Purchase Capital Assets
If you are planning to buy new equipment or computers, doing so before your fiscal year-end allows you to claim Capital Cost Allowance (depreciation) for that year (subject to the half-year rule). For 2026, the Accelerated Investment Incentive allows an enhanced first-year CCA deduction on eligible property.
Accrue Expenses
Ensure all expenses related to the current year are recorded, even if you haven't paid them yet (if using accrual accounting).
Salaries vs. Dividends
Review the mix of salary and dividends paid to owner-managers to optimize personal and corporate tax loads. For 2026, paying yourself a salary of at least $71,300 maximizes your CPP1 pensionable earnings. This decision often requires professional advice.
Official Resource: Claiming Capital Cost Allowance (CCA)
RRSP Contributions
For the 2025 tax year, the RRSP contribution deadline is March 2, 2026. Your maximum contribution is 18% of your 2024 earned income, up to $32,490. Check your Notice of Assessment for your exact room.
