MACH Accounting

08/29/2026

08/15/2026

نافع الشمري posted images on LinkedIn

08/15/2026

03/31/2026

𝐌𝐢𝐝𝐝𝐥𝐞‑𝐂𝐥𝐚𝐬𝐬 𝐓𝐚𝐱 𝐂𝐮𝐭𝐬, 𝐑𝐞𝐩𝐞𝐚𝐥𝐞𝐝 𝐓𝐚𝐱𝐞𝐬 & 𝐍𝐞𝐰 𝐂𝐫𝐞𝐝𝐢𝐭𝐬

The 2025 budget delivers both relief and fairness measures. Here are three changes to know:

1. Middle‑class tax cut & top‑up credit – The first marginal personal income‑tax rate falls to 14.5% for 2025 and 14% starting 2026. To prevent the rate reduction from eroding the value of non‑refundable credits, a top‑up tax credit maintains a 15% credit rate on amounts above the first bracket.

2. Repeal of Underused Housing Tax (UHT) and luxury tax – The UHT, which applied to vacant or underused residential property owned by certain non‑residents, will be eliminated starting in the 2025 calendar year. The luxury tax on boats and airplanes ends after November 4 2025, though higher‑end vehicles remain subject.

3. Personal support workers (PSW) tax credit – Recognizing the essential work of PSWs, the budget introduces a temporary refundable tax credit worth 5 % of eligible earnings, up to $1,100 per year, for 2026‑2030. The credit does not apply to amounts earned in British Columbia, Newfoundland & Labrador or the Northwest Territories.

Other notable measures include closing a “double‑dipping” loophole that previously allowed simultaneous claims under the Home Accessibility Tax Credit and Medical Expense Tax Credit, effective January 1 2026, and cancelling the proposed Canadian Entrepreneurs’ Incentive while retaining the enhanced $1.25 million Lifetime Capital Gains Exemption.

𝐀𝐜𝐭𝐢𝐨𝐧: Homeowners should claim both the HATC and METC on qualifying renovations before the end of 2025. PSWs should track eligible earnings to maximize the new credit once it starts in 2026. For investors, the repeal of UHT and luxury taxes may alter the attractiveness of certain assets—discuss these changes with your advisor.

Contact us today to book a free consultation!
Visit us at machaccounting.com | Call us at +1-855-352-5191
Email us: [email protected]

Disclaimer:
This post is general information only and not tax advice. Feel free to save or share this, and contact us if you need assistance getting organized.

Previously Wharfhouse Business Services. Your partner in financial growth. Discover expert accounting, tax planning, and bookkeeping services at MACH Accounting. We provide personalized solutions for businesses and individuals, ensuring financial success through tailored strategies and modern tools.

03/30/2026

𝐓𝐫𝐮𝐬𝐭 𝐏𝐥𝐚𝐧𝐧𝐢𝐧𝐠 – 𝐀𝐧𝐭𝐢‑𝐀𝐯𝐨𝐢𝐝𝐚𝐧𝐜𝐞 & 𝐁𝐚𝐫𝐞 𝐓𝐫𝐮𝐬𝐭 𝐑𝐮𝐥𝐞𝐬

Estate and trust structures are under tighter scrutiny. The 2025 federal budget expands the 21‑year deemed disposition rule to include indirect transfers of property to another trust. Transfers after November 4 2025 will carry the original trust’s 21‑year clock into the new trust, preventing tax planners from resetting the clock through chain‑transfer strategies.

At the same time, the government deferred the new bare trust reporting rules to apply to taxation years ending after December 31 2026. Trustees have extra time but should prepare to report detailed information (names, addresses, dates of birth, residency and tax ID numbers) for settlors, trustees and beneficiaries.

𝐖𝐡𝐲 𝐢𝐭 𝐦𝐚𝐭𝐭𝐞𝐫𝐬:
• Indirect trust transfers that were previously used to defer capital gains will now trigger tax sooner. Existing trust arrangements should be reviewed to ensure they still meet succession and tax objectives.
• Bare trusts—common in real estate and business joint‑venture arrangements—will soon need to file T3 returns and schedules disclosing parties involved. Failure to file can result in substantial penalties.

𝐀𝐜𝐭𝐢𝐨𝐧: Families and businesses using trusts should consult with us before transferring assets between trusts, and begin gathering beneficiary and settlor information in anticipation of the new reporting regime. Proper planning now can avoid unexpected tax bills and compliance headaches later.

