Tax Year End 2026. Be Aware of the 2026 Estate Tax Cliff and Possible Impacts If you gifted the full $13.61 million this year, you'd still have no exemption left, but were able to nearly. 2026, may be available (subject to certain conditions)
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If opting for salaries, be aware that any accrued amounts — including bonuses — are paid within 179 days of year-end 6 April - Start of the 2026/27 tax year, bringing updated tax rates and possible reforms
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Corporations do not follow the calendar year; instead, they operate on a fiscal year which they can choose themselves when they incorporate For all subsequent returns, your tax year start will be the day after your tax year-end 31: Deadline for paying balance owing for Form T1-OVP if you made excess RRSP contributions in 2024
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