AQG Accounting and Tax services

Tax season doesn’t have to be stressful.

With AQG Personal Tax Services, you can file your taxes your way - online, in person, or simply by uploading your documents and letting the experts handle the rest. Fast, accurate, and designed to help you maximize your return.

Get it done right the first time. Reach out to us at AQG Accounting and Tax Services today.

https://aqgl.ca
(519) 621-9965

Hello December Year-end Corporation!!

Tax Deadlines Are Approaching - Are You Ready? 🚨

Missing a corporate tax, payroll, or HST deadline can lead to penalties, interest, and unwanted CRA attention.

Here’s what business owners need to stay on top of ⬇️

📌 Corporate Tax (T2)
✔️ Due 6 months after your fiscal year-end
✔️ Balance owing often due 2–3 months after year-end

📌 Payroll (PD7A)
✔️ Remittances due monthly, quarterly, or accelerated
✔️ Late payroll filings = penalties + interest

📌 HST/GST
✔️ Filing frequency: monthly, quarterly, or annually
✔️ Missed filings can delay refunds and trigger audits

At AQG Accounting & Tax Services, we help businesses stay compliant, organized, and stress-free so you can focus on growing your business.

✅ Deadline tracking
✅ Accurate filings
✅ CRA-ready support

📞 Book your consultation today
📩 DM us to get started

See our Personal Income Tax Checklist – Canada

Filing your personal tax return? A complete checklist helps ensure accuracy and maximizes eligible credits.

✔ Employment & investment income slips
✔ RRSP & FHSA contributions
✔ Medical, tuition & childcare expenses
✔ Work-from-home or employment expenses

CPA-reviewed filings. CRA-compliant.
📩 Contact us to get started.

Canadian Personal income tax checklist – AQG | Canadian Tax Experts

Let’s break down BUSINESS EXPENSES and what you need to know.

Not sure if your home office, vehicle, meals, or subscriptions are deductible? Claiming expenses incorrectly can trigger CRA reviews—or leave money on the table.

We help business owners:
✔ Claim expenses properly
✔ Stay audit-ready
✔ Keep more of what they earn

👉 Book a consultation today or Call us 519-621-9965.

Let’s break down BUSINESS EXPENSES and what you need to know. – AQG | Canadian Tax Experts Owning a business in Canada comes with valuable tax advantages, including the ability to deduct eligible business expenses. However, determining what qualifies, and what doesn’t, isn’t always straightforward. These are some of the most common questions I hear from business owners:

Top Canadian Tax Highlights for 2025–2026

1. Federal Personal Tax Relief
Effective July 1, 2025, the lowest federal income tax rate will drop from 15% to 14%, providing meaningful relief for middle-income earners—up to C$840 annually for dual-income households.

2. Capital Gains Policy Deferred
The planned increase in the capital gains inclusion rate (from 50% to 66.67%) has been postponed until January 1, 2026. Key exemptions remain intact, including the Principal Residence Exemption and the $1.25M lifetime capital gains exemption, which continues to support small business owners and sellers.

3. Simplified CRA Filing
The CRA is rolling out automatic tax filing for eligible Canadians. Pre-filled returns will allow individuals to confirm or opt-out—making life easier for those with straightforward tax situations.

4. CPP & RRSP Contribution Updates
The CPP maximum earnings threshold (YMPE) is rising to C$71,300, with the new second tier (YAMPE) set at C$81,200.
The RRSP contribution limit is increasing to C$32,490, while the TFSA limit remains unchanged at C$7,000.

5. CRA Digital Upgrades
Major improvements have been made to CRA’s digital services, including streamlined navigation, better messaging, optional email updates, and enhanced electronic filing standards with improved validation tools.

Why This Matters
✅ Lower income tax rates mean more disposable income for Canadians.
✅ The capital gains delay provides a planning window for investors and business owners.
✅ Automatic filing helps reduce tax stress and improve compliance.
✅ Higher contribution limits give Canadians greater retirement savings flexibility.
✅ CRA’s digital upgrades empower businesses with smoother reporting and stronger control.

🔹 Want to stay ahead of these changes?
AQG is here to help you stay compliant, future-ready, and financially optimized.

Follow us for timely Tax and CRA Updates

Ibrahim Qul

Average Tax Bill for the Average Canadian is approx. 42%. Since 1961 to 2024, Canada household Tax Bill has gone up approx. 2784% on the average Canadian household, outstripping all single item household expenditures."

Source: Fraiser Institute.

Let’s face it—Canada’s tax system is holding us back. Overly complex, stuck in the past, and ill-suited to attract the investment and innovation we need, it’s time for a change.

Ireland chose a smarter approach: streamlined rules, competitive rates, and a business-friendly environment that fuels growth.

Now, with Prime Minister Mark Carney committing to a full review of Canada’s corporate tax system, we have a golden opportunity to follow that lead.

This isn’t about imitation—it’s about adopting what works.

Want to see how corporate tax reform could unlock Canada’s potential? Read the full case for change here: https://www.cpaontario.ca/insights/blog/learning-from-ireland