Tax Tips & Traps – Q4 2026

Business Tax Deductions, CRA Court Decisions and Year-End Planning

Could your next equipment purchase qualify for an immediate tax deduction? Does buying a home mean you must close your First Home Savings Account? And what happens when CRA challenges expenses years after a tax return was filed?

The October 2026 edition of Tax Tips & Traps (Issue 156) examines these questions and more, including employee versus contractor status, eligible dependant credits and the importance of reliable accounting records.

Explore the key developments below. The proposed measures discussed in this article are not necessarily law; eligibility and outcomes depend on individual circumstances.