Sherri Anderson Bookkeeping & Tax Services

04/07/2026

GST/HST on Substantial Renovations to a Home - Are You A Builder?

https://www.taxtips.ca/gst/gst-hst-taxable-and-exempt-goods-and-services.htm -hst-on-substantial-renovations-to-a-home

If you purchased a home with the intent to substantially renovate it and resell it at a profit, you may be deemed to be a builder, and be liable to pay GST/HST on the FMV of the home. This can happen even if this is done over a period of years and you have lived in it during this time.

You will also, when the home is resold, be liable for income tax on the gain, which will be business income, not a capital gain, and not eligible for the principal residence exemption.

03/10/2026

It's so important to know the deadlines for filing.
If you file late and owe money, CRA will add late filing penalties and interest to your tax bill.

📅 Tax season is here! Know these key dates for doing your taxes:

April 30th, 2026 👉 Deadline to do your taxes

June 15th, 2026 👉 Deadline to do your taxes if you or your spouse/common-law partner are self-employed

Filing your taxes on time means you’ll keep getting any benefit and credit payments you’re eligible for! For other key dates: https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/important-dates-individuals.html

[Image description: A person writing on a wall calendar. "Important tax season dates."]

03/10/2026

March 2026 Newsletter - many topics again!
https://mailchi.mp/taxtips/taxtips-mar-2026-newsletter


2025 Tax Return Due Date
● Thursday, April 30, 2026: Deadline for most individuals.
● Monday, June 15, 2026: Deadline for self-employed individuals (but any amounts owing must still be paid by April 30 to avoid interest).

More Important Tax Topics:
● Canadian Tax & Financial Calculators – Help to verify your tax return!
● Life in the Tax Lane March 2026 including Groceries Benefit.
● Tips for Filing Your 2025 Tax Return!
● Tax Return Checklist - Start Early!
● Will Your Old Age Security (OAS) Be Clawed Back?
● 2205 LCGE Problems Not Yet Corrected by CRA
● CWB - Refundable Tax Credit For Workers
● Alberta Budget 2026: Key Tax and Benefit Changes
● BC 2026 Budget Highlights
● Nova Scotia & NWT Budgets
●Upcoming 2026-2027 Budgets

02/15/2026

CRA is pushing everyone to have an online "My Account". If you don't have one yet I would highly reccomend that you get one soon.

Do you have a CRA account? Add a backup multi-factor authentication (MFA) option if you don’t already have one.

This added security helps if your existing MFA option is not available or if it is lost or forgotten.

When you sign in, you’ll be prompted to choose a backup option, such as a:

✔️ Third-party authenticator app
✔️ Passcode grid

Sign in to add yours: https://ow.ly/XJv150YcgkZ

[Image description: A person smiles while working on a computer.]

02/06/2026

Great news if you can't access your CRA account - they have made it so much easier to get back in, And no it doesn't involve sitting on hold for hours!

Good news! If you forgot your CRA user ID or password, you may be able to register for a new credential online, no need to call us.

Get your most recent tax return and multi-factor authentication (MFA) information ready. To help keep your account secure, your old credential will be removed. https://ow.ly/eMAq50Y6wGk

If you've lost access to your MFA information or if your account is locked, our phone support remains available to assist you.

[Image description: A person using a laptop at a table in an indoor space. "Regain access to your CRA account"]

02/06/2026

We're getting so close to tax season 2026!
Program installed, slips are starting to come out and CRA will start processing 2025 tax returns in a few weeks.

08/28/2025

Short term rental rule change:

Changes for short-term rentals
New legislative changes require short-term rentals to be compliant with the short-term rental laws in the municipality/province in which they are located in order to claim deductions. Short-term rental hosts were required to comply with these applicable provincial and municipal registration, permit, license, and operating requirements by December 31, 2024.

Note: All short-term rentals are subject to the new rules regardless of whether they are provided by a business or an individual.

Send a message to learn more

08/28/2025

Bare trusts - to file or not to file?

Trust reporting for the 2024 tax year – Bare trusts not required to file the T3 Return and Schedule 15
The Canada Revenue Agency (CRA) will not require bare trusts to file a T3 Income Tax and Information Return (T3 return), including Schedule 15 (Beneficial Ownership Information of a Trust) for the 2024 tax year, unless the CRA makes a direct request for these filings. This is a continuation of the exemption from the trust reporting requirements that was issued for bare trusts for the 2023 tax year.

The new trust reporting requirements still apply to other affected trusts with taxation years ending after December 30, 2023. These affected trusts are required to file a T3 return, including Schedule 15, unless specific conditions are met.

Send a message to learn more

08/28/2025

Major CRA change for businesses that you might not be aware of yet.

CRA is transitioning to online mail for most business correspondence
Beginning in spring 2025, the Canada Revenue Agency (CRA) will make online mail the default for most business correspondence, delivering notices and updates through My Business Account instead of by paper mail.

This change will apply to:
New business number and program account registrations
Existing businesses registered for My Business Account
Businesses with authorized representatives using Represent a Client
To prepare for this change, sign into My Business Account and make sure your email address is up to date. This will allow the CRA to send you email notifications when new mail is available or when important updates are made to your account.

Send a message to learn more