New Mega Deduction a Good Start, But More Tax Reforms Are Needed
The Federal government has unveiled a Productivity Mega Deduction, which will provide immediate expensing under Capital Cost Allowance (CCA) provisions for a broad range of depreciable property, importantly on a permanent basis, for acquisitions on or after September 15, 2026. Check out the noteworthy exclusions are listed below. This tax reform is a good start, but much more needs to be done, especially for small business owners and average taxpayers to make Canada truly competitive across our tax base.
Read More
Avoiding the Auto Expense Audit
There are nearly 1.2 small businesses in Canada along with many more individuals who are in the GIG economy, or earning income through contract or freelance work. It’s critical for these clients to report all income and to accurately report any legitimate deductions and expenses – including those related to mixed-use business-use vehicles. Those expenses are always audit-prone. Here are some tips to discuss with clients to make sure those auto log details are up-to-date and to prepare them for potential decisions before the year end: should I buy or lease a new car?
Read More
When a Bonus Comes with a Tax Bill
You probably don’t have any clients who have received a US$12.25 bonus. But that’s what Toronto Maple Leafs star John Tavares received when he signed with the club. In August, Tavares appeared in court, to fight an $8 million tax bill. $1.2 million of that amount is interest which CRA says he owes.
Read More
One Week Away: Prepare for Today’s CRA Audit Environment
What’s changing at CRA? Who is at greater risk of an audit? What can CRA demand, and how should you respond when an assessment is wrong? In just one week, the September 23 CE Savvy Summit: Audit Defence Management brings together Evelyn Jacks, Ruth Horst and Kim G C Moody for a comprehensive update on the issues tax professionals need to understand to prepare stronger filings and defend their clients.
Read More
Protecting Wealth When Clients “Have Enough”: Rethinking the Role of Insurance
For clients who have accumulated significant wealth, the question may no longer be whether they need insurance. Instead, where can insurance fit as a strategic tool to preserve wealth, provide liquidity and optimize the resources they already have? That’s the focus of an important insurance planning session at the 2026 Acuity Conference for Distinguished Advisors, featuring Daniel Dessureault, ASA, CEA, CLU®, CFP®, RWM™, MFA-P™ and Melanie Zimmerman, CPA, CA, TEP, sponsored by PPI.
Read More
Help & Contact: 1 866 953 4769