Latest developments in Canadian and Quebec tax, accounting, and financial regulation — from credible official sources.
The CRA extended mandatory MFA for My Account business users to September 2025, citing accessibility concerns raised by tax professionals and smaller businesses.
The Bank of Canada maintained its overnight rate, citing inflation progress while monitoring global trade developments and Canadian housing market conditions.
New portal lets Quebec businesses file GST/QST returns, manage source deductions, and access assessment notices through a single digital dashboard.
Following the 2024 inclusion rate changes, CPA Canada published revised practitioner guidance on reporting the two-thirds inclusion rate for corporations and individuals.
The 2025 Federal Budget enhanced the Canadian Entrepreneurs' Incentive, expanded the Carbon Rebate for Small Businesses, and proposed AMT rule changes for high earners.
Updated Solidarity Tax Credit amounts for July 2025–June 2026 released. Maximum annual benefit reaches $2,160 for eligible single-person households qualifying for all three components.
CRA clarified First Home Savings Account reporting for 2024 — institutions must issue T4FHSA slips and taxpayers must report transfers on Schedule 15.
A CPA Canada survey of 1,200 SMEs reveals doubling adoption of AI-assisted bookkeeping year-over-year among businesses with 5–20 employees.