2 - Blog - Jones & O’Connell LLP

When help is available under the CRA’s Taxpayer Relief Provisions

By Web AdminAccounting, Auditing, Tax & Consulting NewsApril 30, 20260 comments

The Canadian tax system is what is termed a self-assessing system, in which taxpayers take the initiative to complete and file a tax return each year. In that tax return they provide information on income earned during the previous year, claim any tax deductions and credits to which ...

Claiming a tax deduction for child care expenses incurred

By Web AdminAccounting, Auditing, Tax & Consulting NewsApril 23, 20260 comments

While the rules of the Canadian tax system include a great number of tax deduction and credit claims which can be made by individuals, the general rule is that personal living expenses do not, in most cases, qualify for any kind of tax assistance or tax relief. However (and fortunately ...

Making a payment arrangement with the CRA

By Web AdminAccounting, Auditing, Tax & Consulting NewsApril 16, 20260 comments

Very few Canadians look forward to the annual chore of completing and filing their income tax return, and that experience isn’t improved by finding out, once the return is completed, that additional tax amounts are owed to the CRA. Unfortunately, that’s an experience ...

Claiming the political contribution tax credit on your 2025 tax return

By Web AdminAccounting, Auditing, Tax & Consulting NewsApril 9, 20260 comments

2025 was a busy year in Canadian politics. In addition to the general federal election, elections were held in two provinces (Ontario and Newfoundland) and two of the territories (Nunavut and Yukon Territory). In addition, there were no fewer than thirteen by-elections and eleven ...

How, when, and where to pay your 2025 income taxes

By Web AdminAccounting, Auditing, Tax & Consulting NewsApril 2, 20260 comments

Fortunately for Canadian taxpayers, most individual income tax returns filed with the Canada Revenue Agency result in payment of a tax refund to the taxpayer. Last year, out of nearly 34 million returns filed, just over 19 million resulted in payment of a refund to the taxpayer, ...

New Quarterly Newsletters

By Web AdminAccounting, Auditing, Tax & Consulting NewsApril 1, 20260 comments

Two quarterly newsletters have been added – one dealing with personal issues, and one dealing with corporate issues. They can be accessed below. Corporate: Issue #75 Corporate Personal: Issue #75 Personal The information presented is only of a general nature, may omit many ...

What’s new for the 2025 filing season?

By Web AdminAccounting, Auditing, Tax & Consulting NewsMarch 26, 20260 comments

When Canadians sit down to prepare the tax return for the 2025 tax year, the forms they use will appear to most taxpayers to be identical to the ones completed at this time last year. That appearance is deceptive, as the tax return form is never the same from one year to the next. ...

Some last-minute tax filing strategies – what (and what not) to claim

By Web AdminAccounting, Auditing, Tax & Consulting NewsMarch 19, 20260 comments

Most taxpayers don’t sit down to prepare their tax return for the 2025 tax year – or meet with a tax preparer to get that return done – before early in the month of March, after T4 slips have been received from their employer and the CRA’s online filing services ...

How to know you’re really hearing from the CRA

By Web AdminAccounting, Auditing, Tax & Consulting NewsMarch 12, 20260 comments

For most Canadians, interactions with the Canada Revenue Agency (CRA) are few and far between. In the vast majority of cases, taxpayers file a tax return each spring and either pay any tax amount owed or (in most cases) receive a refund and do not hear from or have reason to contact ...

How, when and where to file your 2025 tax return

By Web AdminAccounting, Auditing, Tax & Consulting NewsMarch 5, 20260 comments

Canada’s tax system is a self-reporting one which depends almost entirely on the voluntary compliance of Canadian taxpayers. Almost every Canadian is required to complete and file a tax return annually and, while it’s likely that few of them look forward to doing so, ...

Making the annual RRSP decision

By Web AdminAccounting, Auditing, Tax & Consulting NewsFebruary 26, 20260 comments

In some ways, the annual March 1 deadline for making a contribution to a registered retirement savings plan (RRSP) couldn’t come at a worse time with respect to the tax and non-tax financial obligations of most Canadians. During February, credit card bills for holiday spending ...

Taking advantage of pension income splitting

By Web AdminAccounting, Auditing, Tax & Consulting NewsFebruary 19, 20260 comments

Many Canadian couples, by the time they reach retirement, have achieved most of life’s major financial goals, and the recurring costs of reaching those goals are no longer a consideration. Retirement savings are in place, most homeowners are mortgage-free, and the cost of raising ...

Understanding the rules on payment of tax instalments

By Web AdminAccounting, Auditing, Tax & Consulting NewsFebruary 12, 20260 comments

Every resident of Canada is required to pay income tax on their worldwide income. And while the vast majority of Canadians do so when and as required (with varying degrees of reluctance), very few understand how the amount of tax they must pay is calculated, or the system by which ...

Aging in place – claiming the Home Accessibility Tax Credit

By Web AdminAccounting, Auditing, Tax & Consulting NewsFebruary 5, 20260 comments

The strong preference of many older Canadians is to remain in their own homes for as long as possible – usually described as “aging in place”. There’s a lot to recommend that choice – moving, at any age, is a stressful experience. As well, remaining ...

Provincial and Territorial 2026 Individual Income Tax Brackets and Rates

By Web AdminAccounting, Auditing, Tax & Consulting NewsJanuary 29, 20260 comments

Alberta Individual income tax rates and brackets for 2026 During the 2026 taxation year the province of Alberta will levy individual income tax using the following income brackets and tax rates. Tax Rate Taxable Income Brackets ...

Employment Insurance Premiums for 2026

By Web AdminAccounting, Auditing, Tax & Consulting NewsJanuary 26, 20260 comments

The Employment Insurance premium rate for 2026 is set at 1.63%. Yearly maximum insurable earnings are increased to $68,900, making the maximum employee premium $1,123.07. As in previous years, employer premiums are 1.4 times the employee premium. The maximum employer premium for ...