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.
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Can my spouse be a shareholder of my MPC in Ontario?
Yes. Business Corporations Act (Ontario) s. 3.2(4) permits an Ontario Medical Professional Corporation to issue non-voting shares to the physician’s spouse, child (of any age), or a trust for a…
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How does the small-supplier HST rule apply to a new practice?
Under Excise Tax Act s. 148, a health-service or dental practice with total worldwide taxable revenues below $30,000 over four consecutive calendar quarters is a small supplier and is not…
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What’s the tax treatment of practice goodwill I sell?
Since the 2017 removal of the eligible-capital-property (ECP) regime, goodwill is depreciable Class 14.1 property under Regulation Schedule II. On disposal, the seller reports (a) full recapture of any CCA…
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Can my medical corporation own my professional building?
Technically yes, but usually not the right structure. The tax and asset-protection standard is: a separate real estate Holdco owns the building and leases to the Medical Professional Corporation on…
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Do I need a separate corporation for my locum work?
Usually no. An Ontario physician’s locum billings can generally flow through the physician’s existing MPC provided the host clinic’s or hospital’s payment arrangement accepts the MPC as the billing entity….