Good News for Property Owners: The Underused Housing Tax (UHT) Repeal
Significant paperwork relief is here for property owners with the repeal of the Underused Housing Tax (UHT) for the 2025 tax year. While you likely do not need to file the UHT-2900 this April, it’s important to understand the timeline of the repeal and stay aware of provincial vacancy taxes if you own property outside Alberta. Read our full update on what this repeal means for you and your real estate portfolio.
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The "Hidden" Credits: Medical Expenses and Multigenerational Home Renovation
You might be leaving money on the table by ignoring "hidden" tax credits. From claiming travel costs for medical appointments to the Multigenerational Home Renovation Tax Credit (MHRTC) for adding a suite for a parent, our latest guide covers the deductions that software often misses. Plus, we provide an important reminder that the detailed method (and T2200 form) is now required for all home office expense claims.
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Tax Season Checklist: What Slips Do You Actually Need?
Filing your taxes too early can often lead to headaches if you miss a slip that arrives late in March. To help you prepare effectively, we’ve compiled a comprehensive checklist of standard items like T4s and T5s, along with commonly missed deductions like medical receipts, digital news subscriptions, and childcare costs. Ensure you have everything you need before hitting "send" this tax season to avoid processing delays or adjustments.
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Relief for Trust Reporting: Bare Trusts Exempt for the 2025 Tax Year
Confusion has surrounded "Bare Trust" reporting for years, but there is welcome relief for the 2026 filing season. The CRA has confirmed that bare trusts—such as adding an adult child to a bank account for assistance or a parent co-signing a mortgage title—are exempt from filing T3 returns for the 2025 tax year. This change saves many Canadians from unnecessary paperwork and fees. Read our full update to understand exactly what a bare trust is, why this exemption matters, and how to stay prepared for future…
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Charitable Giving: How to Maximize Tax Benefits Before Year-End
Year-end is the perfect time to give back — and to plan your donations wisely. Learn how to maximize the tax benefits of charitable giving through strategies like donating securities, bundling gifts, and leveraging credits before December 31.
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Cryptocurrency and Taxes in Canada
Understand your crypto tax obligations — before the CRA does. Cryptocurrency transactions are taxable in Canada, whether you’re trading, staking, or mining. Our CPA team helps individuals and businesses across Canada report digital assets accurately, plan for tax efficiency, and stay ahead of CRA compliance.
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Financial Prep for Back-to-School: Tax Credits for Canadian Families
Heading into a new school year? From child care deductions to RESP planning and disability tax credits, Canadian families have access to valuable tax savings — if they know where to look. Let’s make back-to-school season a little easier — and more affordable.
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Understanding the GST Holiday
The holiday season just got better for Canadians! From December 14, 2024, to February 15, 2025, eligible purchases will be exempt from the 5% federal GST. Whether you are a consumer planning big purchases or a business preparing for increased demand, this GST holiday offers a unique chance to save and grow.
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Year-End Financial Planning Tips for Canadian Businesses and Individuals
As the end of the year approaches, it’s the perfect time to review your finances and make strategic adjustments that can boost savings, reduce taxes, and set you up for success in the coming year. For Canadian individuals and businesses alike, proactive year-end financial planning can make a significant difference. In this blog, we’ll cover key tips to help you maximize tax savings, optimize investments, and strengthen your financial health before the year wraps up. Let’s dive in!
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Teaching Kids About Money Financial Education Tips
Financial literacy is an essential life skill, yet it’s often overlooked in traditional education. At JMH, we believe that teaching children about money early on is key to their future success. In this blog, we’ll share practical tips to help you start your kids on the path to becoming financially responsible adults.
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