Baker Bookkeeping & Income Tax Preparation

01/26/2026

If you receive the GST Refund ~ it's about to increase :)

The global landscape is rapidly changing, leaving economies, businesses, and workers under a cloud of uncertainty. In response, Canada’s new government is focused on what we can control: building a stronger economy to make life more affordable for Canadians.

01/07/2026

Just around the corner .....

12/13/2025

Canada Revenue Agency
Important changes to the 2025 income tax package: What you need to know
In 2025, approximately 93% of income tax and benefit returns were filed online. If you typically file on paper, why not enjoy the benefits of online filing? It makes filing simpler and offers many benefits, such as receiving your refund quicker and not having to mail anything to the Canada Revenue Agency (CRA).

However, if you choose to file on paper, there are important changes to be aware of this tax-filing season. We’re dedicated to ensuring that you have the resources you need to file so you can get any refunds, and benefit and credit payments you’re eligible for.

What’s changing with the 2025 income tax package?
This year, the CRA will no longer proactively mail the income tax package to individuals. This means that paper filers will not automatically receive a 2025 income tax package in the mail. This decision has been made to support the CRA’s continued shift to digital services. Electronic returns are generally processed much quicker than paper. Online self-serve options are also available for individuals to easily obtain what they need, if they choose to file on paper.

In addition, the CRA has removed federal schedules with low usage-rates from the 2025 income tax package and their corresponding provincial and territorial schedules, where applicable. Careful analysis was completed in order to remove schedules that would minimize impact on individuals that still choose to file on paper.

List of federal schedules that have been removed:

Schedule 2 - Federal Amounts Transferred from your Spouse or Common-Law Partner
Schedule 3 - Capital Gains or Losses
Schedule 5 - Amounts for Spouse or Common-Law Partner and Dependants
Schedule 6 - Canada Workers Benefit
Schedule 7 - RRSP, PRPP, and SPP Contributions and Transfers, and HBP and LLP Activities
Schedule 9 - Donations and Gifts
Schedule 11 - Federal Tuition, Education, and Textbook Amounts and Canada Training Credit
Schedule 12 - Multigenerational Home Renovation Tax Credit
Schedule 13 - Employment Insurance Premiums on Self-Employment and Other Eligible Earnings
Schedule 15 - FHSA Contributions, Transfers and Activities
Federal schedules 2, 11, and 12 have corresponding provincial and territorial versions that have also been removed from the package. The provincial and territorial versions of schedules 2 and 11 apply to all provinces and territories (except for Quebec). The provincial version of schedule 12 only applies to British Columbia, New Brunswick, and Saskatchewan. Make sure to obtain all the schedules you need for your tax situation.

How to get what you need to file on paper
The CRA will continue to support individuals who choose to file on paper. Beginning on January 20, 2026, you can:

Order, view, download, and print the package online at Forms and publications - CRA.
Call the CRA’s automated phone line at 1-855-330-3305 (non-residents can call 1-613-940-8495). If you choose to call, your Social Insurance Number (SIN) will be required.
If you’re looking for documents not included in the package, including the schedules that have been removed, we’ve got you covered! You can get any forms and schedules, or publications not included in the package, by using the methods listed above.

It can take up to 10 business days for publications and forms to arrive by mail. If you try to obtain a 2025 income tax package before January 20, 2026, the most recent version available will be the 2024 income tax package.

Try filing your tax return online
Switch to online filing and enjoy the many advantages it offers! We have a list of certified tax software programs that you can use, including options that are free. Go to Tax software for filing personal taxes for more information.

Make filing even easier with the Auto-fill my return service. This service automatically fills in parts of your tax return with information we have on file at the time of the request. You must be registered and have access to your CRA account to use this service.

You can also sign up for direct deposit. By doing so, you’ll receive your payments from the CRA faster and securely, directly in your account at a Canadian bank or credit union. When you combine online filing and direct deposit, you could get your refund within eight business days.

Free tax-filing help
SimpleFile services are simplified tax-filing methods offered by the CRA to eligible individuals with a lower income and a simple, non-taxable situation. You only need to answer a series of quick questions, and then the services use your answers and the information the CRA has on file to complete and process your tax return. You may receive an invitation to use the CRA’s SimpleFile services in your CRA account or in the mail. Individuals that receive an invitation are encouraged to use this free, fast, and secure method to file their tax return. If you didn’t receive an invitation, but think you might be eligible, go to canada.ca/simplefile and use the eligibility questionnaire to see if you may qualify. The eligibility questionnaire will be available starting on February 23, 2026.

If you have a modest income and a simple tax situation, volunteers at a free tax clinic may be able to complete your tax return. These clinics are available in-person or virtually. Go to Free tax clinics for more information.

