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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The 2026 TFSA Limit is Here: Are You Maximizing Your $7,000?
The 2026 TFSA contribution limit has officially been set at $7,000, increasing the total lifetime room for eligible Canadians to $109,000. This update explores strategies for utilizing your contribution room effectively, from checking your CRA My Account to balancing short-term emergency funds with long-term investment growth.
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CRA Ends Automatic Mailing of Tax Packages
The Canada Revenue Agency has announced that for the 2025 tax season, they will no longer automatically mail income tax packages to paper filers. Standard physical packages will now exclude essential forms, including Schedule 3 for Capital Gains and Schedule 9 for Donations. This shift toward digital-first filing requires taxpayers to be proactive to ensure no forms are missed. Read our latest article to understand how these changes impact your filing strategy and how our firm can help you navigate the new…
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Rethinking Retirement Income: Does It Make Sense to Accelerate Your RRIF Withdrawals?
In our latest blog, the JMH & Co. team explores a contrarian strategy: accelerating your RRIF withdrawals. We look at when it makes sense to voluntarily pay tax sooner to potentially reduce your lifetime tax bill and protect your OAS.
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How Government Deficits Impact Canadians
A clear, balanced look at both the benefits and risks of government deficits—and what they mean for your taxes, borrowing costs, and long-term financial planning. Learn how deficits can support economic growth, why they may lead to higher interest rates and inflation, and what individuals and business owners can do to protect their finances.
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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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The CRA’s Voluntary Disclosure Program Overhaul
Unlock the revamped VDP: As of October 1, 2025 the CRA’s Voluntary Disclosures Program has been refreshed to offer clearer rules, broader access and stronger relief for taxpayers seeking to voluntarily correct past errors. Whether you’re an individual with unreported income, a business with GST/HST exposures, or a corporation with foreign-asset disclosures, we help you navigate the updated process and position your disclosure for the best outcome. Don’t wait until enforcement begins — take action now to…
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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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Do You Need a Will? Understanding Informal Wills in Alberta
A will doesn’t have to be complicated. In Alberta, even a handwritten note can be legally valid—but is that the best way to protect your final wishes? Our latest blog breaks down what a will is, the different types (formal, holograph, and military), who carries them out, and why having one matters. Whether you’re planning your estate now or just curious about your options, we’ll help you understand how to make sure your assets are handled the way you want.
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Tax Tips for Real Estate Investors as the Fall Market Heats Up
The fall market is a prime time for Canadian real estate investors—but tax planning shouldn’t take a back seat. From maximizing deductions and accelerating expenses to structuring ownership and planning for flips, proactive tax strategies can save you thousands. Let’s explore!
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