Truckers Beware: CRA Audits Coming

Effective December 4, 2025, the CRA has officially lifted the moratorium it has extended in the transportation industry and intends on levying penalties for failure to report fees paid for services for the 2025 tax year and subsequent tax years.  Here’s what you need to know:

"In order to carry a positive action we must develop here a positive vision." Dalai Lama

Did you know that only 23% of Canadians contribute to their RRSPs, and their median contribution is only $3000, according to the most recent stats for the 2014 year? That’s a shame for a number of reasons.

Do you understand the Canadian reporting requirements that apply when assets are held offshore? Year-end tax planning includes the assembly of information to stay onside with tax authorities. The filing of form T1135 Foreign Income Verification is required by April 30 in the cases discussed below. Failure to file will attract expensive penalties.

Budget 2016 eliminated the proposed change to exempt from capital gains tax, the gains made on the disposition of real estate or private corporation shares when the proceeds are donated to charity.

Top guns know. . .be on the ground with DAC delegates on the eve of the American election and hear expert commentary about the fallout of this controversial and exceptional time.  It’s not too late to join close to 200 delegates in San Diego Nov 6 – 9; there are a few spots left.

Register by October 21 for early bird rates for Distinguished Advisor Workshops – fall edition.  October marks the official start of “year-end tax planning season,” and this year there are lots of planning concerns for business owner-managers, real estate owners and succession planning. Top industry experts will enlighten you, so you can add value to your client relationships.