Tax Season 2026: What Calgary Business Owners Need to Know

Tax season 2026 is here, and Calgary business owners need to be prepared. Whether you're a sole proprietor or incorporated, understanding this year's key deadlines, rule changes, and opportunities can save you money and stress.

Key Deadlines

• February 28, 2026 — T4 and T4A filing deadline for employers
• April 30, 2026 — personal tax return deadline (and balance-owing deadline for self-employed)
• June 15, 2026 — self-employed filing deadline (but balance owing is still due April 30)
• Six months after fiscal year-end — corporate tax return deadline

Notable Changes for 2026

The federal government has continued its push toward digital reporting. CRA's online services are now the default filing method for most business returns. The basic personal amount has been indexed to inflation, reducing your tax slightly. CPP contribution rates and maximums have increased for 2026 — if you're on payroll, ensure your deduction tables are updated.

Capital Gains Changes

Keep an eye on the capital gains inclusion rate, which has been a moving target. If you sold business assets, investment properties, or shares in 2025, consult your accountant about the applicable inclusion rate for your situation.

Maximize Your Deductions

The best time to review your deductions was throughout the year; the second-best time is now. Common deductions Calgary business owners miss include: home-office expenses, vehicle mileage, professional development, and association memberships. Ensure your books capture all of these.

RRSP Contributions

If you have RRSP contribution room, contributions made by March 2, 2026 can be deducted on your 2025 tax return. This is one of the most effective tax-reduction strategies available to sole proprietors and individuals who take salary from their corporations.

Get Your Books Tax-Ready

If your books aren't up to date, there's still time — but don't wait. Castle Bookkeeping offers catch-up bookkeeping services to get you filing-ready. We can also prepare your personal and corporate tax returns or coordinate with your accountant. Contact us today for a free consultation.