Fuel Excise Tax on Hold But Inflation is Not

The U.S.-Israel war on Iran has thrown global oil prices into turmoil and there is plenty of fallout for consumers. Travelling to Europe this summer? That’s in jeopardy, as jet fuel may run out.  Looking for relief at the pumps instead? The recently announced suspended federal excise tax on gasoline, unleaded aviation gasoline, diesel fuel and aviation fuel here in Canada will soften the blow, but only temporarily: it will be zero from April 20 to September 7, 2026. Here’s what you need to know:

Canada’s income gap is growing. That much is true, but that one sentence fails to tell the whole story. There is much more to the issue of increasing disposable income in Canada, especially in volatile, recessionary times. In fact, to close the income gap it’s most important to focus on the wealth gap. That means helping average people save more, sooner. That brings purpose and urgency to the proactive conversations that should be initiated this fall by professionally trained financial advisors. Consider the following:

Last month CRA posted a news release that they are making it easier for newcomers to apply for benefit and credit payments online. Unfortunately, the process is anything but easy. This presents a great opportunity for tax and financial professionals to help and in the process, start a highly valued new relationship with new Canadians.

When choosing an online education provider in tax, bookkeeping, or financial services, it’s important to look beyond course content alone. At Knowledge Bureau, we offer a more structured, supportive, and applied learning experience—designed to help professionals strengthen their careers and deliver measurable value to clients. Here’s how each part of the Knowledge Bureau experience supports your professional growth:

Audit activity is on the rise—and the stakes are higher than ever. With a federal target to collect $3.75 billion through increased fines and penalties, along with widespread T-slip errors and confusion around capital gains, tax audits are expected to surge in 2025.Tax and financial advisors must be prepared to respond. Join us at the CE Savvy Summit: Audit Defence on September 17 for a deep dive into the latest audit trends, case studies, and defence strategies. Learn directly from leading experts and get practical tools to better protect your clients. Register by September 10 to take advantage of early-bird rates. Special pricing available for Diploma and Team member registrations.

This fall, step out of the day-to-day and into a setting designed to inspire forward thinking and fresh perspective. Join us November 23–26 in Puerto Vallarta, Mexico for the Acuity 2025 Conference for Distinguished Advisors, where leaders, educators, and advisors gather to explore what it takes to thrive in a fast-changing financial landscape. Space is limited, and flight prices are increasing. To join the experience, earn CE/CPD credits, stay ahead of critical changes, and return to your practice energized and future-focused, Acuity 2025 is your landing spot.

The Canada Deposit Insurance Corporation’s (CDIC) deposit protection is automatically applied when investors deposit money with a member bank or credit unions.  The object is to protect depositors should a bank fail.  The good news?  There has not been a deposit insurance payout in almost 30 years.  But now the framework is under review and both advisors and their clients may wish to weigh in, in particular because the deposit insurance limit is currently only $100,000 in specific deposit categories.