Important changes to CRA My Business Account!
Important changes to CRA My Business Account!
Starting July 15, 2025, the Canada Revenue Agency (CRA) is making key changes to My Business Account:
Online Mail Default: Most business correspondence will be delivered through My Business Account instead of paper mail. Businesses should ensure their email is up to date to receive notifications.
Representative Authorization Updates: The EFILE Authorize a Representative service will no longer be available for individuals. Businesses will still be able to submit authorization requests through EFILE.
Capital Gains Inclusion Rate: The CRA is administering proposed changes to the capital gains inclusion rate, effective June 25, 2024. Impacted forms for individuals, trusts, and corporations will be available by January 31, 2025.
To prepare, businesses should review their My Business Account settings and ensure they are ready for the transition.
Basilica of Our Lady Immaculate - Guelph, ON
Tax & Financial Strategies Tailored To Your Business
We are a full-service accounting firm. Take a look below at the financial services your business can benefit from…
From bookkeeping, payroll, HST/GST filing to corporate accounting, and much more.
We make every effort to prepare your financials in a timely manner and we make sure YOU really understand them!
Accounting
If you have a small business with monthly, annual, or situational accounting needs, we're here to offer our expertise and financial consultation. We also handle bank reconciliations, monthly controllership functions, and your day-to-day needs.
Bookkeeping
We keep the financial records for your business organized and up to date, offering council and insight into your business during both good and difficult times. We take the stress of bookkeeping off your shoulders so you can spend your time doing what you do best.
GST/HST Filing
We help your business keep track of the HST and GST records, whether you pay annually or quarterly. This, in combination with our bookkeeping savvy, provides you deep insight into your business’ short and long-term goals, and revenue.
Corporate Accounting & Income Tax
We prepare corporate year-ends, from adjusting entries to amortization. With experience handling corporate accounting and year-ends going back to 1992, we’ve become one of the tri-city’s experts in the field, offering quick and thorough turnaround.
Financial Statement Analysis
Using ProfitCents, an in-depth analysis tool, we help you interpret your financial statements compared to industry averages, using real-time industry data on private companies to benchmark clients and track industry trends.
Tax & Financial Strategies
We work with you to develop immediate and long-term tax saving strategies. We provide assistance with budgeting, implementation, and control of corporate finances.
Payroll
Employers must complete and manage the paperwork for payroll, T4s, and worker’s comp for all their employees. This can be daunting for your small or mid-sized business without an in-house accounting team. We take care of the paperwork and the headaches so you don’t have to.
Accounting Software Training
We offer to educate our clients so they can use accounting software and be as involved with their own books as they like. We believe educating our customers is both a privilege and a responsibility.
QUOTES
Personal & Corporate Services
It is the policy of Keith McLaren CPA to not provide quotes for financial or tax filing services via phone or email due to the personal nature of a person’s finances.
Likewise, we cannot provide quotes for these services for any company either. Each company is different, with different parameters, requirements, and obligations. These all need to be reviewed prior to providing estimates for services.”
We recommend you make an appointment to discuss your needs and expectations.