Ask the CPA

Ontario employers hiring in the province can access: (1) the Ontario Co-operative Education Tax Credit up to $3,000 per qualifying co-op placement, (2) provincial and federal Apprenticeship Job Creation Tax…

Under Income Tax Act s. 12(1)(z.7) (in force since January 1, 2023), a residential property sold after being owned for less than 365 consecutive days is deemed flipped and the…

New residential purpose-built rental construction is Class 1 at 4% declining balance. New commercial construction is Class 1(a.1) at 6%. First-year enhancements under the Accelerated Investment Incentive (AII) apply to…

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…

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…

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 $3 million expenditure limit (ITA s….

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…

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…

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…

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…