Federal and Ontario corporate tax rates for 2026, including the July 1 cut to Ontario’s small business rate, the $500,000 business limit, the passive income grind and T2 deadlines.
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Canadian Tax and Accounting Guides
Practical guides to Canadian personal and business tax, bookkeeping, payroll, GST/HST and dealing with the CRA, written for Ottawa individuals and small business owners by the team at BBA Tax. Need help with your own situation? Book a free intro call.
Latest Articles
Income Splitting in Canada: What Still Works in 2026
Income splitting still works in Canada, but only through specific routes. Here are the 2026 rules for pension splitting, spousal RRSPs, prescribed-rate loans, family salaries and TOSI.
How to Calculate and Report Payroll Remittance in Canada
Managing payroll remittances is a crucial responsibility for Canadian business owners. Ensuring accurate payroll deductions and timely remittances to the Canada Revenue Agency (CRA) helps businesses remain compliant with tax regulations and avoid penalties. This guide...
Dividend Tax in Canada: How Dividends Are Taxed in 2026
Canadian dividends are grossed up, then reduced by a dividend tax credit. Here are the 2026 federal and Ontario rates for eligible and non-eligible dividends, a worked example, and what changes in 2027.
Year-End Tax Planning Strategies for Canadian Business Owners
As the year comes to a close, Canadian business owners must take proactive steps to ensure their financial affairs are in order and that they optimize their tax situation. Effective year-end tax planning can help minimize tax liabilities, maximize deductions, and...
Step-by-Step Guide to Filing Personal Taxes in Canada
Filing your personal taxes in Canada is an essential financial responsibility for all individuals. Whether you're an employee, self-employed, or a student, understanding the process of tax filing can help you maximize deductions, claim eligible benefits, and avoid...
Step-by-Step Guide to Filing Corporate Taxes in Canada
Filing corporate taxes is a critical responsibility for businesses in Canada. Whether you’re a small business owner or managing a large corporation, navigating the Canada Revenue Agency’s (CRA) corporate tax filing requirements can be complex. However, understanding...
What Happens If I Don’t Pay My Taxes in Canada?
Paying taxes is a legal obligation for individuals and businesses in Canada. Failing to pay taxes or file tax returns on time can lead to severe consequences, including financial penalties, interest charges, legal action, and damage to your credit score. For many,...
CRA Tax Reporting Requirements for Corporations and Sole Proprietors
Navigating tax filing and reporting requirements can be overwhelming for businesses in Ontario, whether you operate as a sole proprietor or a corporation. The Canada Revenue Agency (CRA) has distinct obligations, deadlines, and processes for each business structure....
What is the Difference Between Sole Proprietorship and Incorporation in Canada?
Starting a business in Canada often begins with one key decision: Should you operate as a sole proprietorship or incorporate your business? Each option has distinct advantages, disadvantages, tax implications, and legal considerations. Understanding these differences...
The Difference Between Corporate and Personal Taxes: A Complete Guide
Navigating taxes can be challenging, especially when balancing both personal and corporate tax obligations. Understanding the distinctions between corporate and personal taxes is crucial for individuals and businesses alike, as each tax type has unique regulations,...
How to Successfully Handle Tax Returns as a Self-Employed Individual in Canada
As a self-employed professional in Canada, managing your tax return can feel complex and overwhelming, especially with the unique rules and deductions available only to self-employed individuals. With detailed guidance, however, you can approach tax season with...