Tax and Accounting Insights
Stay informed with the latest tax tips, CRA updates, and financial guidance from our team of Chartered Professional Accountants. We share practical advice to help individuals and businesses make smarter financial decisions.
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TFSA vs RRSP: Which One Should You Use First
The TFSA vs RRSP decision comes down to one comparison: your tax rate today against your tax rate when you withdraw. Fill the TFSA first if you earn inside the lowest federal bracket, which -
TFSA Withdrawal Rules: When Can You Put the Money Back?
You can take any amount out of a TFSA at any time, for any reason, with no tax and no withholding. CRA sets no limit on how much or how often. What CRA does -
TFSA Contribution Limit and How Room Carries Forward
The TFSA contribution limit is $7,000 for , the same figure as 2025 and 2024. Anyone who turned 18 in 2009 or earlier and has lived in Canada since then holds $109,000 of cumulative -
When Do T4 Slips Come Out and What If Mine Is Missing?
Most T4 slips reach employees between late January and mid February, though the legal cutoff is the last day of February, which for 2026 income means March 1, 2027. CRA My Account runs behind -
CPP and EI Rates for 2026: What Comes Off Every Paycheque
Two deductions come off every paycheque before income tax: CPP at 5.95 percent and EI at 1.63 percent. For , CPP applies to earnings between $3,500 and $74,600, capping employee contributions at $4,230.45. A -
Salary vs Dividends in Canada: Which Pays Less Tax?
Neither one wins on tax alone. Canada’s integration system is built so that income earned through a corporation and paid out carries roughly the same total tax as income earned directly, and the gap -
T4 vs T4A vs T5: What Each Slip Reports and Who Gets One
The T4 vs T4A question comes down to the relationship behind the payment. A T4 reports employment income with CPP, EI, and tax withheld at source. A T4A reports pension income, self employment fees -
T4 Filing Deadline for Employers: Penalties and How to File
The T4 filing deadline for employers is the last day of February following the calendar year the pay relates to. For the tax year, February 28, 2027 falls on a Sunday, so slips and -
Bare Trust T3 Filing 2026: Who Must File and Who Is Exempt
Bare trust T3 filing returns for the tax year after three years of relief. Bill C-15 received Royal Assent on March 26, , and the rules apply to taxation years ending on or after
