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The Canada Disability Benefit is a new program that provides individuals between 18 and 64 years old support payments of $200 per month. This program started in June 2025 and is for those who have been approved for the Disabilty Tax Credit. For more information on how to apply, please go to Service Canada's site.
Click here for more information: 
https://www.canada.ca/en/services/benefits/disability/canada-disability-benefit.html
As of June 16, 2025, CRA is switching businesses over to receiving online mail. This means that most of your business-related mail from CRA will no longer be sent via Canada Post - this includes items such as source deductions forms and GST remittance vouchers. In order to view mail, you must create an online account with CRA.
This applies to all individuals and businesses who have a GST number, unless you have never registered an online CRA account for yourself or your business, and if you have never authorized an accounting firm to access your CRA information.
CRA is allowing individuals to opt out of online mail and stay on paper mail. In order to keep receiving paper mail, please fill out this form and mail it to CRA. This form must be submitted every two years to remain on paper mail. If you are a client of Friesen Accounting, we may start this process for you.
Note that if you do not take action, you may stop receiving paper mail which could result in you missing important notices and accumulating penalties and interest.
Visit CRA's website for more information.
NEW. The Canada Dental Care Program helps pay for a wide range of dental services. It is available for people of all ages. The amount of coverage is dependent on family income. Click here for more information.
The percentage of capital gains included in income is changing from 50% to 66% on June 25, 2024. UPDATE. The proposed change to the capital gains inclusion rate has been deferred to January 1, 2026. This means that for the 2024 tax year, all capital gains will be included at the 50% rate.
Under the proposed changes -
For individuals, the first $250,000 of capital gains will continue to be included in income at a rate of 50%. Beyond the $250,000, the rate will be 66%.
For corporations, the income inclusion rate will be 66% on the full capital gain.
Please contact us if you have questions, or click here to view CRA's website.
Invest up to $40,000 into an FHSA to save for a down payment on a home.
CRA has announced new filing requirements for Bare Trusts starting December 31, 2023. Please click here for more details.
UPDATE OCT9/24 - Bare trusts are exempt from filing requirements for 2023 and 2024.
The Underused Housing Tax (UHT) is an annual 1% tax on the ownership of vacant or underused housing in Canada that took effect on January 1, 2022. The tax usually applies to non-resident, non-Canadian owners. In some situations, however, it also applies to Canadian owners. UHT returns are due by April 30 each year with significant penalties for late filing even if there is no tax owing. *For the 2022 tax year, CRA has extended the filing deadline to April 30, 2024.*
OCT9/24 UPDATE - The Canadian government has made changes to filing requirements for 2023 and future years. These changes reduce filing requirements for corporations and partnerships.
Please refer to CRA’s site for more information.
CRA’s site for more information.ph 780 928 3277 email FAL96@telusplanet.net Friesen Accounting (1996) Ltd. 10013 -101 Ave Box 330 La Crete AB T0H 2H0