What Business Owners, Investors, and High-Income Individuals Need to Know

Each quarter brings new tax developments that can materially affect financial outcomes—sometimes in ways that are easy to miss until it’s too late. The Q1 2026 edition of Tax Tips & Traps (Issue 153) highlights recent CRA changes, court decisions, and administrative updates that business owners, investors, and high-income individuals should review early in the year.

Below is a detailed breakdown of the key issues covered this quarter, along with practical context on why they matter.

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What Business Owners, Investors, and High-Income Individuals Need to Know

The second quarter of 2026 brings several important tax developments involving corporate accounting, shareholder transactions, real estate, GST/HST, family property ownership, child benefits and employment-related deductions.

The Q2 2026 edition of Tax Tips & Traps (Issue 154) highlights recent court decisions and CRA guidance that demonstrate how documentation, proper accounting and the way transactions are structured can significantly affect tax outcomes.

Below is a practical breakdown of the major issues covered this quarter and why they matter.

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As a business owner, one key to your growth is to keep up to date with ever-changing technology trends. Learning what technology can help you, as a business owner, be more effective and efficient will also lead to your further success.

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At one time, having a “side job” meant a little extra cash to help with the family income without much consideration to reporting these at tax time. These days, having a side job is known as “side hustling”, and it is quickly becoming a popular first step towards entrepreneurship.

A side hustle can include anything from house-cleaning to chauffeuring to freelance writing to hoteling. It can include ventures such as AirBnB, Uber and TaskRabbit, to name a few. If you’re in this category of business, or have any sort of business or hobby on the side, you should be declaring them at tax time.

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