Immediate Expensing Rules: Good Tax Policy?

Over the course of the last two federal budgets (April 16, 2024 and November 4, 2025), the rules for claiming Capital Cost Allowance (CCA) have been uncertain. The proposal to extend immediate expensing rules for certain acquired assets were paused for over a year and then re-introduced in a series of four complex measures which together with new rules for Scientific Research and Experimental Development have become known as the “Productivity Super-Deduction”.  A backdrop appears below. The key question: will this complexity be effective as an economic stimulator?   

Use them before you lose them! That’s the message for parents and post-secondary education students filing 2017 tax returns who are looking for provincial tuition fee rebate programs to reduce student expenses. This is especially so, since the federal education and textbook credits have been cancelled. But the tuition rebate programs are diminishing, too.

In Part 3 of this series on deductible investment expenses, we discuss costs that are not deductible – a mystery and a surprise to some taxpayers during a tax audit. Here’s more essential information to keep you out of hot water.

In the accounting and finance industry, a lot has changed since the 1950s. Today this field is of particular appeal to women, as they now make up a widening majority (58 Percent) of its workforce. Earnings for women have also doubled, making this an excellent career choice. 

Are retired Canadians turning to you for help when they’ve been subjected to Old Age Security clawbacks? If you are a professional in the tax and financial services industry, its your job to provide valuable advice to pre-retirees on this complex issue, and help them avoid the Pension Recovery Tax that could take a chunk out of their retirement income.

The clock is ticking! Do you have everything you need to file your taxes before the April 30 deadline? Rushing through the tax preparation process can cause you to miss important steps, putting you at risk of an audit. This is your guide to the basics, and Knowledge Bureau’s Tax Documentation Checklist will take you the rest of the way in preparing an audit-proof return. Be sure to contact us for your copy, or click on the link provided!

On March 28, 2018 Ontario released what has been widely considered to be a “Pre-Election Budget”. Aside from large spending increases, it features changes to Ontario’s tax rate structure, which so far have received little fanfare. Seven tax brackets result in personal tax increases for almost two million people; in addition, 20,000 private businesses will pay at least $2,400 more in health taxes.