Tax information

2024

Personal tax season is just around the corner.  

Please note that we have increased our fees for the 2024 tax filing season. 

• T1 Basic Return $85.00

• T1 Basic and Spousal Return $140.00

• T1 Student or Senior Return $50.00

• T2125 Statement of Business Activities – Totals supplied $225

• T2125 Statement of Business Activities – Receipts supplied for us to total $375

• T777 Statement of Employment Expenses (incl. TL2 Drivers) $175

• T776 Statement of Rental Activities - $175

  This year we will be implementing a service charge for packages that are requested to be printed $5 and/or mailed $25. This is to encourage environmental sustainability by reducing the amount of paper our office uses.

We encourage everyone to provide us with their tax information as soon as possible so that we have adequate time to process the information and review your return for potential tax planning opportunities. 

Please note that we cannot guarantee timely completion of your tax returns unless we receive all of your information by April 10, 2025, at the latest. 

If your personal tax situation has changed significantly this year and you would like to review your information with us, please call or visit our appointment portal on our website to make an appointment with one of us.

We highly recommend the use of our firm’s client portal to send your information to us - TaxDome.  If you don’t already have a portal setup or have not received an invite, please contact us to have one set up for you.  If it’s not possible for you to send your information to us either by our client portal, by email, courier or Xpresspost (which provides a tracking number), please call ahead to let us know when you are planning to come so we know when to expect you.

  The deadline for RRSP contributions is March 3, 2025.  If you need assistance with how much to contribute to your RRSP, please contact us.

  The Tax-Free Savings Account (TFSA) contribution limit for 2024 is $7,000.  The benefit of a TFSA is that the income earned in this account is not subject to tax, assuming that you are not a U.S. citizen.    

  The Tax-Free First Home Savings Account (FHSA) annual contribution limit is $8,000 with a lifetime contribution limit of $40,000.  Annual contributions are tax deductible like an RRSP.  Investment income earned and withdrawals to purchase a first home are non-taxable, like a TFSA. 

  Trustees will be responsible for ensuring that the beneficial ownership information is reported in trust returns, where applicable. If you have an In Trust For account arrangement, please let us know.  As of this time, we are unable to complete T3 – Trust returns.  Bare trusts are exempt from T3 filing in for 2024.

  We appreciate your continued business and look forward to working with you in 2025.