Staying informed is one of the best ways to protect your finances, avoid costly missteps, and uncover new planning opportunities.
At Forbes Andersen, we’re here to help you stay proactive, not reactive.
That’s why we’ve pulled together the most important highlights from the Q4 2025 edition of Tax Tips & Traps.
From CEBA loan offsets and TFSA over contribution rulings to major changes in CRA communication and the Voluntary Disclosures Program, this quarter’s updates are especially relevant for individuals, business owners, and high-net-worth taxpayers as we head into year-end.
CRA can now apply tax refunds to CEBA loans
→ If you have an outstanding CEBA balance, your income tax refund or benefit could be redirected automatically — no notice required.
Online platforms must report user income to CRA
→ Platforms like Airbnb, Turo, and Fiverr are now required to report earnings of Canadian users annually.
Voluntary Disclosures Program overhaul
→ New “prompted vs. unprompted” categories now affect how much interest and penalty relief is available.
TFSA losses don’t eliminate tax on over contributions
→ A federal court confirmed: even if your TFSA’s value drops, the penalty tax still applies.
Work clothing not deductible unless contractually required
→ Without a T2200 and clear employer expectations, even job-specific outfits won’t qualify for deductions.
Spousal support must be clearly identified to be deductible
→ If your agreement doesn’t label payments specifically as spousal support, CRA may deny deductions.
Moving expenses: real-time Google Maps data wins in court
→ A taxpayer successfully used rush-hour map data to prove their relocation met CRA’s 40 km rule.
CRA updates during postal strike
→ Expect delays in mailed cheques and communications. CRA encourages e-filing and online correspondence to avoid disruption.
Direct deposit changes now restricted
→ CRA no longer accepts phone updates or changes through EFILE — online portal or mail only.
CRA digital mail expansion continues
→ 500,000 benefit recipients were switched to online-only mail — check your CRA account regularly to avoid missed notices.
For full commentary and actionable advice, download the complete newsletter here: Download the Q4 2025 Tax Tips & Traps PDF
If you have questions about anything covered in this issue — or want help planning for year-end — don’t hesitate to get in touch.
