Staying ahead of your tax obligations means keeping pace with ongoing CRA changes, new reporting requirements, and evolving court decisions.
In our Q1 2026 edition of Tax Tips & Traps, we highlight key developments that may affect business owners, investors, and individuals as we move into the new year.
From enhanced CRA enforcement in certain industries to reminders around retirement benefits and real estate ownership, this issue focuses on areas where timing, structure, and documentation matter.
→ Penalties are now in play for missed T4A filings on service fees paid to certain trucking corporations.
→ Income earned through platforms like Airbnb, Uber, and similar services will be reported directly to CRA.
→ A recent court decision reinforces how important it is to act quickly if cancelling or deferring OAS.
→ A Tax Court decision confirms that administrative delays should not override valid elections.
→ Most new registrations and program account additions must now be completed digitally.
→ Proposed changes may reduce withholding obligations in limited residential situations.
→ Courts continue to focus on substance over intention when determining who must report gains.
→ CRA clarifies when arrangements do, and do not, qualify for the principal residence exemption.
→ A reminder that unintended transactions can still carry real tax consequences.
For the full breakdown and expert insights, download the complete PDF here.
If you have questions about anything covered in this issue or want help with your 2025 tax filings, don’t hesitate to get in touch.
