Category: News

Good news, Canada! As of July 1 the highly anticipated federal tax cut has taken effect. The lowest federal personal income tax rate has dropped from 15% to 14%, putting a little extra back in your pocket. But here’s the twist:…

The Government of Canada has officially confirmed that all final Carbon rebates for small businesses are tax-free. However, the last CCR payments are only non-taxable if you have filed your 2024 income tax return by July 15, 2025.   The distribution…

July is just around the corner. And for many Canadians, that means crucial financial support is on its way! The Canada Revenue Agency (CRA) is set to disburse 5 important federal benefits this month. Make sure you know exactly when…

A new federal benefit for working-aged people with disabilities, the Canada Disability Benefit (CDB), will issue the first payments this July 17. The amount may reach up to $200 per person in a month, but it depends on your circumstances. …

Several tax filing deadlines and benefit payment dates are impending this month. Mark your calendars for the following dates:  June 10, 2025 – Ontario Trillium Benefit (OTB) Payment (the next OTB payment for eligible Ontario residents)  June 16, 2025: Filing…

On May 14, 2025, the Department of Finance Canada announced a reduction in the lowest federal personal income tax rate. This tax cut is expected to benefit over 22 million taxpayers across the country. A two-income household could save up…

May is here, bringing warmer weather and a new round of government benefit payments. These payments directly impact millions of households across Canada.   If you’re eligible, these dates matter.  Ontario Trillium Benefit (OTB): Arriving May 9, 2025, this payment helps…

Canadians received their last Canada Carbon Rebate (CCR) payment starting April 22, 2025. Following this payment, the CCR program has now been discontinued.  This decision followed the official abolishment of the federal carbon pricing system (also known as the carbon…

Last month, CRA announced to hold off filing returns if you have 2024 capital gains to report, needing more time to update systems for the capital gains inclusion rate reversal. To compensate, the late filing penalty and interest is waived,…

April is a busy month not just for settling tax obligations but also for government payments. Here's a breakdown of important dates to keep in mind: April 4, 2025 — the second GST/HST Tax Credit you can get this year …