Dear Clients and Friends,
As the golden light of autumn fills our days and we begin to wrap up a year of harvest—of both nature’s bounty and our shared work—I want first to say: thank you. Thank you for the warm summer days, the laughter with loved ones, and the small moments of joy that make every season precious. And yes — with Halloween just around the corner (beware of any spreadsheet skeletons haunting your reports!), we’re stepping into that liminal space where we both reflect on the year and prepare for the holidays ahead.
Here are some key updates and reminders to guide us through this time:
1. Important Update on how to register Businesses Number with CRA
Starting November 3, 2025, registrations for new business number (BN) or Canada Revenue Agency (CRA) program accounts must be done online. The CRA is moving away from phone-based registrations, so if you call the Business Enquiries (BE) line to register, you’ll be directed to the CRA’s secure online portal Business Registration Online (BRO).
This change is designed to make the registration process quicker, easier, and more secure for businesses.
2. Big Interface Change in QuickBooks Online
If you use QuickBooks Online, please note that the interface will change by the end of November. If you’d like to get ahead of the curve, simply drop me a message and I’ll send you a link to the video from QuickBooks showing the upcoming changes. Watching it now means you’ll be ready and comfortable when the new layout goes live.
3. Payroll Reminder: Two Months Left in the Year
There are only two payroll months left in 2025: November and December. Especially for those planning to pay bonuses or annual wages tied to year‑end performance — remember: the final remittance for December must be paid by January 15, 2026. If you’re considering a bonus or annual wage payment, please contact us preferably by the end of November so we can estimate and plan ahead.
4. Gifts, Awards & Long‑Service Awards — What You Should Know
A frequent question I receive: what kinds of gifts or awards to employees are taxable and which aren’t? According to CRA policy:
- If you give employees non‑cash gifts or awards (e.g., a physical item) that are not cash or near‑cash, and the combined fair market value (FMV) of those gifts or awards in a year is $500 or less, then the benefit may not be taxable. (Government of Canada)
- For long‑service awards (recognizing 5 or more years of service), the award must meet a few conditions (non‑cash, at least 5 years since last award, FMV $500 or less) to be non‑taxable. (SB Partners)
- If the total value exceeds those limits, or if the gift/award is cash or “near‑cash” (e.g., general gift cards convertible to cash), then it becomes a taxable benefit and must be included in the employee’s income. (cpapros.ca)
If you’re thinking of giving employee gifts or awards before year‑end, please read the articles in the links to stay informed.
5. Personal Tax Installment Deadline – December 15, 2025
Just a reminder: December 15 2025 is the deadline for paying your personal income tax installment. If you’re not sure whether you’re required to pay, or how much, please contact me so we can review your situation now.
6. New Course for Post‑Soviet Accounting Professionals
Exciting announcement: I will be leading an intensive 5‑session online course (in Russian) for accountants from former CIS countries, beginning November 10, 2025. The focus: adapting your accounting and tax‑practice skills to the Canadian context, including terminology, concepts and technical workflow. Spaces are limited — if you’re interested or know someone who might be, please reach out, and I will send the information your way.
7. Office Time‑Off & Professional Development
Please note that our office will be closed on November 3 and 4 as a team attending the accounting trade show “Accountex,”. I will be attending a tax seminar on November 6‑7 out of the office as well. We’ll be back fully on deck after that and will share highlights of what we learned in the next newsletter.
Thank you once again for your trust and partnership. As we transition from harvest into the holiday season, let’s keep enjoying the beautiful days and making thoughtful plans for what’s ahead. If you ever need anything — a checklist, a question answered, or just a quick chat — I’m here for you.
Warmly,
Elena
Piligrim Accounting Inc.
