Crosby Business and Tax Services Ltd.

CRA has just released a news update that the moratorium for Trucking companies to issue T4As has been lifted and now must issue T4As for amounts over $500 and it applies to the 2025 year not the 2026 year we are currently in. The newsletter released today February 20th - to avoid late filing penalties slips are due month end.

Compliance requirements for the trucking industry - Canada.ca Tax obligations for businesses operating in the trucking industry

Merry Christmas, everyone! From our families to yours !!

💡 The disability tax credit (DTC) can help reduce taxes for persons with disabilities or their caregivers, helping to cover some extra costs related to the impairment.

It's a non-refundable tax credit, making it a great way to reduce your tax burden.

If you live with a severe and long-term disability or care for someone who does, you could be eligible!

Get all of the details ➡️ https://ow.ly/MoRz50XvSJG

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🏡 Adding a secondary suite to house a loved one? There’s a tax credit that can help you with the cost of renovations. See if you qualify 👉 https://ow.ly/y6RW50XyMBf

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We’re improving our web content so you can find info easier, and without needing to call us. Check out the topics we’ve made changes to as part of out 100-day plan to improve service:

✅ tax-free savings accounts
✅Canada child benefit
✅registering a business
✅and more!

https://ow.ly/2sPR50XyHqE

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Attention employers!

The 2026 maximum pensionable earnings limits for the Canada Pension Plan (CPP) are out.

Also out: the 2026 second higher earnings limit to determine second additional CPP contributions.

Make sure you’re prepared: https://ow.ly/Oo8n50XyHvc

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Good news! Even if you forgot your CRA user ID or password, you may be able to register for a new credential online, no need to call us. This enhancement is part of our ongoing efforts to expand digital self-service options, in line with our 100-Day Service Improvement Plan.

Get your most recent tax return and multi-factor authentication (MFA) information ready. To help keep your account secure, your old credential will be removed. https://ow.ly/QBjh50Xl7Bw

If you have lost access to your MFA information or have had your account locked by the CRA, phone support remains available to assist you.

[Image description: The text “Regain access to your CRA account” next to the icon of a keylock.]

As part of our 100-day Service Improvement Plan, you must now register for your Business Number (BN) and CRA program accounts online when starting a business.

It’s quick, secure, and available 7 days a week.

✅ No waiting on hold
✅ No paper forms
✅ Instant confirmation

Get set up to collect GST/HST, pay employees and more, in just a few steps: https://ow.ly/1Ewg50Xozle

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Early Bird Tickets On Sale Grab yours now!

Parents: Students in your life could be eligible for education-related deductions or credits that can help reduce their taxes.

Some common ones include:

💰 tuition fees
📃 interest paid on student loans
📦 moving expenses (if they moved for school or work)

Other credits and deductions may also apply, depending on their circumstances. Find out what students can claim: https://ow.ly/ou2x50WOfcJ

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Are you a first-time home buyer? You may be eligible to open a first home savings account (FHSA) to help you save for your down payment! Learn how it works: https://ow.ly/3TBf50WkosI

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