TaxDeep

Canada Statutory Holidays 2026: The Complete Guide for Workers and Employers

12/10/202512/10/2025 TaxDeep No Comments

Whether you are an employee arranging vacations or a business preparing staffing schedules and payroll, understanding Canada’s statutory holidays is essential. Canada observes a mix of nationwide federal holidays and provincial/territorial holidays, which means the list of days off can vary depending on where you live and work. This guide provides a clear, updated overview…

Update

2026 Canada Federal Tax Updates — 7 Key Changes vs 2025

11/28/202511/28/2025 TaxDeep No Comments

The Canada Revenue Agency (CRA) has released the 2026 tax parameters. Most core items — federal tax brackets, Basic Personal Amount (BPA), CPP, RRSP, and the OAS clawback threshold — will be indexed upward by 2% due to inflation. Although this round of updates represents a small increase, they have a significant impact on take-home…

Tax Tips, Update

T2 Corporate Tax Returns in Canada

11/25/202511/25/2025 TaxDeep No Comments

Corporate taxes in Canada can be complex—but every corporation must file them, even with zero income or zero taxes owing.Accurate T2 filing is essential for remaining compliant with the Canada Revenue Agency (CRA) and for minimizing potential penalties, interest, and audit risks. What Is a T2 Corporate Tax Return? Every corporation that is resident in…

Tax Tips

T106 Information

06/26/202511/11/2025 TaxDeep No Comments

Canadian corporations must annually file Form T106 with the Canada Revenue Agency to disclose transactions with non-residents that have not been conducted at arm’s length. Reporting requirements are triggered for transactions with a value exceeding $1,000,000. What is the T106 Form? The T106 form is an information return that corporations must file with the Canada…

AUT-01 – Authorize a Representative for Offline Access

05/26/202511/25/2025 TaxDeep No Comments

The following instructions are taken from the form. When to use this form We need your permission to deal with a representative. Use this form to give a representative offline access (by phone, fax, mail, or in person) to one or more of the following accounts: If your representative wants to submit documents electronically, do not use this…

Tax Tips

HMRC and Companies House Free Filing Service Ending (Effective April 2026)

05/16/2025 TaxDeep 1 Comment

Key Changes from 1 April 2026: Why Is It Changing? What Should You Do Before April 2026? How to Save Your Previous Filings: Free or Low-Cost Filing Options: Software Type Features Cost Taxfiler (IRIS) Commercial CT600 + Company Accounts + XBRL ~£10/month BTCSoftware Commercial Full-featured tax platform From ~£200/year GoSimpleTax Personal For sole traders/self-assessment Free…

Update

We offer Affordable Options for E-Filing T2 for Inactive Corporation Under New CRA Mandates

05/15/202505/15/2025 TaxDeep No Comments

Starting with tax years beginning after 2023, the Canada Revenue Agency (CRA) requires all corporations, including inactive corporations, to file their T2 Corporation Income Tax Returns electronically. Failure to comply may result in a $1,000 penalty. What Does This Mean for Inactive Corporations? An inactive corporation—one that had no business activity or income during the…

Update

GST/HST “Vacation”

12/01/202412/01/2024 TaxDeep No Comments

In late November of 2024, the Federal government announced a temporary exemption period from December 14, 2024, to February 15, 2025, for specific items that typically incur GST or HST. Regrettably, this decision was made without thorough consideration prior to the announcement or the introduction of legislation. The projected savings for taxpayers are minimal, while…

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Update

Quickbooks Online Increase the price again

11/25/202412/01/2024 TaxDeep No Comments

The recent price increase is a clear indicator of Intuit’s continuous efforts to boost revenue from its widely-used accounting software, QuickBooks Online. The company has attributed this rise to various factors, including inflation and the addition of new features and improvements to the software. In today’s fiercely competitive market, businesses are consistently looking for ways…

Bookkeeping, Update

THE EU UPDATES ITS TAX HAVENS LIST

11/14/202411/14/2024 TaxDeep No Comments

The European Union’s most recent update to its “tax haven blacklist” in October 2024 lists eleven jurisdictions as non-cooperative for tax purposes. These countries include: This blacklist is part of the EU’s ongoing efforts to encourage transparency and prevent tax evasion. Countries on the list may face various defensive measures from EU member states, potentially…

Update