Tax Tips: First Quarter 2026

Overview

Some quick points to consider…

CRA will receive information from online digital platforms that facilitate the sale of goods and provisions of services, such as Airbnb, VRBO, Uber, etc., in respect of the 2025 calendar year, by January 31, 2026. Ensure that all income is properly reported.

The first-time home buyers’ GST/HST rebate, along with the existing GST/HST new housing rebate, would provide a 100% GST rebate on homes valued at up to $1 million, with the rebate being phased out in a linear manner for homes valued between $1 million and $1.5 million. The rebate was originally proposed to take effect on May 27, 2025; however, the effective date has been moved to March 20, 2025, the date Prime Minister Mark Carney first announced the rebate.

A non-resident making an assignment sale is subject to the same withholding and disclosure requirements as applicable to a direct sale of real property.

CRA has cautioned against using aggressive tax schemes involving complex insurance-based arrangements (often using critical illness insurance and loans) that are designed to help taxpayers inappropriately avoid paying taxes. CRA cautioned that certain insurance products do not meet the standards of valid insurance policies and are solely used to support the tax scheme.