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Canadian tax news and updates
CRA developments, and regulatory updates that impact individuals, business owners, and organizations across Canada. Rather than headline-driven commentary, we focus on what matters—how changes affect compliance, planning, and decision-making.
Timely Tax Updates That Matter to Businesses and Individuals
The Canadian tax landscape is constantly evolving. At VanTax Accounting Services, our Canadian Tax News & Updates page provides timely, practical insight into tax changes, Our updates are curated and reviewed through a professional lens to help clients stay informed and prepared.
Key Canadian Tax & Regulatory Updates
Federal & Provincial Tax Changes
Updates on income tax, corporate tax, and indirect tax changes at both federal and provincial levels, including legislative amendments and budget announcements.
CRA Administrative Updates
Key CRA announcements, filing requirements, deadlines, audit trends, and administrative guidance that affect personal and corporate taxpayers.
Personal Income Tax Developments
Changes impacting T1 personal tax filings, credits, deductions, residency considerations, and individual compliance matters.
Corporate & Business Tax Updates
Insights into T2 corporate tax changes, compliance requirements, information returns, and issues affecting owner-managed and growing businesses.
GST / HST / PST Updates
Developments related to indirect taxes, including registration rules, reporting requirements, audits, and compliance trends.
Cross-Border & Non-Resident Tax
Updates affecting non-residents, foreign income reporting, treaty matters, and cross-border business activities involving Canada.
Practical Insight, Not Just Headlines
Our goal is to translate complex tax developments into clear, actionable insight. Each update is reviewed with a focus on:
- Who is affected
- What has changed
- When action may be required
- How to stay compliant or plan ahead
Where appropriate, we highlight planning considerations and compliance implications relevant to businesses and individuals.
Need Guidance on a Tax Update?
Tax changes can have real financial consequences. If a recent update affects your personal or business tax situation, VanTax Accounting Services can help you assess the impact and determine the appropriate next steps.
Contact us today to discuss how current tax developments may apply to your situation.
Federal Income Tax Rate & Benefit for 2025 & 2026
- Effective July 1, 2025, the federal government reduced the lowest personal income tax rate from 15% to 14%.
- As a result of the mid-year implementation, the effective blended rate for the 2025 tax year is 14.5%.
- Beginning in 2026, the full 14% rate will apply for the entire year to income in the lowest federal tax bracket.
This reduction is expected to benefit lower-income Canadians by decreasing overall tax payable, allowing individuals to retain a greater portion of their earnings through increased take-home pay or lower year-end tax obligations.
Updated Tax-Filing & Voluntary Disclosure Rules (Important for Businesses & Freelancers)
As of October 1, 2025, the Canada Revenue Agency (CRA) has updated its Voluntary Disclosures Program (VDP), which allows taxpayers to correct past filing mistakes or omissions.
This is significant for businesses, self-employed individuals, and anyone with complex filings (cross-border, investments, GST/HST) — timely corrections can now be done under the updated framework.
Changes in Corporate & Business-Tax Rules
The 2025 Budget proposes major revisions to transfer pricing rules under the Income Tax Act. These changes aim to align Canadian transfer pricing regulations with international standards (OECD Guidelines), affecting cross-border transactions and multinational entities.
For businesses that operate across borders, invest internationally, or hold complex structures, this means additional compliance requirements — documentation, reporting, and proper pricing under “arm’s-length” standards.
Additionally, the budget includes temporary “immediate expensing” provisions for qualifying manufacturing/processing buildings — allowing businesses to deduct 100 % of eligible building costs in the first year of use (if 90 % of floor space is used for manufacturing/processing).
What This Means for You (as a Client of VanTax)
If you’re an individual taxpayer (employee, contractor, owner), the reduced tax rate and updated credits may lower your overall tax — we can help you assess exact savings.
If you run a small business or corporation, we can guide you through the new transfer-pricing rules and help ensure compliance.
If your accounting is behind, or you fear prior errors (especially for GST/HST, cross-border income, etc.), the updated VDP is a good opportunity to clean up — we can assist you there.
For businesses planning expansions, capital investments, or property purchases: the “immediate expensing” provisions could offer meaningful tax benefits.
Stay Ahead — What to Do Next
If you want to take advantage of these updates, or if you’re uncertain how changes affect you (personal tax, corporate filings, GST/HST, investment, or payroll), get in touch. We at Westmark can run a quick review of your financials — personal or business — and propose a tailored tax strategy.
