Dear clients,
As we near the end of another busy year, I want to take a moment to thank you for your trust, partnership, and collaboration throughout 2025. It’s been a productive year – filled with learning, changes, deadlines, and growth – and we couldn’t have done it without your support.
I hope you get to enjoy this holiday season with your loved ones, take a deep breath, and recharge. Let’s jump into a few important year-end reminders and updates:
Odometer Reading Reminder – Due December 31st
If you’re self-employed or own a corporation and claim business use of your vehicle, please take a photo of your odometer on December 31st and save it. This helps us accurately calculate the business mileage for 2025.
Payroll Deduction Changes for 2026
If you receive an Excel payroll file from us every month – we need your updated 2026 gross annual salary to properly calculate source deductions starting January 2026. Please send us this information as soon as possible, so we can prepare the new tables and you can remit the correct amounts by February 15, 2026.
T4, T5, T4A & T5018 Filing Season
We are now reviewing our list of clients for year-end reporting for January-December 2025.
Please take a moment to:
🔔 We will begin filing T4s and other slips starting January 20, 2026, so please provide the necessary information during the first two weeks of January.
Company-Owned Vehicles – Taxable Benefit Reminder
If you have access to a company-owned vehicle, please remember that we must calculate your auto benefit. The withholding from this benefit must be remitted by January 15, 2026 to CRA.
RRSP Season Planning
Now is a good time to estimate your 2025 income and consider contributing to your RRSP to reduce your taxes.
🗓️ Deadline: Contributions made up to February 29, 2026 can be used for your 2025 tax return.
Want to discuss how much you should contribute and what tax savings it may bring? Reach out and we’ll schedule a quick meeting.
Canada Carbon Tax Rebate for Small Business
If your Canadian-Controlled Private Corporation (CCPC) filed its 2024 return by July 15, 2025, you may have received a Carbon Rebate.
CRA began issuing these payments by direct deposit or cheque in Fall 2025.
📌 Important: This rebate is considered taxable income and must be reported on your 2025 tax return.
Corporate Year-End Reminders for Dec 31st Clients
Many of our clients have a December 31st year-end. Here’s what to keep in mind:
To ensure we file and pay on time, please begin uploading your documents for bookkeeping early in January.
Personal Tax Documents – Start Collecting Now
If you start receiving T4s, T5s, donation slips, or other documents – upload them right away into your ShareFile (now Progress ShareFile) personal tax folder. It helps us stay organized and ready for tax season.
CRA System Maintenance
CRA’s online services are undergoing maintenance and will be partially unavailable until January 12, 2026. If you can’t access certain info – don’t worry, just wait and try again after this date.
From Our Team to Yours…
We had a heartwarming team building session in December with crafts, laughter, and celebration. Here are a few behind-the-scenes photos from our holiday gathering!
We’re officially closed for the holidays from December 24 to January 5.
Wishing you a peaceful, joyful, and restful holiday season with those who matter most.
See you in the new year!
Warmly,
Elena & the Piligrim Accounting Team
