iTRUST Financial Group

CRA Increasing Audits of High-Net-Worth Individuals & Related Entities. The Canada Revenue Agency (CRA) has significantly expanded its audit approach for high-net-worth individuals and families.

These audits now go beyond personal tax returns. The CRA is reviewing entire networks of related entities — including corporations, trusts, partnerships, and family members — to assess overall compliance.
🔎 What this means:
• Broader and more detailed audits
• Requests for extensive financial documentation
• Review of reorganizations and tax planning strategies
• Possible lifestyle and bank deposit analysis
• Increased use of technology and international data sharing
• Longer audit timelines

The burden of proof rests with the taxpayer. Incomplete or delayed responses can result in penalties.
📂 Key Takeaway:
Strong record-keeping, transparent reporting, and proactive compliance are more important than ever.
If you or your family operate through corporations, trusts, or complex structures, it is wise to ensure your documentation and reporting are fully in order.

At iTrust Financial Group, we assist clients in preparing for and responding to CRA reviews with clarity, structure, and professional guidance. If you have concerns or would like a compliance review, feel free to contact us.

📢 2025 Personal Income Tax Return Filing Reminder
RRSP contribution deadline (bank deposit or RRSP loan/deposit) is Monday, March 2, 2026.

⏳ Don’t wait until the last day.
✔️ Our suggested target date: Wednesday, February 25, 2026 or earlier.

Plan ahead and file smart! 💼📑

📘 BARRIE! Tax season is here!!

Upcoming Schedule & WALK-IN Location:

Starting at 10:30 AM and ending at 6:00 PM.

March 2026:

Sunday March 15th
Sunday March 22nd
Sunday March 29th

April 2026:

Saturday April 11th

At the Barrie Best Western Plus Hotel [access by the parking lot side-door]
35 Hart Drive
Barrie, ON L4N 5M3

Accounting | Tax | Advisory
📞 416-740-5413 | 905-282-0123
✉️ [email protected]
🌐

iTrust Financial Group Expert solutions for individuals and businesses.

iTrust Financial Group
📘 2025 Tax Season Bulletin (Filing in 2026)
Accounting | Tax | Advisory
Suite 36 – 2601 Matheson Blvd E, Mississauga, ON L4W 5A8
📞 416-740-5413 | 905-282-0123 | ✉️ [email protected]

📅 Key Filing Dates
• February 23, 2026 – CRA opens online filing
• April 30, 2026 – Filing deadline & payment due date
• June 15, 2026 – Filing deadline if self-employed (payment still due April 30)
• Assistance available for up to the last 10 years, where applicable.

🔐 CRA My Account – Authorize Us (Level 2 | No Expiry)
Authorizing us allows faster CRA communication and fewer delays.
1. Sign in to CRA My Account
2. Go to Profile → Authorized representative(s)
3. Select Add / Authorize my representative
4. Enter BN 809416472 (iTrust Financial Group)
5. Select Level 2 access
6. Set expiry to Does Not Expire
7. Review and confirm

📂 Quick Start – Send These First (PDF only)
• Tax slips received so far
• Changes to marital status or address
• RRSP / FHSA receipts
• Rent paid or property tax paid
• Medical & donation receipts
• Prior year Notice of Assessment (if available)
💡 RRSP & FHSA – Planning Matters
• RRSP contributions up to March 2, 2026 may be deductible
• FHSA contributions are deductible; qualifying withdrawals are tax-free
• Contact us early if unsure how much to contribute

🏢 Capital Transactions & Advisory Support
Please notify us if you sold investments, real estate, or business assets in 2025. We assist with investment planning, commercial transactions, valuation support, and CRA-compliant documentation.

📤 How to Send Documents
Email PDF documents (no photos) to [email protected]
• Send separate emails per person
• Include full name in the subject line

In-person appointments available in Toronto (Wed–Sat) and Barrie (Sundays, Mar–Apr).

Effective February 9, 2026, Notice of Assessment (NOA) and reassessment will be available for viewing exclusively in the Canada Revenue Agency (CRA) portals right after the CRA receives and processes the tax return.
If you do not have a CRA account or you set your preferences to letter mail, your notice of assessment and/or reassessment will be sent to the mailing address on file.

🔔 Tax Season Is Here – Take Action Early
Tax season is here (and for many, already started).
Before rushing to file, make sure your information is complete and accurate.

👉 Create or validate your CRA My Account / My Business Account
👉 Authorize iTrust Financial Group (BN: 809416472) as your CRA representative. Authorization Level 2, Not expiring.

This allows us to securely access available tax slips through CRA’s Auto-Fill (AFR) system — subject to what CRA has on file.

📌 Important reminder: CRA data is not always complete. Missing slips can lead to reassessments, penalties, and stress later.
✔️ Gather your income and expense documents thoroughly.
✔️ File right — not rushed.

📍 When accuracy matters, iTrust is the place to go.

📂 CRA Accounts & Authorization – A Must This Year
Going forward, CRA is relying more on digital access and authorizations.
To help you efficiently:
🔹 Set up / validate your CRA My Account or My Business Account
🔹 Authorize iTrust Financial Group (BN: 809416472) as your representative - Authorization Level 2, Not expiring.

This lets us:
✔️ Download available CRA tax data (AFR)
✔️ Monitor CRA correspondence
✔️ Help avoid missed slips and reassessments

📌 Authorization saves time, reduces errors, and protects you.
Let us handle CRA — so you don’t have to.

🤝 Why Clients Choose iTrust
Tax filing is not just about submitting a return — it’s about getting it right.
At iTrust Financial Group, we:
✔️ Guide you on CRA accounts & authorization
✔️ Use AFR responsibly (not blindly)
✔️ Help reduce reassessment risks
✔️ Focus on long-term compliance, not quick filing

📌 Whether personal, business, or self-employed — do it right the first time.
📞 Reach out early.
📍 iTrust Financial Group — trusted, practical, professional.

🎄✨ Wishing you and your loved ones a prosperous New Year 2026 filled with success, happiness, and financial peace of mind.
Here’s to a great year ahead! 🎉📊

Ontario running $75M anti-tariff ads in U.S. aimed at Republicans
Ad uses audio of former U.S. President Ronald Reagan speaking in 1987 about tariffs.

Ontario running $75M anti-tariff ads in U.S. aimed at Republicans | CBC News Ontario is spending $75 million to broadcast a new anti-tariff ad in the United States, aimed at Republican voters.

Ontario running $75M anti-tariff ads in U.S. aimed at Republicans
Ad uses audio of former U.S. President Ronald Reagan speaking in 1987 about tariffs.

Ontario running $75M anti-tariff ads in U.S. aimed at Republicans | CBC News Ontario is spending $75 million to broadcast a new anti-tariff ad in the United States, aimed at Republican voters.