Marlene L. Grant Professional Corporation CPA, CGA

2026 First Quarter Newsletter Tax Tips and Traps -

Marlene L. Grant Professional Corporation Chartered Professional Accountant & Certified General Accountant We are an Ottawa (Nepean-Barrhaven) based Chartered Professional Accounting and Certified General Accounting firm that takes great pride in offering our clients the highest level of service which enable them to achieve their personal and business goals. We welcome new clients.

🚨 CRA Update for 2026!

Starting February 9, 2026, the CRA will no longer send Notices of Assessment (NOAs) through tax software.
Your NOA or reassessment will now be available only in your CRA online account after your return is processed.

Prefer mail? If your CRA settings are set to letter mail, your NOA will still be mailed to you.

The CRA has also updated Form T183, removing the option to receive a one‑time NOA through EFILE software.

Stay informed and stay ready for tax season.

https://www.canada.ca/en/revenue-agency/services/e-services/about-express-noa.html

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💰 Tax Tip Tuesday – CPP Contribution Changes

The final CPP enhancement phase means employees earning $81,200+ will each contribute $4,430 in 2025; self‑employed individuals will pay $8,860.

📌 Tip: Adjust payroll budgets and personal cash flow planning for higher contributions.

🌎 www.mlgpc.ca

🏦 Separate your business and personal bank accounts.

🩺 An internal audit is like a financial health check for your company.
🔍 It helps you spot and fix errors before they become serious issues.

🌎 www.mlgpc.ca

💡 Tax Tip Tuesday – Canada Disability Benefit

New support for eligible Canadians.

Up to $2,400 annually may be available for low‑income working‑age individuals with a disability.

📌 Tip: Confirm eligibility early and file your tax return promptly to secure benefits.

🌎 www.mlgpc.ca

📊 Understand the difference between financial statements such as the income statement and the balance sheet.

🧩 Income Statement vs. Balance Sheet: They complement each other like puzzle pieces but show different information.
💰 Balance Sheet: What you own and owe.
📈 Income Statement: Your profit or loss.

🌎 www.mlgpc.ca

👨‍👩‍👧 Tax Tip Tuesday – Related Employee EI Eligibility

Employment of a related individual is insurable only if terms match those offered to an arm’s‑length employee.

📌 Tip: Review employment arrangements with relatives to confirm EI premium and benefit eligibility.

🌎www.mlgpc.ca

👔 Tax Tip Tuesday – De Facto Director Liability

You can be personally liable for unremitted payroll and GST/HST if you act as a director — even after formally resigning.

📌 Tip: After resigning, cease all director‑like activities to avoid personal liability.

🌎www.mlgpc.ca

2025 Year End Tax Planning Newsletter -

Marlene L. Grant Professional Corporation Chartered Professional Accountant & Certified General Accountant We are an Ottawa (Nepean-Barrhaven) based Chartered Professional Accounting and Certified General Accounting firm that takes great pride in offering our clients the highest level of service which enable them to achieve their personal and business goals. We welcome new clients.

2025 Personal Income Tax Return Checklist -

Marlene L. Grant Professional Corporation Chartered Professional Accountant & Certified General Accountant We are an Ottawa (Nepean-Barrhaven) based Chartered Professional Accounting and Certified General Accounting firm that takes great pride in offering our clients the highest level of service which enable them to achieve their personal and business goals. We welcome new clients.

🏡 Tax Tip Tuesday – Real Estate: Income or Capital Gain?

🌎 www.mlgpc.ca

📊 Understand the difference between financial statements such as the income statement and the balance sheet.

🧩 Income Statement vs. Balance Sheet: They complement each other like puzzle pieces but show different info. 💰 Balance Sheet: What you own and owe. 📈 Income Statement: Your profit or loss.

🌎 www.mlgpc.ca