Affordable Tax Services Ltd

04/02/2026

First-time home buyers’ (FTHB) GST/HST rebate
Status: Applications are open

Processing times
The CRA is updating filing systems to process applications where the purchase agreement was signed between March 20, 2025, and May 26, 2025. The CRA will begin processing these applications once the filing system updates are completed.

01/17/2026

Don’t just crunch numbers—I uncover the money others overlook. With a proven record of 250+ happy clients, I’ve shown time and again that I can find opportunities where the system, and even other professionals, hit a wall. Whether you’re filing for the first time, running a business, or living abroad as a Canadian, I’m here to be your advocate.

01/17/2026

First Home Savings Account (FHSA)

Your Future Flexibility! Everyone should consider opening a First Home Savings Account – no contribution is required to create the contribution room.

If you've already contributed to an RRSP, you can transfer those funds to the FHSA, providing tax advantages and tax-free withdrawals for your first home.

If you require more information please contact us.

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12/05/2025

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12/05/2025

Canada Carbon Rebate for Small Businesses

Update on the taxability of the Canada Carbon Rebate for Small Businesses.

Businesses can choose not to include the rebate in taxable income when filing their T2 Corporation Income Tax Return for the year in which it was received.

Specifically, payments received by corporations in respect of the 2019-20 to 2023-24 fuel charge years would not be included in income for tax purposes, and the final payment to be made under the Canada Carbon Rebate for Small Businesses (i.e., in respect of the 2024-25 fuel charge year) will also be tax-free.

The government will introduce legislation in Parliament to implement these changes in the fall.

Once the legislation receives Royal Assent, the Canada Revenue Agency (CRA) will have the authority to process amended T2 corporation income tax returns for those who have already included the rebate in their taxable income, ensuring the rebate is processed as tax-free (i.e., not included in the taxable income reported in the T2). Further guidance will be provided by the CRA at that time.

The Government of Canada website is a single point of access to all programs, services, departments, ministries and organizations of the Government of Canada.