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.

Each year, 1 percent of the population passes away, generating tax consequences and other financial implications that impact remaining family members.Yet, often tax and financial advisors are hesitant to focus on tax-efficient estate planning, leaving it to attorneys instead. But you can add value as a more trusted advisor by offering a more holistic approach to a powerful financial moment by honing skills in discussing the tax consequences on death of a taxpayer.

Every year there is a milestone date when Canadians can shift their focus from paying taxes due to using their income to secure their financial future. Several countries track “Tax Freedom Day” annually, and Canada’s is coming up in June. It falls weeks behind other countries, which can have negative repercussions to wealth management and retirement planning.

The Canadian Longitudinal Study on Aging (CLSA) has just released its first report on a broad range of physical, mental and social aspects of aging in Canada. Why should tax and financial advisors care about these trends at this time? The key findings may surprise you, as the vast majority of seniors say they are managing very well.

Despite good trends in overall wealth accumulation in Canada, recent reports show that many Canadians struggle financially with increasing personal debt levels, and rising mortgage interest rates. The  2018 Budget also voiced concerns about income equality and diversity, but it’s clear education is a key part of the solution.

According to the 2016 Survey of Financial Security, released in December of 2017, median net worth increased in Canada by 14.7 percent since 2012. The big ticket to success? Turns out, it’s real estate, pensions and according to other studies, entrepreneurship.

When an employee moves from one employer with a pension plan to a new employer with their own pension plan, pension adjustments can get confusing.