This Month’s Poll

Do you agree with the government’s plan to introduce the new  Canada Groceries Essentials Benefit (CGEB)?

For seasoned advisors and tax professionals, continuing education isn’t just a box to check—it’s a tool for leadership, specialization, and stronger client outcomes. That’s why Knowledge Bureau has introduced CE Master Micro-Credentials: curated, high-impact CE collections designed to help you sharpen your skills across financial disciplines—and stand out in a competitive, increasingly regulated space.  Consider the experience of recent grads and then try it yourself!  Enrol this July and receive a special introductory discount.

Since 2017, the adoption of Electric Vehicles (EVs) has surged in popularity. Our current government is poised to follow through on a mandate that will require that hybrids and EVs make up 20% of new car sales (passenger cars, SUVs and trucks) in 2026 with the goal of 100% by 2035.  There are some important tax issues to consider in this ambitious mandate, including, what this will do to the value of fuel-based autos, the CCA write-offs available and most important from an audit standpoint, how to track the receipting for the costs.

At the 2025 Acuity Conference for Distinguished Advisors November 23-26 in Puerto Vallarta, a multi-disciplinary audience of top advisors will have the opportunity to learn from one of Canada’s most experienced wealth strategists, author, and Head of BCV Private Client Group: Douglas V. Nelson, RWM™, MFA™, CFP®, CLU, TEP.  In a dynamic session built around real-world results, Doug will demonstrate how to build resilient, tax-efficient retirement portfolios, a necessary strategy in today’s volatile markets.

Ottawa has confirmed that the CCR for Small Business received by eligible Canadian-controlled private corporations (CCPCs) will be tax free for the 2019-20 to 2023-24 fuel charge years, as will the final payment for the 2024-2025 fuel charge year.  Draft legislation was released on June 30, 2025 with this announcement; and will be introduced for law making in Parliament this Fall.   Some of the more significant details are discussed below.

Did you know that up to June 23, 2025, over 31.5 million Canadians had filed a T1 tax return? Over 7 million people are owing about $8000 to the CRA. The numbers are estimates, as CRA has not updated their website, however what is clear is that CRA has reduced the third quarter prescribed interest rates for Q3 – July 1 to September 30. That makes interest on money owing to CRA 1% lower – the lowest interest rate in fact since October 1 to December 31; the fourth quarter of 2022. Here are the new rates, some planning opportunities and a Summer of 2025 educational opportunity:

An educated population is a prosperous one and here in Canada, families have options to save for their children's post secondary education with generous tax assistance through the Registered Education Savings Plans (RESP) and its government matching programs, the Canada Education Savings Grant (CESG) and the Canada Learning Bond (CLB). Unfortunately, the uptake on most of these programs is low, relative to the overall population, and tax accounting and financial advisors can add significant value in a society focused on a prosperous future by turning this around. Here’s the opportunity: