Important Documents to Review & the Latest Tax News
Insights from your team at Turner Moore
Turner Moore Tax Paperwork
Please complete the form below and either upload it or bring it to your local Turner Moore office with your tax paperwork. Also, here is a list of tax documents you may wish to submit as well.
Turner Moore 2025 Returning Client Fillable
Turner Moore 2025 Key Tax Records
New CRA Tax Changes In 2026 You Need To Know Right Now
The Canada Revenue Agency (CRA) is implementing sweeping tax changes for 2026 that will affect virtually every Canadian taxpayer.
This comprehensive guide breaks down every major CRA tax change for 2026, including detailed calculations, comparison tables, and practical examples to help you maximize your tax savings and plan your finances effectively.
AI-generated CRA Tax Scams
Tax season is underway and security experts warn that artificial intelligence is making it easier for even inexperienced fraudsters to fool their victims.
The Canada Revenue Agency has stated that generative AI is creating more sophisticated malicious content that would previously have required significant knowledge, time, and resources to design.
Read more about the significant rise in AI-generated scams.
Are You Sitting on One of 3.9 million Uncashed Cheques From the Government?
With Canadians sitting on more than $2 billion in uncashed government cheques, it’s simple to find out if you’re missing money.
Those cheques include millions of tax refunds, carbon rebates, pension cheques, benefits and more payments issued by the Canada Revenue Agency (CRA) and other government departments.
Finding out if the feds owe you money can be as easy as logging into your online CRA account.
TFSA Might be the Better Tax Choice
RRSP season is often driven by the desire for a tax refund, but the best retirement strategy isn’t always about contributing before the deadline. This article explains how balancing contributions between an RRSP and a TFSA, based on your income and long-term goals, can create a smarter tax plan and help your investments grow more effectively over time. Read more here.
Taxpayers Complain of Long Waits for the CRA to Fix its Errors, Deliver Refunds
Some Canadians are waiting months—or even more than a year—for the Canada Revenue Agency to correct tax return errors and resolve disputes, leaving penalties and interest hanging over their heads. This article explores why these delays are happening and what they could mean for taxpayers heading into the 2025 tax season.
“Someone Says…” — Why Tax Myths Can Cost You
As accountants, one of the most common phrases we hear when discussing tax positions is:
“Someone says you can…”
It usually comes from a friend, a coworker, or “someone who knows a guy.” While often well-intentioned, this type of advice is one of the biggest sources of tax trouble we see. Unfortunately, when it comes to taxes, what “someone says” and what CRA allows are often very different things.
Below are a few common myths we regularly hear—and the actual facts behind them.
Common Tax Myths vs. Reality
Myth: You can write off your whole car if you use it for work.
Reality: Vehicle expenses are deductible only to the extent they relate to business use. CRA expects mileage logs and reasonable allocations. If your vehicle is used 30% for business, only 30% of eligible expenses are deductible.
Myth: Cash or side income doesn’t need to be reported.
Reality: All income must be reported, regardless of how it is paid—cash, e-transfer, or cheque. Not reporting income is tax evasion, not tax planning.
Myth: You can run personal expenses through your business to save tax.
Reality: Only expenses incurred to earn income are deductible. Personal groceries, vacations, or home renovations do not become deductible simply because you own a business.
Myth: If CRA hasn’t questioned it before, it must be okay.
Reality: CRA audits are often done years later. When reassessments happen, they can include multiple years at once—plus penalties and interest.
Why “Someone Says” Sounds Convincing
Tax rules don’t always feel fair. It feels logical that if you need your phone for work, the entire bill should be deductible. It feels reasonable that a small side income shouldn’t matter.
But tax law is not based on feelings—it’s based on facts, documentation, and legislation. CRA looks for evidence: receipts, logs, and proper reporting. What feels reasonable does not always align with what is allowed.
Where Reliable Tax Advice Comes From
The only reliable sources of tax guidance are:
- The Income Tax Act and CRA publications
- Qualified professionals, such as CPAs and tax lawyers
Friends and family may mean well, but their advice is rarely complete or tailored to your situation. CRA does not accept “but someone told me I could” as a defence.
The Bottom Line
If you catch yourself starting a tax sentence with “someone says…”, that’s your cue to pause and check the facts.
Good tax planning absolutely exists—but it must be based on accurate information, not myths or anecdotes. The cost of fixing a mistake after the fact is often far higher than getting proper advice upfront.
If you have questions about what is deductible, reportable, or allowed, please reach out before relying on what “someone says.” We’re here to help you make informed decisions—with confidence and peace of mind.
Thank you!
The preceding information is for educational purposes only. As it is impossible to include all situations, circumstances and exceptions in a newsletter such as this, a further review should be done by a qualified professional.
No individual or organization involved in either the preparation or distribution of this letter accepts any contractual, tortious, or any other form of liability for its contents.
If you have any questions, visit www.TurnerMoore.com and contact your local office!
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