BELL CPA & Associates Business Advisory Group

HST Reviews: Are Your Filings Defensible?
We are seeing increased review activity from the Canada Revenue Agency regarding HST compliance.
Common issues include:
• Claiming ITCs without proper documentation
• Incorrect place-of-supply treatment
• Filing frequency errors
Many HST reviews are documentation-based.
Periodic internal reviews can significantly reduce audit risk.
If it has been more than a year since your last HST review, it may be worth revisiting.

Are You Maximizing Canada’s Small Business Deduction?
Many incorporated businesses qualify for the Small Business Deduction — but planning mistakes can reduce access.
Key factors to monitor:
• Passive investment income thresholds
• Associated corporation rules
• Salary vs. dividend strategy
• Timing of year-end transactions
Strategic planning before fiscal year-end can significantly impact total corporate and personal tax.
Tax filing reports the past.
Tax planning shapes the future.
If you would like to review your corporate structure and tax strategy, we would be pleased to schedule a planning discussion.

Governance and financial oversight are crucial for not-for-profits and charities. The Canada Revenue Agency stresses the importance of timely T3010 filings, transparent use of restricted funds, proper receipting practices, and clear board documentation. Late filings or reporting errors can jeopardize your organization's compliance status, impacting its mission and directors. Strong financial reporting not only safeguards your mission but also protects your board. For organizations seeking support with year-end or filing obligations, expert assistance is available.

2026 Payroll Update: What Ontario Employers Should Review
At the beginning of each year, payroll thresholds, and contribution limits change.
For 2026, employers should confirm:
• Updated CPP & EI premium rates and annual maximums
• Updated WSIB rates
• Accurate payroll software settings
• Proper tracking of taxable benefits
Even small payroll setup errors can create remittance discrepancies and T4 amendments later.
A quick review now can prevent avoidable penalties.

Participating in Brampton's Coldest Night of the Year was a heartwarming experience for our firm. Supporting Regeneration, which provides vital services to those in need, aligns perfectly with our commitment to social responsibility and community engagement. A heartfelt thank you to all our generous donors who made a difference! Together, we’re building a stronger community.