Finance Canada Releases Draft Legislation January 29

February 27, 2026 is the last date to comment on a raft of draft legislation released at the end of January covering provisions from the November 4, 2025 Federal budget,  the Fall 2024 Economic Statement, amendments from Budget 2021 regarding Hybrid Mismatching Arrangements, technical changes to two investment tax credits, dating back to 2022 and 2023, as well as corporate changes regarding the Global Minimum Tax.  The key measures to note appear below:

With recent interest rate hikes in the news, taxpayers will have more questions about the deductibility of interest costs.  Exactly when is interest fully deductible as a carrying cost or a business deduction? When does it form part of the capital cost of the property? Finally, when do new legislative proposals recently released by Finance Canada begin to restrict interest cost deductibility and for whom?  Here’s what you need to know to have more confident conversations between advisors and taxpayers:

RRSP season ended on March 1, so any contributions to be deducted on the taxpayer’s 2021 return must have already been made. These contributions cannot exceed the maximum RRSP contribution for 2021 which appeared on the 2020 Notice of Assessment. So long as the contributions made are less than the maximum allowed, the taxpayer can deduct as much or as little of the contributions made on their 2021 return. Complications arise, though, when the amount contributed exceeds the maximum.

On March 3, 2022, Prime Minister Justin Trudeau, announced that the Canada Digital Adoption Program (CDAP) is now fully active and ready for qualifying businesses to apply for funding. The purpose of the CDAP is to assist small and medium-sized enterprises (SMEs) “grow their online presence and upgrade or adopt digital technologies.” Here are the details:

Tax season is now in full swing, according to the most recent 2022 season filing statistics from the CRA. As of March 7 almost 2.5 million returns had been filed, with over 95% through electronic filing methods E=File and Netfile. As we approach the height of the season, does you team have the necessary resources to deal with the demands?

Did you know the federal government intends to double the Home Accessibility Tax Credit for tax year 2022?  This week’s tax tip is relevant to caregivers and those age 65 or older.  You may even be eligible to make a claim this year.  Here’s what you need to know:

When should I tap into the CPP?  Should we sell our principal residence?  Will my retirement portfolio withstand current market volatility?  Canadians who save for retirement are lucky to be assisted in doing so with four key sources of pension income.  But these pillars of private financial security, have been subject to tax tinkering recently, as well as valuation swings.  It is, as a result, high time to rethink retirement income planning.