More information
You can visit the following pages for additional information to help you prepare for tax-filing season:

Filing your income tax and benefit return on paper
Get ready to file a tax return (the CRA will update this page in late January 2026)
Stay connected
To receive updates on what is new at the Canada Revenue Agency, you can:

Follow the CRA on Facebook.
Follow the CRA on X - .
Follow the CRA on LinkedIn.
Follow the CRA on Instagram.
Watch the CRA’s videos about taxes and more on YouTube.
Subscribe to a CRA electronic mailing list.
Add our RSS feeds to your feed reader.
Listen to the CRA’s Taxology podcast.

Information on the SimpleFile services

06/17/2025

The Government of Canada has tabled legislation proposing to reduce the lowest income tax rate from 15% to 14%, effective July 1, 2025.

The Canada Revenue Agency (CRA) updated the Payroll Deductions Online Calculator (PDOC) for the July to December 2025 period so that users are able to reduce tax withholdings as of July 1. This means that, effective July 1, individuals with employment income and other income subject to source deductions could have tax withheld at 14%.

The July 2025 edition of the PDOC is now available on the Canada.ca website at Canada.ca/pdoc.

02/04/2025

❓ Did you know there are legislative changes for short-term rental hosts?

You now need to have the right licenses, registrations or permits to be a compliant property based on your municipality or province requirements. If you're not considered to be compliant, you won't be able to claim deductions on your tax return.

Here's everything you need to know ➡️ https://ow.ly/gmt550UMQXo

[Image description: A wooden chalet lit up at night in a snow-covered forest.]

02/04/2025

The Government of Canada is deferring the date on which the capital gains inclusion rate would increase to January 1, 2026 to provide certainty to Canadian taxpayers and businesses. To ensure most middle-class Canadians do not pay more tax once the capital gains inclusion rate is increased, the government will maintain or enhance existing capital gains exemptions while creating a new investment incentive.

Learn more about what this means for you: https://ow.ly/e1B950URh43

09/24/2024

CCanada Revenue AgencyWatch your limit when contributing to your Tax-Free Savings Account (TFSA)!
Are you saving for a car or a dream vacation? A TFSA is a great way to save tax-free. The TFSA is a way for individuals who are 18 and older and have a valid social insurance number (SIN) to save money and withdraw it tax-free throughout their lifetime.

Whether you already have a TFSA or are thinking about opening one soon, it is important to remember that overcontributing to your TFSA can result in a tax of 1% for every month that the excess contributions stay in your account(s).

Understanding your contribution room
There is a limit on how much you can put in your TFSA and that limit is made up of three things:

the annual TFSA dollar limit (the TFSA dollar limit for 2024 is $7,000)
any unused contribution room from previous years
any withdrawals you made during the previous year (excluding direct transfers from another TFSA)
Here’s how to stay within your limit:

Step 1: Check My Account for the TFSA limit for the year and your unused contribution room from the previous year.
Step 2: Check your TFSA transactions with your financial institution to see how much you have already contributed this year. Remember that if you have more than one TFSA, your total contributions to all TFSAs will need to stay within your limit.
For more information, check out TFSA contributions.

How will the CRA notify you about overcontributing?
If you overcontribute to your TFSA you will be notified through My Account or by mail. Make sure you are registered for My Account and are signed up for electronic mail notifications.

Mistakes happen! If you do overcontribute, withdraw excess amounts as soon as possible. You may be assessed on the overcontribution resulting in paying tax on the excess amount.

What can lead to overcontributing?
There are various reasons that can cause people to overcontribute to their TFSA. Want to avoid these mistakes? Check out our new webpage that walks you through the common ways people tend to overcontribute and how you can avoid them.

The page highlights common scenarios such as:

managing more than one TFSA
transferring money in and out of your TFSA
misunderstanding your contribution room in My Account
Additional resources
Looking to learn about more ways to save? In our latest podcast episode, TFSA vs. RRSP, what's the difference?, we dive into the differences between the two registered plans and answer the most frequently asked questions.

03/08/2024

We have moved!! We are now at 138 Colborne Street in Tweed. I am having difficulty changing my Google Business Address. If anyone can help me with that I would really appreciate it :)

03/04/2024

Important: Are you affected by the change to GST/HST electronic filing requirements?

For GST/HST reporting periods that begin in 2024, all GST/HST registrants, except for charities and selected financial institutions, will be required to file returns electronically. If this change applies to you, there will be penalties for not filing electronically. Note that if you file monthly or quarterly the penalties will be waived until April 2024.

For more information, visit Businesses: Are you affected by the change to GST/HST electronic filing requirements?