The Q2 2026 edition of Tax Tips and Traps highlights several important developments that could have significant implications for taxpayers this year. Inside, we explore updates to capital gains planning, changes affecting business owners and incorporated professionals, trust and estate considerations, and evolving CRA enforcement trends. The issue also covers practical strategies around retirement planning, family tax planning, and navigating common reporting traps that can l

For most people, there are relatively few tax breaks. A TFSA (Tax Free Savings Account) is one you can count on, and it is often overlooked. The following post includes strategies you can use to get the most out of your TFSA.

This quarterly tax update highlights several recent developments affecting individuals and businesses, including expanded CRA reporting through digital platforms such as Airbnb and Uber beginning with the 2025 calendar year, new GST/HST rebates for first-time home buyers on homes up to $1.5 million, and increased CRA scrutiny of aggressive insurance-based tax avoidance schemes.

The year end planning tax tips and traps provides a high-level overview of 2025 year-end tax planning considerations for business owners, investors, and high-net-worth individuals. It covers strategies such as managing capital gains and losses, planning around OAS and CPP, optimizing RRSP, TFSA, FHSA and RESP contributions, and taking advantage of available deductions and credits before year-end. It also highlights planning opportunities for business owners, including accessi