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10/14/2026

Had to repay a signing bonus after leaving your job in Canada?
A qualifying signing bonus repayment may be tax-deductible, even if your employer doesn't amend your original T4.
The key is documenting the contractual repayment and claiming the deduction on the correct year's Canadian tax return. Missing that step could mean paying more income tax than necessary.

10/08/2026

Employee stock options can create an ACB trap when you eventually sell the shares. The cost or book value on Box 20 of your T5008 may not equal your actual adjusted cost base (ACB). Using the wrong ACB can overstate your capital gain and the amount reported on your Canadian tax return.

10/07/2026

Legal and accounting fees from a CRA dispute may be more than just an added cost. Qualifying professional fees for responding to a CRA review, objection or appeal can potentially be claimed as a tax deduction on Line 23200. Keep the invoices and records showing what the professional work related to.

10/07/2026

Buying a business in Canada? In an asset purchase, the section 167 election (Form GST44) can potentially eliminate the need to fund GST/HST on qualifying property at closing. The real planning opportunity is cash flow: determine whether the transaction qualifies before assuming HST has to be paid and recovered later through Input Tax Credits.

10/01/2026

What happens to an unpaid invoice in Canada when a client never pays?
If a customer debt becomes genuinely uncollectible, Canadian businesses should review both the income tax bad-debt deduction and the GST/HST bad-debt adjustment. If you already reported and remitted HST you never collected, there may be an adjustment available once the debt qualifies and is properly written off.
The important part: overdue does not automatically mean bad debt. Keep records showing your collection efforts and why the receivable became uncollectible.

09/28/2026

Unused tuition isn’t automatically most valuable on the student’s future tax return. Before carrying it forward, compare whether an eligible current-year tuition transfer could reduce a parent’s federal tax instead. Once tuition is carried forward, that amount can no longer be transferred.

09/25/2026

If your child doesn’t go to college, closing their RESP without understanding the tax treatment can be costly. RESP contributions, government grants and investment growth are treated differently, and eligible accumulated income may be moved into an RRSP using available RRSP deduction room. The key planning question is not simply whether to close the RESP, but how each part of the RESP should be handled before money comes out.

09/22/2026

Planning a major R&D investment in Canada? CRA’s new SR&ED Pre-claim Approval process can give eligible businesses a technical eligibility decision before significant project costs are incurred. That can make the SR&ED tax credit part of the investment decision itself, rather than something considered only when the tax return is filed.

09/18/2026

Canada’s proposed Productivity Mega Deduction could materially change the timing of tax deductions for business asset purchases. Before making a major capital investment, confirm the asset’s CCA classification, eligibility and available-for-use date. A 100% write-off means an immediate deduction against taxable income, not a 100% refund.

09/17/2026

Ontario PSWs could claim a new refundable tax credit of up to $1,100 for 2026. Eligibility depends on your actual PSW duties, where you work, and the eligible earnings your employer certifies on your T4, so check your 2026 T4 before filing your 2026 tax return in 2027.

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