JMH & Co.

Attention Alberta business travellers and fleet managers! 🚗🏨

Alberta’s Tourism Levy on hotels and short-term accommodations officially jumped to 6% on April 1, 2026—and a new 6% passenger vehicle rental tax takes effect on January 1, 2027.

If your team frequently travels across the province for field operations, consulting, or medical rotations, here is what you need to know:
✅ Lodging and rental fees remain 100% tax-deductible corporate expenses.
⚠️ Provincial levies cannot be claimed as GST Input Tax Credits (ITCs)—receipts must be itemized properly.

Learn how to adjust your expense tracking and protect your bottom line in our latest guide! 👇

🔗 https://www.jmhca.com/resources/corporate-travel-alert-managing-albertas-new-tourism-vehicle-rental-taxes

⏰ Selling your business in the next 3 to 5 years?

🛑 Don't let excess cash in your corporation cost you a $1.275 million tax exemption!

To claim the Lifetime Capital Gains Exemption (LCGE) in Canada, your business must pass strict active asset tests—both on the exact day of the sale and for the 24 months prior. If you hold passive investments, non-active real estate, or surplus cash in your company, you might need to "purify" your corporation right now so you don't miss out.

Check out our latest blog on how to properly prep your balance sheet for a tax-free exit: https://www.jmhca.com/resources/purifying-corporation-tax-free-exit

👋 Say goodbye to the GST/HST credit and hello to the CGEB!

📈 Starting this July, the Canada Groceries and Essentials Benefit officially takes over, bringing a 25% payment increase for eligible individuals and families over the next five years.

Even if your taxable income is zero, filing your tax return is the ONLY way to get these quarterly payments. Don't leave money on the table!

Read our latest blog to understand the transition, the new payout schedule, and how to ensure you receive your maximum benefit.

🔗 https://www.jmhca.com/resources/goodbye-gsthst-credit-hello-cgeb-understanding-transition

🚨 Locked out of your CRA account? The Canada Revenue Agency has gone full digital! 🚨

Starting this season, having a backup Multi-Factor Authentication (MFA) option on file is mandatory to maintain access to your CRA portals. On top of that, physical paper drop boxes are permanently closed, and Notices of Assessment (NOA) have officially shifted to a digital-only format within "My Account."

Don't get caught off guard when you need your tax information most. Head over to our latest blog post to learn how to update your security settings, use the CRA's new 24/7 GenAI chatbot, and keep your tax profile fully secure.

👉 https://www.jmhca.com/resources/locked-out-how-navigate-cras-strict-new-digital-security-rules

💥 Big news for Alberta entrepreneurs!!

🚀 Alberta Innovates recently announced a $14M investment (generating nearly $48M with partners) to strengthen the province’s commercialization ecosystem.

🌾⚙️ If you're an SME in AI, aerospace, advanced manufacturing, or agri-tech, new doors are opening to help you scale and bring your tech to market.

💡 Check out our latest blog to learn how local startups and agricultural clients can leverage this expanding funding landscape alongside smart tax strategies (like SR&ED!) to fuel growth: https://www.jmhca.com/resources/multi-million-dollar-boost-alberta-innovators-what-it-means-your-business

Using ChatGPT for tax advice?

🛑 Think twice.

Recent data shows over 75% of accountants are spotting regular errors from clients relying on AI for bookkeeping and tax planning. From mixing up Canadian and U.S. tax rules to misinterpreting business expenses, these mistakes can lead to heavy CRA penalties. The CRA won't give you a pass for bad AI advice!

⭐️Treat AI as a starting point for research, but always trust a qualified CPA for your actual filings.

Read our latest article on the risks of AI in business accounting: https://www.jmhca.com/resources/risks-relying-ai-business-bookkeeping-and-taxes

Welcome back, Snowbirds! ☀️🌵

Did you count your days in the U.S.?

The IRS uses a 3-year formula to determine residency. If you spent a lot of time south of the border, you might need to file IRS Form 8840 by June 15th to avoid U.S. taxes on your Canadian income.

Learn about the Substantial Presence Test in our new blog: https://www.jmhca.com/resources/snowbirds-returning-home-us-substantial-presence-test

Deadline Update!

🚜 The AgriStability enrollment deadline is back to April 30.

🛑 But CAUTION: If you are self-employed, your TAX PAYMENT is still due April 30th, even if you file in June. Don't get caught by the interest trap!

Read our full guide on managing these dates: https://www.jmhca.com/index.php?cID=404&ctask=check-out&ccm_token=1776787581:ad7baa15c98c465b1f7be2df710fad07

📄✂️ The Underused Housing Tax (UHT) has been repealed for the 2025 tax year.

🎉 This is great news for partnerships, trusts, and corporations holding residential property.

⭐ Note: Provincial taxes in BC/ON may still apply, and past years (2022-2024) may still need attention.

Get the full scoop on our blog: https://www.jmhca.com/resources/good-news-property-owners-underused-housing-tax-uht-repeal

🚑 Did you travel for medical care?

🏡 Add a suite for Mom or Dad?

You might be eligible for valuable tax credits like the MHRTC (up to $7,500!) or detailed medical travel expenses.

⭐️ Also—heads up that the flat-rate home office claim is gone! You now need detailed receipts.

Get the details in our new blog.