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.

Knowledge Bureau is pleased to release two important tools to assist taxpayers and their advisors with authoritative tax information that’s fast and accurate: the 2018 Income Tax Estimator in the Knowledge Bureau Toolkit, and the new T1 Return, which appears in EverGreen Explanatory Notes.

It’s official, family income sprinkling rules will take effect January 1, 2018, and, unless a family member can show active participation under still-complicated reasonableness tests, distributions of income from private family businesses will be taxed at top tax rates, with none of the progressivity in tax rates available to individuals. This will require an immediate rethinking of resources available to the economic unit known as the family business.

In the spirit of the season, it’s heartwarming to know that the vast majority of Canadians are lending a helping hand to those in need. And what goes around comes around: be sure to inform your clients about tax credits they may qualify for, thanks to their generosity.

There is still time to consider your own unique RRSP tax strategy to reduce income and taxes and increase refundable tax credits for your financial gain in 2018. The RRSP contribution deadline is March 1, 2018. Following is the last of our series of a dozen tips to consider as the holidays begin and before this year ends:

When setting your career-related New Year’s resolutions, it’s important to ask yourself a key question: “Do I see myself as an employee or an entrepreneur?”

Congratulations to Barbara Schuster from Investors Group who just graduated from Knowledge Bureau’s Advanced Tax-Efficient Retirement Income Planning self-study course, and had the following comments about her experiences: