LCA CPA LLP

09/25/2026

Productivity Mega Deduction - A New Incentive for Business Investment in Canada -

On September 15, 2026, the Government of Canada announced the proposed Productivity Mega Deduction, a new tax measure designed to encourage business investment, improve productivity, and strengthen Canada’s competitiveness. If enacted, the measure would permanently allow businesses to immediately ...

01/26/2026

Staying on Top of CRA’s Move to Electronic Communication -

Over the past few years, the Canada Revenue Agency (CRA) has shifted most of its correspondence with taxpayers to electronic “Online Mail” through the My Account and My Business Account portals. While this move modernizes communication, many taxpayers are still unaware of how significantly it ch...

11/18/2025

2025 Federal Budget Commentary -

We are pleased to share a summary on the 2025 federal budget.  This summary does not originate from our office but rather from CPA Quebec. We hope you find it useful.

06/02/2025

Reminder for business owners: CRA mail is defaulting to online only -

02/17/2025

Update on the Capital Gains Inclusion Rate -

The Canadian government has announced yet another chapter of significant changes to the capital gains inclusion rate, impacting taxpayers across the country.

01/30/2025

CRA Online Mail: What Canadian Taxpayers and Businesses Need to Know -

The Canada Revenue Agency (CRA) is increasingly shifting its communication practices toward online mail, making it the default method for delivering correspondence to taxpayers and businesses. This transition impacts how individuals and organizations manage their tax-related communications and will...

11/25/2024

emporary GST Relief for the Holiday Season -

On November 21, 2024, the government of Canada announced its intention to introduce legislation in Parliament that would provide for a two-month Goods and Services Tax/Harmonized Sales Tax (GST/HST) break for groceries, restaurant meals and holiday essentials.

11/13/2024

Canadian Entrepreneurs’ Incentive (“CEI”) -

Concurrent with increasing the capital gains inclusion rate from 50% to two‑thirds, the government has increased the lifetime capital gains exemption to $1.25 million and introduced a new incentive ⁠–⁠ the Canadian Entrepreneurs’ Incentive (CEI) ⁠–⁠ available to business owners...

04/22/2024

2024 Federal budget update -

On April 18, 2024, the Ministère des Finances du Québec announced its intention to amend Québec’s tax legislation and regulations to incorporate, with adaptations on the basis of their general principles, certain tax measures.

02/15/2024

https://mailchi.mp/65d429257451/february-2024-updates

We have previously written about the new trust reporting rules which impose additional filing requirements for most trusts, many of which were previously exempt from filing a T3 Trust and Income Tax Return with CRA. We want to remind you of the new rules that are in effect for taxation years endin...