3 - Blog - Jones & O’Connell LLP

Claiming a tax credit for adoption expenses

By Web AdminAccounting, Auditing, Tax & Consulting NewsSeptember 18, 20250 comments

The process of adopting a child is often a lengthy one, in which a myriad of requirements must be met and legal processes followed. Where the adoption is an international one, the process can be even lengthier and more complex, as often the legal requirements of more than one government ...

Making the most of the Tax-Free Savings Account program

By Web AdminAccounting, Auditing, Tax & Consulting NewsSeptember 12, 20250 comments

Tax-free savings accounts (TFSAs) have been a part of the Canadian tax system since 2009, and the TFSA program can be utilized by more Canadians than any other tax-advantaged savings program. And Canadians have clearly recognized the benefits: Canada Revenue Agency statistics show ...

When the CRA comes calling – dealing with the return verification process

By Web AdminAccounting, Auditing, Tax & Consulting NewsSeptember 4, 20250 comments

By the time the end of summer approaches, the tax return filing deadline for all Canadian individual taxpayers has passed, and nearly all tax filers will have filed the required return for the 2024 tax year and received a Notice of Assessment from the Canada Revenue Agency (CRA) ...

Making use of the First Home Savings Account program

By Web AdminAccounting, Auditing, Tax & Consulting NewsAugust 28, 20250 comments

The Canadian tax system provides a number of opportunities for taxpayers to save on a tax-assisted basis. Most Canadians are familiar with registered retirement savings plans (RRSPs) and many are also aware of the availability of the tax-free savings account (TFSA). The newest (and ...

Using the CRA’s online services – signing up for My Account

By Web AdminAccounting, Auditing, Tax & Consulting NewsAugust 21, 20250 comments

Over the past few decades the Canada Revenue Agency, like many other organizations and businesses, has gradually shifted to providing more and more of its services online, through its website. The Agency has been remarkably successful in bringing the Canadian taxpayer along with ...

Making the RRSP decision when you turn 71

By Web AdminAccounting, Auditing, Tax & Consulting NewsAugust 14, 20250 comments

According to numbers released by Statistics Canada there were, as of July 1, 2024, an estimated 2.5 million Canadians aged 65 to 69 and around 2 million Canadians who were between the ages of 70 and 74. That being the case, it’s likely that during the 2025 calendar year, hundreds ...

Receiving a first Instalment Reminder from the Canada Revenue Agency

By Web AdminAccounting, Auditing, Tax & Consulting NewsAugust 7, 20250 comments

By the time summer arrives, Canadian taxpayers have filed their income tax returns for the previous year, have received a Notice of Assessment from the tax authorities with respect to that return, and have either saved or spent their tax refund or, less happily, have paid any balance ...

New Quarterly Newsletters

By Web AdminAccounting, Auditing, Tax & Consulting NewsJuly 31, 20250 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 #72 Corporate Personal: Issue #72 Personal The information presented is only of a general nature, may omit many ...

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

By Web AdminAccounting, Auditing, Tax & Consulting NewsJuly 24, 20250 comments

While most Canadians are familiar with the obligation to file an annual tax return and to pay income taxes owed by the end of April each year, there are in fact many more tax filing and payment deadlines imposed on individuals or businesses throughout the calendar year. Fortunately, ...

Trade war supports for Canadian employees – changes to the Employment Insurance system.

By Web AdminAccounting, Auditing, Tax & Consulting NewsJuly 17, 20250 comments

The current trade and tariff dispute between Canada and the United States has affected individuals and businesses in virtually all provinces and industries. On an individual level, those most affected are often employees who work in industries (like steel and aluminum) for which ...

Getting tax help with summer child care costs

By Web AdminAccounting, Auditing, Tax & Consulting NewsJuly 10, 20250 comments

The work-from-home arrangements which were ubiquitous throughout the pandemic and, to a lesser degree, for a couple of years afterwards, are now largely a thing of the past for most Canadians. One of the consequences of the return to the office was the need for parents who work outside ...

The cost of moving – what’s deductible and what’s not

By Web AdminAccounting, Auditing, Tax & Consulting NewsJuly 3, 20250 comments

As of the end of May 2025, there were just under 202,000 properties listed for sale on the Canadian Real Estate Association’s Multiple Listing Service. While each of those properties and each property sale is different, all of them involve a move to a new location – sometimes ...

The Start of a New Benefit Year - What Can You Receive in 2025-2026?

By Amanda CoombesAccounting, Auditing, Tax & Consulting NewsJune 26, 20250 comments

Most Canadians, understandably, think of our income tax system as a government “program” that takes money out of their paycheques and out of their pockets. And, while it’s certainly true that virtually every Canadian who earns an income must allocate a portion of ...

Coming Clean with the Tax Authorities - Making a Voluntary Disclosure

By Amanda CoombesAccounting, Auditing, Tax & Consulting NewsJune 19, 20250 comments

While it’s unlikely that they do so with any great degree of enthusiasm, the vast majority of Canadians prepare their annual tax return each spring and file that return on time. That’s necessary, because the Canadian tax system is a “self-assessing” one, in ...

Cargivers - Getting Help Through the Tax System

By Amanda CoombesAccounting, Auditing, Tax & Consulting NewsJune 12, 20250 comments

Regardless of their particular circumstances, Canadians who act as unpaid caregivers for disabled, elderly, or chronically ill relatives carry a heavy physical and emotional burden. The weight of those responsibilities is often made greater by financial stresses, particularly where ...

A Mid-Year Check-Up on Your Taxes for 2025

By Amanda CoombesAccounting, Auditing, Tax & Consulting NewsJune 5, 20250 comments

By mid to late June 2025, most taxpayers have filed their tax return for the 2024 tax year and a Notice of Assessment has been issued by the Canada Revenue Agency outlining the Agency’s conclusions with respect to the taxpayer’s income, tax deduction, and tax credit claims ...