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:

The new T1 return includes a space to send the taxpayer’s email address to CRA.

Recently, the Tax Court of Canada (TCC) levied interest and gross negligence penalties against five taxpayers who were shareholders and operators of a family restaurant.

This is a continuation from last week's article, "Are You Planning Retirement for your Clients?"

Are you spending enough time consulting with your clients who are unincorporated Farmers and Fishers? 

Port Elgin, Ontario’s Marlene Donaldson recently completed the T1 Professional Tax Preparation course with Knowledge Bureau in order to better understand tax changes for the current income tax year as well as to update her skills to better prepare for the upcoming season.

We have all heard people say they would rather be at work than take a holiday.