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At Ascensus CPA, I work with business owners, sole proprietors, freelancers, and self-employed individuals who run into the same problem over and over again: receipts pile up, supporting documents get scattered, and bookkeeping becomes more stressful than it should be. That is exactly why I created LedgerSlip . As a CPA, I built LedgerSlip to give business owners a simpler, more private, and more practical way to organize receipts and stay ready for bookkeeping and tax season

Tax rules change a bit every year, but most people do not need to know every technical detail. What matters is understanding how the changes affect your wallet, your tax return, and any credits you may be able to claim. For the 2025 tax year, the biggest items for most individuals are a small federal tax cut, normal inflation increases to tax brackets & credits, the B.C. renter’s tax credit, and the 2026 filing deadlines. What changed for 2025? The lowest federal tax rate was

Mining is a vital industry in Canada, contributing significantly to the economy. But tax compliance for mining can get complicated quickly—especially once you factor in mining-specific deductions, flow-through shares, and province-by-province mine taxes and royalty-style regimes. This guide covers the key concepts and practical steps to help you stay compliant and avoid surprises. Understanding Mining Tax Compliance in Canada Mining tax compliance means meeting the tax requir

If you run a service-based business in Canada—consulting, creative work, trades, coaching, online services—it’s only a matter of time before GST/HST comes up. Here’s a concise, CRA-aligned overview of when you must register , which services are taxable , and how the place-of-supply rules work when you bill clients in other provinces. 1. When do you have to register for GST/HST? The small supplier rule – the $30,000 threshold For most businesses, you must register when you a

Managing finances is a critical part of running a successful business. Whether you are just starting out or have been operating for years, having the right tools can make a significant difference. Accounting software designed for small firms can simplify your financial tasks, save time, and reduce errors. In this post, I will share insights into the best accounting software options available for Canadian small businesses. I will also explain what features to look for and how

Status (Jan 1, 2026): Proposed in Budget 2025 and included in Bill C-15; Bill C-15 is currently at House committee stage (not yet enacted). If enacted, it would apply to taxation years beginning after Nov 4, 2025. Canada’s 2025 federal budget may bring one of the most significant changes to corporate transfer pricing in decades. The rules may reshape how CRA reviews related-party cross-border transactions — especially for companies with foreign subsidiaries, including resourc

The federal government introduced new anti-deferral rules in Budget 2025 to address certain timing advantages involving inter-corporate dividends within private corporate groups. These rules have now been enacted through Bill C-15. In simple terms, the new rules are meant to prevent one corporation from receiving a dividend refund early while the related tax within the group is pushed off to a later date because of different corporate year-ends. The Issue the Government Was T

On December 15, 2022, significant legislative amendments were made to Section 231 of the Income Tax Act, expanding the CRA’s authority by...

Shareholder loans can be a useful tool for providing flexibility in accessing corporate funds. However, they come with strict rules and potential tax consequences if not managed correctly. Below are the key points to keep in mind: Understanding Shareholder Loans Definition A shareholder loan is money provided by a corporation to its shareholder, often used for business or personal purposes. These funds must generally be repaid to avoid adverse tax consequences. Purpose They c

If you’ve been hearing mixed messages about “capital gains changes,” you’re not alone. The inclusion-rate increase was proposed, then delayed, and later reversed—so a lot of older articles (and hallway chatter) are now out of date. Status update (as of Jan 1, 2026) The federal government announced it does not intend to proceed with the proposed increase to the capital gains inclusion rate, and CRA guidance reflects that the proposed increase was cancelled . The capital gains