Tax Tips and Reminders – May 2026 This edition of Tax Tips and Reminders covers a number of topics, including: • Importance of Strong Internal Accounting: Gross Negligence Penalties• Transfer of Assets to Shareholder’s Child: Shareholder Benefit• Shareholder Benefits: Offset by Loan to Corporation?• Individuals Buying and Selling Houses: GST/HST• Adding Relatives to Legal Title of a Property: Beneficial Ownership• Canada Child Benefit (CCB): Shared Custody• Labour Mobility Deduction: Temporary…

Office Closed – May 1, 2026 After a busy tax season, our team is taking a well-earned break. Our staff have dedicated many long hours to ensure everything was completed accurately and on time, and we’re grateful for their hard work and commitment. As a result, our office will be closed on Friday, May 1, 2026. We will resume our regular business hours on Monday, May 4, 2026, and will…

Ontario Budget 2026 – Key Updates The 2026 Ontario Budget introduces several measures to support businesses and individuals during ongoing economic uncertainty. Key highlights include: • Lower small business taxes – The corporate income tax rate will decrease from 3.2% to 2.2% effective July 1, 2026.• Dividend tax credit changes – The non-eligible dividend tax credit will be reduced starting January 1, 2027.• Faster tax write-offs – Continued access to accelerated depreciation and immediate expensing to…

Year End Tax Reminders and Holiday Hours With December 31, 2025 fast approaching we would like to leave you with some Year-End tax planning reminders and our holiday office hours. Year-End Tax Planning Reminders Further information is available in our December 2025 Tax Tips Newsletter. Our team is here to support you as we wrap up 2025 and prepare for the year ahead. Holiday Office Hours December 22, 23, 29,…

HVGP Commentary on the Federal Budget November 2025 On November 4, 2025, the Minister of Finance and National Revenue, the Honourable François-Philippe Champagne, presented Budget 2025 – Canada Strong to the House of Commons. Some highlights include the following: A strong focus on capital investment, innovation, and clean-economic growth. Business owners should pay close attention to: For individuals, the focus is on reducing taxes, simplifying filing, and targeting relief to…

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,…