R&Co Chartered Professional Accountant Prof Corp

07/14/2026

🚨 Business Owners: Have You Reported Your Carbon Rebate Correctly?

Many business owners may not be aware that recent legislative changes have confirmed that the Canada Carbon Rebate for Small Businesses is not taxable income.
The rebate is intended to return a portion of federal fuel charge proceeds to eligible businesses operating in provinces where the federal fuel charge applied.

If your business previously:
✅ Included the rebate in taxable income
✅ Recorded the rebate incorrectly in its accounting records
✅ Filed tax returns before the legislative change was enacted it may be worthwhile to review whether adjustments are appropriate.

Why does this matter?
The tax treatment of government assistance programs can affect taxable income, financial statements, and prior-year filings.

📌 A review of how the rebate was recorded may help ensure your business receives the intended benefit.
📞 Not sure how this affects your business? Contact our office for assistance.

This post is provided for general information purposes only and does not constitute tax advice.

07/11/2026

📢 WE'RE HIRING – BOOKKEEPER 📢

R&Co. Accounting is looking for a full-time Bookkeeper to join our growing team in Saskatoon, starting September 2026.

If you have bookkeeping experience and enjoy working in a professional, client-focused environment, we'd love to hear from you!

Responsibilities

✔ Maintain and update bookkeeping records
✔ Process bank and credit card transactions
✔ Reconcile bank accounts
✔ Manage accounts payable and accounts receivable
✔ Prepare and file GST, PST, and WCB returns
✔ Prepare customer invoices and process payments
✔ Assist with the preparation of T4, T4A, T5, and other information returns
✔ Assist with year-end preparation
✔ Assist with month-end reporting
✔ Support other accounting and administrative tasks as required

Qualifications

✔ Minimum 2 years of bookkeeping experience
✔ Accounting or financial education/certificate
✔ Proficiency in QuickBooks
✔ Knowledge of GST, PST, and WCB reporting
✔ Knowledge of Canadian tax legislation
✔ Strong organizational and time management skills
✔ Excellent communication skills
✔ High attention to detail and accuracy
✔ Experience with year-end preparation is an asset

🌟 Join a friendly, professional team that values teamwork, attention to detail, and exceptional client service.

📅 Start Date: September 2026

📧 To apply, please email your resume and cover letter to:
[email protected]

⏰ Application Deadline: August 16, 2026

We thank all applicants for their interest. Only those selected for an interview will be contacted.

Please feel free to share this opportunity with anyone who may be a great fit. We appreciate your support!

07/09/2026

🔒 One Simple CRA Setting Could Help Protect You From Tax Fraud

With identity theft and tax scams continuing to target Canadians, protecting your CRA account is more important than ever.
One simple step that many taxpayers overlook is enabling email notifications through CRA My Account.

When activated, CRA email notifications can alert you when:
✅ Personal information changes
✅ Direct deposit information is updated
✅ New mail is available in CRA My Account
✅ Certain security-related changes occur on your account

Why does this matter?
If unauthorized changes are made to your CRA account, receiving a notification quickly may help you identify the issue and respond sooner.

📌 We recommend periodically reviewing your CRA account settings to ensure your email address and contact information remain current.

📞 Have questions about CRA My Account or account security? Contact our office.

This post is provided for general information purposes only and does not constitute tax advice.

07/06/2026

📢 CRA Update - Canada Groceries and Essentials Benefit (CGEB)

Many Canadians are currently receiving CGEB Benefit Notices from the CRA.

What you should know:
🔹 Starting July 2026, the GST/HST Credit has been replaced by the Canada Groceries and Essentials Benefit (CGEB).
🔹 Benefit amounts have increased by 25% compared to the previous GST/HST Credit.
🔹 The CRA is currently calculating benefits for July 2026 – June 2027 using information from your 2025 income tax return, including your family income, marital status, and number of eligible children.
🔹 If the CRA does not have enough information to calculate your benefit (for example, if a tax return has not been filed), you may receive a letter explaining what information is still required.
🔹 If you have already received your payment or your benefit amount is showing in CRA My Account, but you also received a letter requesting information, there is often no need for concern. These notices are frequently generated before recently submitted information has been processed and updated by the CRA.

Questions about your CGEB?
📞 Child and Family Benefits: 1-800-387-1193

06/29/2026

💊 Did You Miss This Medical Expense Claim?

Many Canadians claim prescription medications and dental expenses, but one commonly overlooked medical expense is employee-paid health and dental insurance premiums.
If you contribute to your employer-sponsored health or dental plan through payroll deductions, those premiums may qualify for the Medical Expense Tax Credit.
📌 Check your T4 slip
✅ Box 85 may report employee-paid premiums for a private health services plan.
If Box 85 is not completed, your employer may be able to provide a statement confirming the total premiums deducted during the year.
Other medical expenses that may qualify include:
✔ Prescription medications
✔ Dental services
✔ Vision care and prescription eyewear
✔ Medical devices and equipment
✔ Certain travel expenses for medical treatment
💡 Many taxpayers miss valuable tax credits simply because they don't know they're eligible.

