L & R Accounting

04/26/2026

03/27/2026

Good morning! We are officially about one month away from the April 30th personal income tax deadline.

While it might seem like there's plenty of time, the best way to ensure you get your maximum refund (and avoid those last-minute rushes) is to start organizing your documents now.

A quick checklist for you:

Income Slips: T4s, T5s, and any other income records.

Deductions: Receipts for medical expenses, charitable donations, and moving expenses.

Self-Employed? Make sure your business expenses and home office details are ready for review.

Remember, even if you are self-employed and have until June 15th to file, any taxes owed are still due by April 30th to avoid interest.

Don't let the deadline sneak up on you. Our team is here to handle the heavy lifting with the accuracy you deserve.

L&R Accounting Team

Your numbers. Handled with precision at L&R Accounting.

B-1 Main Street, Penetanguishene, Ontario, L9M 1A1
Ph: (705) 549-1545

03/18/2026

Turning Child Care into Tax Savings!

If you’re a working parent, you know that child care is a significant investment. But did you know those expenses can also be one of your most valuable tax deductions?

Whether it’s daycare, summer camps, or after-school care, these costs can help lower your taxable income, putting more money back into your family’s budget.

What you need to keep in mind:

Keep Every Receipt: From licensed centers to individual caregivers, ensure you have clear records.

Who Claims It? Generally, the parent with the lower net income must claim the expenses, but there are specific exceptions we can help you navigate.

Eligibility: Expenses are typically deductible for children under 16, or children with a physical or mental impairment.

Tax season doesn't have to be a juggle. We’re here to ensure every receipt is accounted for and every deduction is maximized.

L&R Accounting

Your numbers. Handled with precision at L&R Accounting.

03/18/2026

The Canada Carbon Rebate:

Are you receiving your payment? The Canada Carbon Rebate is a tax-free amount paid to help eligible individuals and families offset the cost of federal carbon pollution pricing. Essentially, if you live in a province where the federal carbon tax applies, you may get this money back!

Here’s what you need to know:

Who is eligible? You must be 19 years of age or older (or have a spouse/common-law partner, or be a parent) and be a resident of Canada for tax purposes.

How do you get it? For most people, you don’t need to apply. You simply need to file your income tax and benefit return, and the CRA will automatically determine your eligibility and issue the payment.

How much will you receive? The amount depends on your province of residence and your family situation (single, with a spouse, or with children).

Knowing these details is part of smart tax planning and ensuring you're receiving what you're entitled to.

Questions about your eligibility or where to find your payment details? Our team is here to help!

L&R Accounting

Your numbers. Handled with precision at L&R Accounting.

1-B Main Street, Penetanguishene, Ontario, L9M 1A1
📞 (705) 549-1545
🌐www.landraccounting.com
Email: [email protected]

03/16/2026

What is the Canada Carbon Rebate?

The Canada Carbon Rebate (formerly known as the Climate Action Incentive payment) is a tax-free amount paid to help individuals and families offset the cost of federal carbon pollution pricing. Essentially, if you live in a province where the federal carbon tax applies, you could be eligible to receive this payment!

Here’s what you need to know:

Who is eligible? You must be 19 years of age or older (or have/previously had a spouse/common-law partner, or be/previously were a parent) and a resident of Canada for tax purposes.

How do you get it? For most people, you don't need to apply. You simply need to file your income tax and benefit return, and the CRA will automatically determine your eligibility and issue the payment. (Note: Residents of certain provinces might need to claim the rural supplement if they qualify).

How much will you receive? The amount depends on your province of residence and your family situation (single, with a spouse, or with children).

Understanding these rebates is part of practical tax planning. It’s not just about compliance; it's about optimizing your returns and making sure you’re receiving what you’re entitled to!

Have questions about how the Canada Carbon Rebate affects your specific situation or where to find your payment details? Our team is here to help you get clear on all things tax-related!

L&R Accounting

Your numbers. Handled with precision at L&R Accounting.