Pier CPA Group Inc.

09/30/2026

📢 Bare Trust Reporting Returns 📢

What You Need to Know

Starting with the 2026 tax year, certain arrangements that qualify as a bare trust may need to be reported to the CRA, with the first filing due by the end of March 2027.

While that may seem far away, determining whether you have a reportable bare trust can take time.

What is a bare trust?

A bare trust can arise when legal ownership and beneficial ownership are different.

* Legal owner: Whose name is on the title, bank account, investment account, etc.

* Beneficial owner: The person who actually owns, controls, or benefits from the asset.

Common examples include:

• A parent added to an adult child’s home title to help with a mortgage.
• An adult child added to a parent’s bank account to help manage finances.
• An investment account held “in trust” for a minor child.
• A cottage registered in one sibling’s name but beneficially owned by several siblings.

These arrangements often arise for practical family reasons and may exist without any formal trust document.

The CRA looks at the substance of the arrangement, not simply the paperwork.

Think you may have a bare trust?
📞 Contact our office now📞
We can review your situation and determine whether you have a reporting obligation before the 2027 deadline.

This post is for general informational purposes only and does not constitute tax or legal advice. Tax rules are subject to change and individual circumstances vary.

09/18/2026

B.C. pauses PST expansion to professional services amid ongoing trade uncertainty

Businesses throughout British Columbia will be better able to manage costs as the Province pauses the planned expansion of the Provincial Sales Tax (PST) to professional services.

In response to new and ongoing international trade disruptions and the economic uncertainty they are creating, government intends to delay the PST expansion to professional services that had been scheduled to take effect on Oct. 1, 2026.

09/17/2026

Reminder: PST changes are just two weeks away!

Starting October 1, 2026, invoices for our taxable services will include 7% PST in addition to the existing 5% GST.

This change is part of the B.C. government’s expansion of PST to accounting services. We wanted to share a friendly reminder so you can plan for the additional tax on your upcoming invoices.

Thank you for your continued support and understanding!

***** If you are also required to start charging PST under the new rules and require assistance please let us know ASAP

09/04/2026

Closed SATURDAY, SUNDAY, MONDAY for the long weekend.
Our office will reopen on Tuesday at 8:30am

09/01/2026

📢 Client Update – PST on Accounting Services 📢

Beginning October 1, 2026, Provincial Sales Tax (PST) will apply to accounting services. As required under the new legislation, PST will be added to invoices for services provided on or after this date.

We wanted to share this change in advance to help with planning and budgeting.
If you have any questions, please feel free to contact our office.

How PST applies to accounting services.

07/15/2026

📢 Client Update – PST on Accounting Services 📢

Beginning October 1, 2026, Provincial Sales Tax (PST) will apply to accounting services. As required under the new legislation, PST will be added to invoices for services provided on or after this date.

We wanted to share this change in advance to help with planning and budgeting.

If you have any questions, please feel free to contact our office.

06/30/2026

Summer is rapidly approaching, so this is a friendly reminder that our office hours will be changing starting July 2.

Please be sure to check our updated summer schedule when planning your visit or contacting our office.

Thank you, and we hope everyone has a great summer!

06/29/2026

Changes are coming to the Disability Tax Credit (DTC) application process.

The CRA is encouraging applicants to use the online portal when applying, the only other option will be snail-mail.

When you apply for the disability tax credit (DTC) online you must use the digital form. We no longer accept applications through the “Submit documents” portal.

✅The “Submit documents” option is only available to you if you’ve received a letter from us about your application asking for more info.

https://www.canada.ca/en/revenue-agency/news/newsroom/tax-tips/tax-tips-2026/help-speed-up-your-disability-tax-credit-application.html?utm_content=2026-06-27_2383

[Image description: A person smiles while looking at their phone. They’re sitting outside with a skateboard. The text reads: “Applying for the DTC?”]

04/16/2026

2025 TAX DOCUMENT DROP-OFF DEADLINE
~~~
To ensure your 2025 tax return is completed and filed on time, please submit all documents by:
April 20th (End of Day)

Documents received after this date will be accepted; however, we will complete your return on a best-efforts basis, and timely filing cannot be guaranteed.

Thank you for your understanding.