Scott D. Campbell Inc.

05/21/2026

It’s that time of year… so beware.

03/25/2026

A recent Globe and Mail article highlighted 4 areas that are likely to get you audits by CRA. 1. Short-term rentals – CRA now denies expense deductions (maintenance, utilities, etc.) if the property isn’t licensed or otherwise compliant with local rules. The 2024 tax year was treated as a transition; for 2025 onward the agency is expected to enforce the rule aggressively.
2. GST/HST on new or substantially renovated homes – Builders and “quick flippers” who claim principal residence status risk audits because a $1‑million sale carries ~$130k of HST. CRA is reviewing cases where GST/HST wasn’t remitted despite the property clearly being built for sale.
3. Cryptocurrency activity – Every sale, swap, donation, or purchase using crypto must be reported. CRA is compelling exchanges to hand over transaction data, so unreported capital gains or business income in digital assets are easy audit bait.
4. Gig-platform income – Earnings from Uber, Airbnb, Etsy, Fiverr, and similar platforms must be declared. Platforms now transmit workers’ income figures directly to CRA, so discrepancies between the platform report and a taxpayer’s return will trigger follow-up.

03/18/2026

CRA has issued an updated guide to medical expense tax credit claims for 2025.

Canadian individual taxpayers who incur eligible medical expenses on an out-of-pocket basis may be able to claim a 14.5% non-refundable federal tax credit with respect to such expenses.

That tax credit claim is made on the individual income tax return to be filed for 2025. The Canada Revenue Agency (CRA) has issued an updated guide to the types of medical expenses which can be claimed, how eligibility for such claims is determined, and how to make a medical expense tax credit claim on the 2025 tax return.

That updated guide is available on the CRA website at https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/rc4065.html.

03/12/2026

Canadian tax professionals are warning that the easiest way to lose money this tax season is through the expenses you never claim. They’re urging people to revisit last year’s federal budget changes and build a year-round habit of stashing every deductible receipt so nothing disappears before filing time.

03/11/2026

Canadian tax professionals are warning that the easiest money to lose money on this year's tax return is through the expenses you never claim. They’re urging people to revisit last year’s federal budget changes and to build a year-round habit of stashing every deductible receipt so nothing disappears before filing time.

If you aren’t careful, it’s easy to leave money on the table when filing your taxes.

03/04/2026

A recent Tax Court decision confirms that the CRA’s penalties for late T1135 filings will stick, even when taxpayers plead for relief. Form T1135 must be filed whenever the cost of specified foreign property tops $100,000 at any point in the year. Miss the deadline and you’re looking at $25 per day (up to $2,500) in standard penalties, with far steeper fines if CRA views the delay as gross negligence.

03/04/2026

This Financial Post article highlights a Tax Court decision confirming that the CRA’s penalties for late T1135 filings will stick, even when taxpayers plead for relief. Form T1135 must be filed whenever the cost of specified foreign property tops $100,000 at any point in the year. Miss the deadline and you’re looking at $25 per day (up to $2,500) in standard penalties, with far steeper fines if CRA views the delay as gross negligence.

Jamie Golombek: Penalties are $25 a day for every day you’re late filing your T1135 for foreign holdings. Find out more

03/04/2026

This Financial Post article highlights a recent Tax Court decision confirming that the CRA’s penalties for late T1135 filings will stick, even when taxpayers plead for relief. Form T1135 must be filed whenever the cost of specified foreign property tops $100,000 at any point in the year. Miss the deadline and you’re looking at $25 per day (up to $2,500) in standard penalties, with far steeper fines if CRA views the delay as gross negligence.

Jamie Golombek: Penalties are $25 a day for every day you’re late filing your T1135 for foreign holdings. Find out more

03/04/2026

The Financial Post highlights a recent Tax Court decision confirming that the CRA’s penalties for late T1135 filings will stick, even when taxpayers plead for relief. Form T1135 must be filed whenever the cost of specified foreign property tops $100,000 at any point in the year. Miss the deadline and you’re looking at $25 per day (up to $2,500) in standard penalties, with far steeper fines if CRA views the delay as gross negligence.

Jamie Golombek: Penalties are $25 a day for every day you’re late filing your T1135 for foreign holdings. Find out more

02/25/2025

https://apple.news/AFTA0IXoXTsyhsEYvM_8eUQ

Starting Monday, Canadians can file their income tax and benefit returns online. There a few key changes that could affect people's pocketbooks.