When can I deduct a bad debt from a former client?
Under Income Tax Act s. 20(1)(p), you can deduct a bad debt in the tax year you establish that it has become uncollectible, provided the debt was previously included in…
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Can my Ontario tech startup claim SR&ED on employee wages?
Yes. An Ontario tech CCPC can claim Scientific Research and Experimental Development (SR&ED) tax credits on the proportion of an employee’s salary devoted to eligible R&D under ITA s. 37…
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How to Preserve Your CCPC Small Business Deduction — 8 Steps (2026)
8-step 2026 SBD preservation playbook: passive income under $50K, associated corporation grind, active business income test, Ontario boost to $700K.
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What’s the SR&ED refundable rate for a CCPC in Ontario for 2026?
For 2026, a qualifying Canadian-controlled private corporation (CCPC) in Ontario earns 35% federal refundable Investment Tax Credit on qualifying SR&ED expenditures up to the $6 million expenditure limit (ITA s….
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How do I handle construction holdbacks in my Ontario company’s books?
Under the Ontario Construction Act (RSO 1990 c. C.30 as amended by the 2019 modernization) a 10% holdback is required on progress payments to protect subcontractors and lien claimants. For…
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What CCA class applies to a commercial rental property in Canada?
A commercial rental building acquired after March 18, 2007 that is used at least 90% for non-residential purposes is Class 1 at an accelerated 6% CCA rate under Regulation Sch…
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How to Claim Your Home Office Deduction Correctly — 5 Steps (2026)
The 2026 home office deduction guide for Ontario employees and self-employed: T2200 detailed method, workspace percentage, eligible expenses, and CRA audit prep.
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Can I set up a PREC as an Ontario realtor?
Yes. Since October 1, 2020, Ontario Regulation 536/20 under the Real Estate and Business Brokers Act (REBBA) permits a Realtor registered with the Real Estate Council of Ontario (RECO) to…
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When does rental income become active business income in Canada?
Under ITA s. 125(7) definition of ‘specified investment business,’ a corporation’s rental income is treated as active business income (SBD-eligible) only where the corporation employs more than five full-time employees…
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How to Optimize Your Vehicle Deduction — 6 Steps (2026)
2026 vehicle deduction optimization for Ontario owner-managers: personal-owned vs corporate-owned, CCA class 10.1 and 54 ceilings, standby, and 34¢ operating benefit.