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25
May
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The Small Business Deduction: How the $500K Limit Works

If you run an incorporated business in Canada, the small business deduction (SBD) is one of the most valuable tax provisions available to you. It allows Canadian-controlled private corporations (CCPCs) to pay a significantly lower rate of tax on their active business income — but only up to a certain threshold. That threshold is $500,000, […]
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19
May
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Voluntary Disclosure Program: Coming Clean Before the CRA Finds You

If you have unfiled tax returns, unreported income, or foreign assets you never disclosed, you are not alone — and you may have more options than you think. The Canada Revenue Agency’s Voluntary Disclosure Program (VDP) exists precisely for situations like yours. Used correctly, it can mean the difference between a manageable resolution and a […]
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27
Apr
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Tax Planning When Buying a Second Property in Canada

Buying a second property—whether as a rental, vacation home, or long-term investment—can be a powerful wealth-building move. But from a tax perspective, it’s also where many costly mistakes happen. The Canadian tax system treats second properties very differently from your principal residence, and the consequences affect everything from annual deductions to your eventual exit strategy. […]
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20
Apr
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Late Tax Filing in Canada: The Real Consequences Most People Ignore

Most Canadians understand that filing taxes late isn’t ideal. What many don’t fully appreciate, however, is how quickly a “small delay” can turn into a compounding financial problem—one that affects not just penalties, but interest, benefits, credit, and even future interactions with the CRA. As a CPA working with individuals and business owners across Canada, I’ve […]
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13
Apr
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Late Filing Penalties Eliminated: Step-by-Step Breakdown

For many taxpayers—individuals and corporations alike—late filing penalties represent one of the most avoidable yet frequently incurred costs in the Canadian tax system. Whether due to cash flow constraints, administrative oversight, or misunderstanding of filing obligations, these penalties can compound quickly and materially impact financial outcomes. In recent years, the Canada Revenue Agency (CRA) has […]
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Recent Posts

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25 May 2026

The Small Business Deduction: How the $500K Limit Works

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19 May 2026

Voluntary Disclosure Program: Coming Clean Before the CRA Finds You

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11 May 2026

Corporate Tax Deadlines Every Business Owner Should Know

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27 April 2026

Tax Planning When Buying a Second Property in Canada

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Contact With Us!

 347 Jane Street, Toronto, ON M6S 3Z

Call us: 647-786-5810

Mail:sandeep@multanitax.ca