Taxccount - Canada Tax Filings

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The CRA will fill in the tax form for 1 million Canadians.Starting March 2027, the Canada Revenue Agency will send 1 mil...
10/22/2026

The CRA will fill in the tax form for 1 million Canadians.

Starting March 2027, the Canada Revenue Agency will send 1 million people a tax return that is already filled in. You look it over, fix anything that is wrong, and send it. You stay in control. By 2029 this grows to 5.5 million people.

It is for people with a lower income and a simple tax year.

To be invited, you must do two things by October 31, 2026:

1. File your 2025 tax return.
2. Sign in to your CRA account and set your mail to email.

That is 9 days from today.

Three things to do now:

- Open your CRA account online. If you do not have one, register for one.
- Change your mail setting to electronic mail.
- If your 2025 return is not filed yet, file it before October 31.

Why this matters: many federal benefit payments only keep coming if you file a tax return every year. Filing on time protects that money.

Source: Canada Revenue Agency.

www.taxccount.com · www.taxfilings.ca · www.lqconsultants.com

Explore your Canadian corporate tax obligations and available deductions with professional guidance tailored to your bus...
10/21/2026

Explore your Canadian corporate tax obligations and available deductions with professional guidance tailored to your business.

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A late form can cost you $2,500. Even if you owe no tax.Most people think filing late only costs money if you owe tax. T...
10/21/2026

A late form can cost you $2,500. Even if you owe no tax.

Most people think filing late only costs money if you owe tax. That is true for your normal tax return. It is not true for Form T1135.

Form T1135 is the Foreign Income Verification Statement. You must file it if, at any time in the year, you owned more than $100,000 in property outside Canada. You count what you paid for it, not what it is worth now.

File it late and the fine is $25 a day, for up to 100 days. That is $2,500 a year, plus interest. You pay it even when your tax bill is zero.

This July a Federal Court judge backed the CRA. A man owned business property in the United States. He filed his 2021 tax return and his T1135 in December 2022. They were due on April 30. He owed no tax. He still had to pay. The CRA said forgetting, or not knowing the rule, is not a reason to cancel a fine. The judge agreed.

What counts:
- Shares of foreign companies, even when you hold them in a Canadian account
- A bank account outside Canada
- A rental home or land abroad

What does not count:
- A holiday home you only use yourself
- Anything inside your RRSP or TFSA

Three things to do:
1. Add up what you paid for everything you own outside Canada. If it ever passed $100,000 this year, you have to file.
2. Ask your broker for a foreign property report. Most send one every year.
3. Put April 30 in your calendar for the form, not just for the tax return.

Source: Financial Post.

www.taxccount.com · www.taxfilings.ca · www.lqconsultants.com

From CRA notices to GST/HST filings and bookkeeping, get the support your Canadian business needs.📩 Let the Experts Hand...
10/19/2026

From CRA notices to GST/HST filings and bookkeeping, get the support your Canadian business needs.

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Simplify your Canadian taxes with expert support for personal tax returns, corporate tax, and CRA compliance.📩 Get a Fre...
10/18/2026

Simplify your Canadian taxes with expert support for personal tax returns, corporate tax, and CRA compliance.

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Canada Child Benefit: the next payment is Tuesday, October 20.The Canada Child Benefit is money the government pays pare...
10/16/2026

Canada Child Benefit: the next payment is Tuesday, October 20.

The Canada Child Benefit is money the government pays parents every month. You pay no tax on it.

How much you can get, from July 2026 to June 2027:
- Up to $679.75 a month for each child under 6. That is $8,157 a year.
- Up to $573.58 a month for each child aged 6 to 17. That is $6,883 a year.
- Up to $290 more a month for a child who gets the disability tax credit.

You get the full amount if your family earned less than $38,237 in 2025. Above that, the payment slowly gets smaller.

Payments went up about 2% in July. That is up to $160 more a year for a child under 6, and up to $135 more for a child aged 6 to 17.

Three things to do this week:
1. File your tax return. You and your partner must both file every year, even if one of you earned nothing. No return, no payment.
2. Check your bank details in CRA My Account, so the money lands in the right place.
3. Tell the CRA if your family changed. A new baby, a move, a new partner or a split all change what you get.

The last two payments of the year are November 20 and December 11.

Source: Canada Revenue Agency (canada.ca).

www.taxccount.com · www.taxfilings.ca · www.lqconsultants.com

Stress-free tax filing starts here. 🇨🇦🧾Tax season doesn’t have to be complicated. Get professional help with your person...
10/15/2026

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Your child benefit money arrives on Tuesday, October 20.The Canada Child Benefit is paid every month. It is tax-free. Yo...
10/15/2026

Your child benefit money arrives on Tuesday, October 20.

The Canada Child Benefit is paid every month. It is tax-free. You keep all of it.

How much you can get, from July 2026 to June 2027:
- Up to $679.75 a month for each child under 6. That is $8,157 a year.
- Up to $573.58 a month for each child age 6 to 17. That is $6,883 a year.
- You get the full amount if your family income in 2025 was under $38,237.
- Above that, the payment slowly gets smaller as your income goes up.

Who gets it: about 3.6 million families in Canada, caring for 6 million children.

3 things to do:
1. File your tax return. You do not apply for this money every year, but you and your partner must both file every spring. No return means no payment.
2. Set up direct deposit in CRA My Account. The money then lands in your bank on October 20.
3. Tell the CRA if your address, your bank or your family has changed. Old details are the most common reason a payment goes missing.

If nothing arrives, wait 5 working days before you call the CRA.

Not sure if you are getting the right amount? Ask us. It takes a few minutes to check.

Source: Canada Revenue Agency.

www.taxccount.com · www.taxfilings.ca · www.lqconsultants.com

Child benefit money lands on Tuesday, October 20, 2026.The Canada Revenue Agency pays the Canada Child Benefit on Octobe...
10/14/2026

Child benefit money lands on Tuesday, October 20, 2026.

The Canada Revenue Agency pays the Canada Child Benefit on October 20. The money is tax-free. About 3.6 million families, caring for 6 million children, get it.

How much you can get:
- Up to $679.75 a month for each child under 6. Over a full year that is $8,157.
- Up to $573.58 a month for each child aged 6 to 17. Over a full year that is $6,883.
- Up to $290 more a month if your child is approved for the disability tax credit. That is a tax break for people with a long-term health problem.
- If your family made under $38,237 in 2025, you get the full amount. Earn more than that and the payment gets smaller.

Three things to do:
1. Check your bank account on October 20. Most payments go straight into the bank.
2. File your 2025 tax return. Your partner must file too, even with no income. The CRA uses both returns to work out your payment. If you do not file, the money stops.
3. Sign in to CRA My Account and fix your details if you moved, changed banks, or your family changed.

The last two payments of 2026 are on November 20 and December 11.

Source: Canada Revenue Agency (canada.ca).

www.taxccount.com www.taxfilings.ca www.lqconsultants.com

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10/13/2026

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