June 30 Tax Deadline is Looming for Non-Residents

An important deadline is approaching for non-residents with certain Canadian-source income. June 30 is the deadline to file elected returns under Section 216 (pertaining to rental income) and Section 217 (pertaining to Canadian source pension income). There may be significant consequences for missing this deadline as returns received after this date, generally aren’t accepted. Here’s what you need to know:

According to a June report from TD Economics, Canadians’ net worth rose to over $1 million per household in 2025, which is a new record and an increase of 5.3% over 2024.  How is this possible when the housing and labor markets are soft and some are swooning over the real costs of high inflation?  The answer lies in the investments Canadians are holding and, by extension,  in their relationships with the right financial advisors.  What has changed?

Are your tuition fees for summer school eligible for RRSP Lifelong Learning Plan (LLP) withdrawals?  It’s an important question especially if you are looking for funding for your professional training this year.  A tax  free withdrawal from your RRSP can be made, provided, however, that you follow the 10 year repayment rules and organize your study time to qualify.  Here’s what you need to know:

June 30 is an important date for 3 CRA filings and 2 Knowledge Bureau deadlines for the Acuity Conference for Distinguished Advisors and attestation for relicensing RWM™, DMA-Specialist™ and MFA-P™ Designations. Check out the details:

Last week Taxpayers' Ombudsperson François Boileau  tabled his annual report:  In Pursuit of Better Service: Taxpayers Deserve More.  once again, it was nothing short of scathing, as CRA received its highest number of complaints in the last three years.  Calling our “completely nuts” Income Tax Act a potential barrier, he is nonetheless pushing for automatic tax filing as a potential solution.  A new episode of Real Tax News with Evelyn Jacks & Friends available next week, will feature guest Gillian Petit, Ph.D. - author of a great report, Welcome News for Lower-Income Canadians, but There’s More to Do - which takes a deeper dive.  Consider the following:

Is gambling income taxable? You bet! In fact, this has been proven in several court decisions recently, outlined well in an article by law firm BLG. This requires an important new conversation between taxpayers and their tax and financial advisors: income derived from professional gambling activities such as poker, may indeed be fully taxable, as opposed to a tax exempt windfall.

Having trouble recruiting and retaining qualified tax specialists to help with your clients’ ever more complex financial affairs? Shifting your tax accounting practice to provide expert advisory services year round is key to required scalability as demand grows for in a rapidly changing environment in the tax and financial services. Some recent statistics prove the point: