Work Wise

CRA is going to stop sending mail in Spring of 2025. You need to set up your CRA account and CRA business account.

Starting in the spring of 2025, the Canada Revenue Agency (CRA) will transition to online mail as the default method of delivering most business correspondence. This means you’ll begin to receive your business tax notices and other correspondence through My Business Account. To prepare for this change, access Notification Preferences in your Profile to ensure you have a valid email address on file to receive email notifications on important tax notices and other information.

If you’ve taken out a home equity line of credit (HELOC) for business purposes or to invest, the interest on that loan may be tax-deductible. Be sure to track the use of funds to claim the appropriate deductions.😎