CPA Indexation for 2026 Personal Amounts
The Consumer Price Index numbers for September have been released and that number is used to calculate the indexation rate for personal amounts and tax brackets. Although the federal government has yet to announce the new tax figures, we’ve done the math to estimate the numbers. It’s important information for year end tax planning purposes, a subject we will also cover in depth on November 5 at the live virtual CE Summit. Read on to learn more.Year End Planning and the 14% Solution
Arthur Godrey once said: “I’m proud to pay taxes but I could be just as proud for half the amount.” Well, it wasn’t quite that generous but, effective July 1, Canadians did get a tax cut. The problem is, it will also reduce the value of Canadians’ non-refundable tax credits. This needs to be taken into account in year end planning.
Poll: Readers Have Doubts About CRA’s 100-Day Plan
On September 2, Finance Minister François-Philippe Champagne mandated the Canada Revenue Agency (CRA) to implement a 100-day plan to “strengthen services, improve access, and reduce delays.” The deadline for delivery is December 11, 2025. But do Knowledge Bureau Report readers believe this approach will work? Clearly, readers are skeptical, as 77% voted “no”. Many expressed frustrations with CRA’s performance and questioned whether such a short timeline could address deep, systemic issues. See what they have to say below!
Mark Your Professional Training Calendar
If you are a tax or financial advisor, Knowledge Bureau is offering numerous opportunities throughout 2025-2026 for you to shore up tax knowledge and important CE accreditation for licensing for KB Designations, Professional Designations in the accounting sector as well as CIRO, MDSA, AIC and Insurance Councils. Mark your calendar for the live/virtual event milestones below and see the links for online program options as well.
CRA Pushes SimpleFile
CRA is hoping that two million taxpayers will opt to use their new “SimpleFile” services - by phone, by mail or digitally – to have their tax returns filed “automatically by the Canada Revenue Agency (CRA). The goals is to help more vulnerable people receive access to over $3 Billion in tax credits and benefits. Unfortunately, however, using the system is anything but simple. It may in fact be a very stressful and frustrating exercise. However, CRA believes that will improve exponentially. Check out what’s to know about SimpleFile:
