February is tax season for Lethbridge investors, which means it’s the time to claim investment income on your 2025 return. The complexities of T3 slips and T5 slips make reporting investment income correctly a real challenge. Whether you hold mutual funds, stocks, or GICs, filing your investment income tax in Lethbridge in 2026 correctly is […]
You filed your 2025 tax return early, expected a refund, and then received a CRA reassessment notice. Your refund is smaller than expected, or worse, you now owe money. Many Lethbridge taxpayers are facing this situation in 2026 as the CRA cross-references returns with employer and investment records. A CRA reassessment 2025 return happens when […]
Many people believe they don’t need to file income tax returns if they have nil or low income. While avoiding even a nil-income (no income) tax filing may seem appealing, especially with high tax rates, this assumption costs you valuable benefits. Whether you’re a student, retiree, stay-at-home parent, or new immigrant, filing your tax return […]
With tax season underway in Lethbridge, many residents are looking for ways to lower their 2025 taxable income and increase refunds. One of the most effective tools remains the Registered Retirement Savings Plan (RRSP). Contributions made by March 2, 2026, are deductible on your 2025 return, providing immediate tax relief while building long-term savings. The […]
Tax season is here in Lethbridge, and filing your 2025 return correctly is key to avoiding penalties and getting the refund you deserve. The Canada Revenue Agency sets a general deadline of April 30, 2026, for most individuals. If you or your spouse/common-law partner are self-employed, the filing deadline extends to June 15, 2026 (though […]
Property owners in Lethbridge receive annual assessment notices each January. These notices set the value used for the upcoming tax year’s property taxes. The 2026 notices, expected in early January 2026, will reflect market conditions as of July 1, 2025. Sole proprietors operating from home and investors holding rental properties pay close attention to these […]
Landlords in Lethbridge who earned rental income in 2025 need to report it on their upcoming tax return. This means completing Form T776 to detail gross rents, expenses, and deductions. The Canada Revenue Agency requires accurate submissions to avoid audits or penalties. Individuals generally file by April 30, 2026, while self-employed landlords or those with […]
Property owners in Lethbridge receive annual tax notices in May, with payments due by the last business day of June. For 2025, notices went out on May 13, and unpaid balances faced a 7% penalty starting July 1. Rental owners, sole proprietors, and investors face serious consequences from arrears. Under Alberta’s Municipal Government Act, prolonged […]
Property owners in Lethbridge saw a significant change in their 2025 tax bills due to the provincial education requisition. This portion increased by 13.8 per cent compared to 2024, contributing to higher overall costs. Landlords with rental properties and families with primary residences face this impact. The education tax forms part of the municipal bill, […]
Property owners in Lethbridge receive annual assessment notices each January. These notices set the value used for the upcoming tax year’s property taxes. The 2026 notices, expected in early January 2026, will reflect market conditions as of July 1, 2025. Sole proprietors operating from home and investors holding rental properties pay close attention to these […]
