Confirmed:  The CCR for Small Business is Tax Free

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.

Knowledge Bureau has released a newly updated certificate course to train advisors on the nuances of filing tax returns for small businesses. The big tax change this tax season is proving to be a bit of a headache: how to handle new capital cost allowance claims under the new Accelerated Investment Incentive. Good news: this new course covers the issue with great examples and case studies.  

Great news! New data from Statistics Canada’s Canadian Income Survey, released on February 26, shows that poverty levels are on the decline thanks (at least, in part) to federal benefit programs like the Canada Child Benefit (CCB) and the Guaranteed Income Supplement (GIS). Unfortunately, there is a fly in the ointment, but tax and financial professionals can help.

Is a recession around the corner? A March 1 Statistics Canada economic report shows negligible economic growth for the fourth quarter of 2018, due to a decline in oil export prices and decreased investment spending. Now just might be the right time to implement tax and financial planning strategies to brace for a prolonged slowdown.

Is the tax refund a good thing? It’s a question that spurred a great debate in February’s Knowledge Bureau poll when we asked tax and financial professionals whether or not the withholding taxes that lead to a tax refund should be reduced to help taxpayers save or pay down debt. Did the no side or the yes side win? You’ll be surprised by the results.

Canadians are struggling to meet their retirement savings goals, and this is an issue impacting the traditionally employed and self-employed, alike. A recent survey by TD identified that it’s a special challenge for gig workers in particular. But for many, it’s a dilemma that can be solved by changing priorities. 

British Columbia was the first province to release its budget this year, when they announced it on February 19. There were some interesting new benefits in the package that advisors must factor into their tax and financial strategies with clients who are B.C residents at the end of 2019.