Savvy Accounting & Business Services Inc.

To lower those huge taxes make sure you are claiming all you are allowed as your tax deductions

Bank of Canada reduces policy interest rate by 25 basis points to 2.25%.
🔗More info here: bit.ly/47eHSvf

The Canada-Alberta Productivity Grant is now open!

We’re helping employers boost efficiency, spark innovation and build a more competitive Alberta by supporting employer-driven training in high-demand
skills.

If you're ready to train your team in digital, technical or operational skills that drive real productivity — this is your moment.

See what the grant can do for your business and apply today: http://alberta.ca/CAPG

Principal residency or house flipping?

As promised, here are the suggested criteria that CRA is currently using to determine the taxation of the sale of multiple homes in Canada. It is important to coordinate the sale of any property that you feel matches one or more of these criteria with a qualified financial planning or tax professional.

The CRA acting as both tax filer and tax collector is a serious conflict of interest. The CRA wants to squeeze every penny from you. You can't trust the CRA with your wallet.

The CRA doesn't know how to pick up the phone. The CRA doesn't know how to give out correct information. Yet Carney thinks the CRA can file people's taxes? No automatic tax filing!

Here are the highlights on a bombshell Auditor General report just released about the CRA.

The Auditor General found that CRA “responses to general individual-tax questions were accurate only 17 per cent of the time.” That means the CRA gives Canadians the wrong answer to questions about their individual taxes 83 per cent of the time.

When people ask the CRA about business taxes, the CRA gives accurate information only 54 per cent of the time.

The Auditor General found that Canadians were only able to get a CRA agent on the phone 32 per cent of the time.

There were 4,547 employees working at call centres last year – an increase of 1,030 employees since 2019.

What your thoughts about it?

Take full advantage of your TFSA account first!

Canada’s Alternative Minimum Tax (AMT) rules are changing, and they could catch taxpayers who’ve never had to worry before.

💡 What’s changing in 2025:
• Higher tax rates on capital gains and stock options
• New limits on deductions and credits (including charitable donations)
• Broader impact on high-income earners and investors

The AMT ensures everyone pays a baseline tax, regardless of deductions or credits. With these updates, more Canadians (especially those relying on investments or strategic write-offs) could see bigger tax bills.

👉 Don’t wait until the next tax season. Test your exposure now, plan the timing of asset sales or donations, and build AMT into your 2026 tax strategy.