Tax Tips and Reminders – October 2025 This edition covers key tax updates including recent changes to the CRA’s Voluntary Disclosures Program, court rulings on TFSA overcontributions and employment expense claims, and clarification on deductible moving expenses. It also highlights important developments like the Canada Post strike’s impact on tax obligations and changes to CRA’s direct deposit and electronic mail processes. Taxpayers should be aware of stricter disclosure requirements, limited…

Tax Tips and Reminders – September 2025 We’re pleased to share our latest Tax Tips newsletter, offering a high-level summary of recent tax developments relevant to business owners, individuals, and investors. This month’s issue covers several important topics, including: Read the full newsletter here: Link If you have questions about how these updates may affect your personal or business taxes, or if you’d like to discuss year-end tax planning, please…

Retirement Announcement – Steve Mytnowych As we are finally moving to summer and winding down from our busy time, we have an announcement to share. Steve Mytnowych has decided that the time has come to retire.  He has been a key team member since the inception of the firm and even earlier.  Steve has provided exemplary support and service to clients for many years and has earned their trust and…

Attention: Office Closure Notice – Thursday, May 1st, 2025 Our team has been working diligently throughout the personal tax season, and we truly appreciate their dedication and hard work. Our office will be closed on Thursday, May 1st, and will reopen on Friday, May 2nd during regular business hours. Thank you for your understanding and continued support!

2024 PERSONAL INCOME TAX RETURN INFORMATION We have compiled a number of resources for you to review as you begin to prepare your documents for your 2024 Personal Income Tax Return:  IMPORTANT PERSONAL TAX DEADLINES: The 2024 RRSP contribution deadline for it to be deductible for the 2024 tax year is Monday, March 3, 2025.The 2024 personal income tax filing deadline is Wednesday, April 30, 2025. If you or your spouse are self-employed, your filing deadline is Monday, June 16,…

As we embrace this festive season, we want to extend our sincerest gratitude to our clients and partners for your continued trust in us. And a special thank you to our dedicated HVGP team for their hard work and commitment throughout 2024. It’s been a pleasure supporting your accounting and consulting needs, and we look forward to another year of collaboration. Before you dive into your holiday festivities, we’d like…

Tax Tips and Reminders – October 2024 Please find here our latest tax tips newsletter LINK. Following up from our previous newsletter regarding the changes to the capital gain inclusion rate, we are currently waiting for the new corporation tax forms to be released to properly reflect the new inclusion rate. Please note that if your corporation has a year-end date after June 24, 2024, the filing of your return…

Tax Tips and Reminders – September 2024 Following up from our last newsletter on June 12 regarding changes to the capital gains inclusion rate, the Department of Finance has updated their website to provide clarifications for the transition period. It is now clarified that trusts will be required to disclose to their beneficiaries in prescribed form which period the capital gains relate to (i.e. before or after the June 25…

Government Introduces Notice of Ways and Means in Canadian Parliament to increase the Capital Gains Inclusion Rate On Monday June 10, the Government tabled a Notice of Ways and Means Motion to introduce legislation proposed in Budget 2024.  Federal budget announced on April 16, 2024, proposed changes to the capital gains inclusion rate that can have significant implications for taxpayers with accrued and unrealized capital gains. The Government has released a…

Canada’s Deputy Prime Minister and Finance Minister Chrystia Freeland delivered the 2024 Federal Budget in the House of Commons on April 16, 2024. The budget proposed a wide array of changes impacting a variety of individuals, businesses, and other organizations. You can find our full summary here. 1.     Capital Gains Inclusion Rate – The inclusion rate will be increased from 50% to 2/3 effective for dispositions on and after June…