generally considers how the borrowed money was used.
Interest may be deductible when borrowed funds are used to earn income from…
Ontario’s Enhanced New Housing Rebate: What Buyers Need to Know
Ontario’s temporary enhanced new housing rebate may allow eligible buyers to recover up to $80,000 of the provincial component of HST on…
Bare Trust Reporting Rules: What Clients Need to Know for 2026
Do you share a bank account with a parent, hold property for a family member, or have your name on title for convenience?
New CRA Procedure: Legal Representative Online Access for a Deceased Person
A legal representative is the person authorized to handle the tax affairs of someone who has passed away, usually the executor named in the will or a court‑appointed administrator.
Set Up Your CRA Account
Creating a CRA My Account makes it much easier to manage your personal tax and benefit information online. You can sign in using…
Tax Changes & Updates: What to Know for 2025-2026
Tax rules continue to evolve, and staying ahead of the changes can help you save money—and avoid surprises. Below is a simple breakdown of key updates that may affect your…
Are Clothing Purchases Deductible for Commissioned Employees? A Recent Court Case Says No
Many commissioned employees wonder whether they can deduct the cost of clothing they buy for work—especially when their job requires them to look polished and professional. A July 30, 2025 Tax Court of Canada decision offers a helpful reminder of how strict…
CRA Expands Online Mail Delivery: What Individuals Need to Know
The Canada Revenue Agency (CRA) has significantly expanded its use of online mail, affecting how individuals receive tax-related correspondence. These changes reflect CRA’s broader digital strategy and carry important…
Changing Support Agreements: When Spousal Support Becomes Child Support
When it comes to support payments following a separation or divorce, the distinction between spousal support and child support is…
TFSA Excess Contributions: When Decline in Value Traps Taxpayers
A Federal Court decision on July 25, 2025 upheld CRA’s denial of penalty tax relief for excess TFSA contributions—even when the taxpayer couldn’t…
CRA Transition to Online Mail for Business Accounts
The Canada Revenue Agency (CRA) has introduced a major change in how it communicates with business owners. As of Spring 2025, online mail is now the default method for delivering most correspondence related to…
Voluntary Disclosure Program (VDP): What’s New as of October 1, 2025?
The Voluntary Disclosures Program (VDP) from the Canada Revenue Agency (CRA) offers taxpayers a chance to correct past tax mistakes before CRA identifies them. If accepted, the disclosure can lead to…
Resigned But Still Responsible? The Hidden Liability of De Facto Directors
Think you're off the hook after resigning as a corporate director? Think again…