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Personal Tax Filing Deadlines for the 2024 Tax Year

Tax season is here, and we want to ensure you are prepared with key dates and resources to file your 2024 tax return on time. Clearline CPA T1 Return Deadline To guarantee completion of your T1 Personal Tax Return by the April 30, 2025, deadline, all required documents must be received by April 15, 2025.…


3 min read

Capital Gains Tax Increase Deferred: What It Means for You

On January 31, 2025, the Canadian federal government announced a deferral of the proposed capital gains inclusion rate increase. Originally set to take effect on June 25, 2024, the change has now been postponed to January 1, 2026. Background on the Proposed Changes In April 2024, the government proposed increasing the capital gains inclusion rate…


3 min read

CRA Moving to Online Mail for Business Correspondence in 2025

The Canada Revenue Agency (CRA) has announced that starting in spring 2025, most business tax notices and correspondence will be delivered exclusively through My Business Account instead of traditional mail. The announcement was as follows: “Starting in the spring of 2025, the CRA will transition to online mail as the default method of delivering most…


3 min read

BC Home Flipping Tax: What You Need to Know

The British Columbia government is introducing the BC Home Flipping Tax, effective January 1, 2025. This tax is designed to discourage rapid property turnovers that may contribute to rising housing costs by taxing profits from the sale of residential properties held for less than two years. Key Features of the BC Home Flipping Tax Who…


4 min read

Extension of 2024 Charitable Donations: What You Need to Know

What Is the New Charitable Donations Deadline? Typically, charitable donations must be made by December 31 to qualify for tax deductions in that tax year. However, under special circumstances – such as economic challenges, natural disasters, or legislative changes – the government may grant an extension. To provide additional flexibility this year, the Department of…


3 min read

Clearline CPA Celebrates the Expansion and Renovation of Vancouver Office

Clearline CPA is excited to unveil the newly renovated and expanded Vancouver office, a significant milestone in our commitment to providing exceptional service to clients and fostering a collaborative, modern workspace for our growing team. Initiated in late 2023, the renovations were designed to enhance both functionality and aesthetic appeal. The expanded office space reflects…


1 min read