Our Q4 2026 Tax Tips & Traps newsletter covers what changed this quarter: a proposed immediate write-off for most business assets, plus Tax Court rulings on record-keeping, worker status, and support obligations.
Here's what business owners, investors, and individuals should know.
→ The federal government has proposed letting businesses deduct the full cost of most depreciable property acquired on or after September 15, 2026 in the year it becomes available for use. Buildings, intangibles, and certain vehicles are excluded. The proposal has not yet been tabled or passed into law.
→ Two taxpayers lost their invoices in a flood, and CRA denied over $100,000 of expenses. A summary their accountant had prepared from the original invoices helped turn the case around.
→ CRA said the administrator was an employee. The court disagreed, and explained how mutual intention fits into the worker-status test.
→ Buying a qualifying home doesn't, by itself, end your FHSA's maximum participation period. It can, however, affect a future tax-free withdrawal.
→ An oral agreement between separated parents didn't override a court order requiring support payments, and that cost the taxpayer the eligible dependant credit.
→ A commission employee lost nearly all of his expense claims, and a lack of reasonable care allowed CRA to reassess beyond the normal reassessment period.
→ A taxpayer who paid her son-in-law's appeal costs couldn't deduct them. Neither could he, since he didn't pay them.
For the full breakdown, download the complete PDF here.
If you have questions about anything covered in this issue or want help with your 2026 year-end planning, don't hesitate to get in touch.
