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It is now tax season. For your reference please download our personal 2025 tax organizer. Ensure you bring details, official receipts, and all tax slips as applicable.

Download Tax Organizer 2025

It’s Federal Budget time!

On November 4, 2025, the Federal Government tabled Budget 2025, which proposed various provisions impacting individuals and businesses.

Some of the items of interest include the following:

• Higher rate depreciation – A variety of new and extended accelerated capital cost allowance (CCA) measures would apply on capital asset acquisitions in the near future.
• Bare trust filings – Filings in respect of bare trusts would be deferred until the 2026 year.
• Underused housing tax (UHT) – The UHT would be cancelled starting with the 2025 year.
• Intercorporate dividends – In certain situations, a new rule would suspend tax refunds that would normally be received on dividends paid to affiliated corporations.

The government has also confirmed the cancellation of the proposed increase to the capital gains inclusion rate and the Canadian entrepreneurs’ incentive.

For additional details see our full summary.

Download Federal Budget 2025 Summary

A common inquiry from new clients is whether incorporation of their business should be considered.  Below provides a quick answer to that question.

Download Document

It is now tax season. For your reference please download our personal 2024 tax organizer. Ensure you bring details, official receipts, and all tax slips as applicable.

Download Tax Organizer 2024

April 17 2024, the Deputy Prime Minister and Finance Minister, the Honourable Chrystia Freeland, presented Budget 2024: A Plan to Grow Our Economy and Make Life More Affordable, to the House of Commons.

Below is our summary of the budget’s contents.

Download Federal Budget 2024 Summary

The partners of Connelly & Koshy are delighted to share some exceptional news that reflects the continued growth and success of our firm. We are immensely pleased to announce that Ms. Brenda Quast, CPA, CA has been admitted to the partnership.

Brenda is a Chartered Professional Accountant who specializes in tax and has completed the CPA Canada’s in-depth tax program. Brenda has been an integral part of our team for almost 19 years, consistently demonstrating outstanding professionalism, leadership, and a deep commitment to the success of our firm. Her hard work and diligence have not only contributed to the growth of our clients but have also played a significant role in shaping the positive and collaborative culture we value at Connelly & Koshy.

As Brenda steps into this new role, we are confident that her skills and leadership will continue to elevate the standards of excellence we uphold at Connelly & Koshy. Her promotion to partnership is not just a recognition of her past achievements but a testament to the trust we have in her ability to contribute to the future success of our firm.

Please join us in congratulating Brenda on this well-deserved achievement and a significant milestone in her career. We are fortunate to have her as part of our leadership team and we look forward to seeing the positive impact she will undoubtedly make in her new role as a partner.

Read full Announcement

March 29 2023, the Deputy Prime Minister and Finance Minister, the Honourable Chrystia Freeland, presented Budget 2023: A Plan to Grow Our Economy and Make Life More Affordable, to the House of Commons.

Below is our summary of the budget’s contents.

Download Federal Budget 2023 Summary

Under a recently passed law (called the Underused Housing Tax Act), certain residential property owners now have a new annual return filing requirement with the CRA, and in some cases a new tax payment obligation.

Click here to Read Document.

On April 7, 2022, the Deputy Prime Minister and Finance Minister, the Honourable Chrystia Freeland, presented Budget 2022: A Plan to Grow Our Economy and Make Life More Affordable, to the House of Commons.

Below is our summary of the budget’s contents.

Download Federal Budget 2022 Summary

It is now tax season. For your reference please download our personal 2021 tax organizer. Ensure you bring details, official receipts, and all tax slips as applicable.

Download Tax Organizer 2021