01/07/2026
January Tax Compliance & Planning Reminder for Businesses and Individuals
January is an important month for both tax compliance and proactive tax planning in Canada.
๐น T5 slips (Dividends & Investment Income)
There is no remittance required for T5 slips. However, accuracy is critical, and T5 slips must be filed by February 28.
๐น T4 slips & payroll
Ensure all payroll deductions have been remitted on time. T4 slips are also due by February 28.
๐น Time to review tax strategies for incorporated business owners
This is an ideal time to evaluate whether salary, dividends, or a combination of both is the most tax-efficient approach, considering:
Corporate and personal tax impact
CPP considerations
Cash flow and long-term planning objectives
๐น For individuals
Now is the right time to review:
RRSP contribution room and contribution strategy
Personal tax-saving opportunities before tax filing season
Proactive planning today can lead to meaningful tax savings and smoother compliance.
๐ฉ Get in touch:
๐ https://brcpa.ca/contact
๐ 647-894-4100
Connect With The Best CPA In Brampton. BR CPA Provides Tax, Accounting, Bookkeeping And Advisory Support Across The GTA.