📞 Questions? Contact R&Co. Chartered Professional Accountant
306-221-7868

This post is provided for general information purposes only and does not constitute tax advice.

06/23/2026

⚖️ Paying Legal Fees? You May Be Missing a Valuable Tax Deduction

Many people spend thousands of dollars on legal fees without realizing that some of those costs may provide tax relief.

While legal fees incurred for personal matters are generally not deductible, there are important exceptions under the Income Tax Act.

Legal fees that may qualify for a deduction include those paid to:

✅ Establish, enforce, or collect child support payments

✅ Establish, enforce, or increase support payments

✅ Collect overdue support amounts

✅ Recover salary or wages owed by an employer

✅ Obtain or protect pension benefits

However, legal fees incurred to:

❌ Obtain a separation or divorce

❌ Establish child custody or visitation rights

❌ Equalize family assets

are generally not deductible.

Why does this matter?

Many taxpayers assume all legal fees are personal expenses and overlook deductions they may be entitled to claim. In many cases, the purpose of the legal action—not simply the fact that legal fees were incurred—is what determines whether a deduction may be available.

📌 The tax treatment of legal expenses depends on the specific facts and circumstances of each case.

❓ Have you incurred legal fees in the past few years and wondered whether they might be deductible?

📞 Contact our office to discuss your situation.



This post is provided for general information purposes only and does not constitute tax advice. Eligibility depends on individual circumstances and CRA requirements.

06/21/2026

🚨 Important CRA Update: Disability Tax Credit Applications

The CRA has announced changes to how Disability Tax Credit (DTC) applications should be submitted.

✅ Starting July 14, 2026
DTC applications and related documents should not be uploaded through the “Submit documents” section in CRA My Account, unless CRA specifically asks for more information.

✅ CRA recommends using:
• The digital DTC application, or
• The current paper Form T2201 submitted by mail

⚠️ Important deadline:
After September 8, 2026, CRA will no longer accept older versions of Form T2201 from before 2023.

Why does this matter?

Using the wrong form, missing information, or submitting documents through the wrong CRA channel may cause delays in processing.

The Disability Tax Credit can be valuable for eligible individuals and families.
If you or a family member may qualify, now is a good time to review the application process and make sure everything is submitted correctly.

📞 Need help understanding the tax side of the Disability Tax Credit?
Contact our office — we’re here to help.

This post is for general information only. CRA approval depends on individual circumstances and certification by a qualified medical practitioner.

12/27/2025

📣 BREAKING NEWS for Canada’s Trucking Industry

The Canada Revenue Agency (CRA) has officially lifted the moratorium on penalties for failing to report fees for service on T4A slips for the 2025 tax year and beyond. Trucking companies will now face penalties if they don’t report payments over $500 for services provided by incorporated drivers and other service providers in the trucking sector.

📌 What this means:
✔ The CRA will enforce reporting of fees for services in box 048 of the T4A slip for payments exceeding $500.
✔ These T4A slips must be issued by Feb. 28, 2026 (considered on-time if postmarked by March 2, 2026).
✔ Companies whose primary income is from trucking (more than 50 %) must now comply or risk penalties.

The CRA states that this change is part of efforts to enhance tax compliance, increase transparency, and ensure fairness in the trucking industry, particularly addressing driver misclassification and reporting gaps.

👉 For official CRA details, see:
https://www.canada.ca/en/revenue-agency/news/2025/12/cra-strengthens-compliance-in-trucking-sector-by-lifting-the-moratorium-on-t4a-penalties.html

Stay tuned for CRA guidance on how to meet the updated reporting requirements

Trucking is vital to connecting Canada’s vast and expansive territory and bridging our united economies.

12/22/2025

🎄 Season’s Greetings from R&Co.!

As the year comes to a close, we would like to thank our clients, partners, and community for your trust and support throughout the year.
We wish you and your families a joyful Christmas and a happy, healthy, and prosperous New Year.

✨ Thank you for being part of our journey.

— The R&Co. Team

12/21/2025

📢 We’re Hiring! – Administrative Assistant / Bookkeeper
📍 R&Co. Accounting – Saskatoon, SK
Are you organized, detail-oriented, and passionate about supporting an accounting team? We want to hear from you!
Position: Administrative Assistant / Bookkeeper (Part-Time with potential to go Full-Time)
📆 Apply by: January 15, 2026
📍 Location: Saskatoon, SK
🕒 Hours: Part-Time (possible full-time in the future)
📚 Education: Certificate or Diploma in Accounting or Finance
💼 Experience: 1–2 years preferred
What you’ll do:
✔ Perform bookkeeping for multiple clients
✔ Conduct account analysis & reconciliations
✔ Record transactions in QuickBooks (Online & Desktop)
✔ Maintain financial records
✔ Support general office duties
✔ Assist with data entry for tax returns
✔ Help with year-end procedures
You’re a great fit if you have:
✨ Bookkeeping or administrative experience
✨ Strong attention to detail
✨ QuickBooks and general office software skills
✨ Great multitasking and organizational abilities
📧 How to Apply:
Send your resume & cover letter to: [email protected]
We’re excited to grow our team—apply today! 🙌