Contact us today to book a free consultation!
Visit us at machaccounting.com | Call us at +1-855-352-5191
Email us: [email protected]

Disclaimer:
This post is general information only and not tax advice. Feel free to save or share this, and contact us if you need assistance getting organized.

03/29/2026

𝐀𝐥𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐯𝐞 𝐌𝐢𝐧𝐢𝐦𝐮𝐦 𝐓𝐚𝐱 𝐂𝐡𝐚𝐧𝐠𝐞𝐬 – 𝐏𝐫𝐞𝐩𝐚𝐫𝐞 𝐟𝐨𝐫 𝐚 𝐇𝐢𝐠𝐡𝐞𝐫 𝐅𝐥𝐨𝐨𝐫

High‑income individuals and those making large charitable donations need to pay attention to the revised Alternative Minimum Tax (AMT) regime. Beginning in 2024, the AMT rate jumps to 20.5% from 15%, and the exemption increases to the fourth federal bracket threshold—$173,205 for 2024 and $177,882 for 2025.

𝐂𝐫𝐢𝐭𝐢𝐜𝐚𝐥 𝐜𝐡𝐚𝐧𝐠𝐞𝐬:
• Only 50 % of most deductions (employment expenses, moving expenses, child‑care expenses, interest and carrying charges, and loss carry‑overs) are allowed when calculating AMT.
• Donation tax credits are limited to 80 % of eligible amounts, and most other non‑refundable credits are allowed at only 50%.
• Flow‑through share deductions and provincial credits are also subject to AMT restrictions, potentially reducing the net benefit of resource investments.

𝐏𝐥𝐚𝐧𝐧𝐢𝐧𝐠 𝐢𝐝𝐞𝐚𝐬:
• Spread large charitable gifts over multiple years to optimize regular tax and AMT interactions.
• Review the timing of deductions (e.g., business investment losses, carrying charges) to avoid triggering AMT in a year with exceptional income.
• Use the 7‑year AMT credit carry‑forward strategically; unused AMT can be recovered in future years when regular tax exceeds AMT.

𝐀𝐜𝐭𝐢𝐨𝐧: Before exercising stock options, realizing capital gains or making large donations, run the numbers under both the regular tax and AMT to avoid surprises. Our team can model these scenarios and develop an optimal strategy for your situation.

Contact us today to book a free consultation!
Visit us at machaccounting.com | Call us at +1-855-352-5191
Email us: [email protected]

Disclaimer:
This post is general information only and not tax advice. Feel free to save or share this, and contact us if you need assistance getting organized.

03/28/2026

𝐁𝐢𝐠𝐠𝐞𝐫 𝐒𝐑&𝐄𝐃 𝐈𝐧𝐜𝐞𝐧𝐭𝐢𝐯𝐞𝐬 – 𝐄𝐧𝐡𝐚𝐧𝐜𝐞𝐝 𝐂𝐫𝐞𝐝𝐢𝐭 𝐋𝐢𝐦𝐢𝐭 𝐄𝐱𝐩𝐚𝐧𝐝𝐬 𝐭𝐨 $𝟔𝐌

Innovation pays. The 2025 budget expands the Scientific Research & Experimental Development (SR&ED) enhanced investment tax credit by raising the annual expenditure limit to $6 million for taxation years beginning after December 16 2024. This increases the pool of eligible R&D costs that can attract the enhanced 35% refundable credit available to CCPCs, up from the previous $3 million limit (the general credit rate remains 15%).

Key considerations:

• The $6 million limit must be shared among associated corporations. Plan R&D budgets to avoid splitting the benefit across multiple entities.

• Expenditures must be directly attributable to eligible R&D activities and documented contemporaneously. Robust project records, time sheets, and technical narratives are essential during CRA reviews.

• When combined with provincial incentives, the total credit can exceed 50% of eligible spending. However, claiming provincial assistance may reduce the federal credit, so coordination is important.

𝐀𝐜𝐭𝐢𝐨𝐧: If you’re developing new products, processes or software, we can review your projects to determine eligibility, estimate the credit, and help prepare T661 schedules and supporting documentation to maximize your claim while managing audit risk.

Contact us today to book a free consultation!
Visit us at machaccounting.com | Call us at +1-855-352-5191
Email us: [email protected]

Disclaimer:
This post is general information only and not tax advice. Feel free to save or share this, and contact us if you need assistance getting organized.