Dear Clients and Friends,
It’s hard to believe January is over – even though the holiday season feels like it just ended.
Here in the office, we’ve hit the ground running.
Just two weeks after year-end, we began actively working on the preparation and filing of T-slips (T4, T4A, T5, T5018) for the period January–December 2025.
T-Slip Preparation Is Underway
For clients who expect any sort of T-slips from us: if you haven’t heard from our office by mid-February, please reach out to confirm we have the correct information on file. This helps us ensure all slips are prepared and filed on time.
RRSP Tax Planning & Webinar (was held on Jan 28)
We are well into RRSP planning season, and I encourage you to start thinking about your contributions.
Reminder: Contributions made before March 2, 2026 can be applied to your 2025 tax return.
To help you plan effectively, I co-hosted a free RRSP webinar with a Private Wealth Manager Josh Weiss, CFA on January 28.
If you’re interested to watch the recording, please let us know and we will send you the link.
The Personal Tax Season Is Coming Soon
After the T-slip period, we quickly move into the personal tax season. On February 25th, 2026 I will send a complete email with video instructions explaining how the tax process will work this year, including important changes. Please review that carefully when it arrives.
December 31, Corporate Year-End Deadlines
For corporations with a December 31 year-end, here are the key upcoming deadlines:
• HST Annual Return – Due March 31, 2026
• HST Payment – Due March 31, 2026
• Corporate Income Tax Return (active business) – Must be filed by June 30, 2026, but taxes payable are due by March 31, 2026
• Tax Payments for Non-Small Business / Passive Income Corporations – Due February 28, 2026
Please begin gathering and delivering your bookkeeping documents as soon as possible so we can complete your year-end work and filings on time.
Federal Tax Updates for 2025
Capital Gains Inclusion Rate – Deferred to 2026
The federal government announced on January 31, 2025 that the proposed increase in the capital gains inclusion rate has been deferred to January 1, 2026. This means:
• All capital gains realized in 2024 and 2025 will be taxed at the current 50% inclusion rate.
• You do not need to calculate gains using the proposed 66⅔% inclusion rate for 2024 or 2025.
This provides clarity and stability as we work through upcoming tax filings.
💳 New Merchant Payment Option – Easier & More Secure
We’ve recently upgraded the way we accept payments by switching to a Canadian merchant provider called Helcium. This change gives you the option to securely save your credit card information for future payments. Once you choose this option, we can automatically process your invoices as they’re issued – no more worrying about manual payments or missing deadlines! This is entirely optional, and you can still choose to pay manually if you prefer. If you’d like help setting this up, just let us know – we’re happy to assist.
💰 Canada Carbon Rebate for Small Businesses
CRA has begun issuing final payments for the Canada Carbon Rebate for eligible Canadian-controlled private corporations (CCPCs) that filed their 2024 tax return by July 15, 2025.
If you see a rebate appear by direct deposit or cheque, that is likely the carbon rebate. You can confirm it by reviewing your CRA account online.
Important: These rebates are generally taxable income and should be included in your 2025 corporate filing.
📥Business Registration Online (BRO)
Effective November 3, 2025, all new business number registrations and CRA account registrations must be completed online through the Business Registration Online (BRO) portal – phone registrations are no longer accepted.
👩💼 Office Schedule & Travel Notice
A personal note: I will be out of the office from February 5 to February 16. During that time, the team will continue working on your files. Please email or call as needed – someone will be available to support you.
As a reminder, our office phones are working from 9:00 AM to 3:00 PM, so if you want to drop off the documents please call or e-mail first as we work remotely often.
Wishing you a peaceful and productive start to 2026! This month is about preparation and clarity – getting documents in order, confirming addresses, reviewing your RRSP planning, and setting the tone for a successful tax season.
Thank you for your trust and collaboration – from the entire team at Piligrim Accounting and myself.
Warm regards,
Elena & Piligrim Team
