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.

Canadians were treated to new technology this year and embraced it soundly: 7.3 million individual requests were received by CRA’s digital service Auto-Fill My Return, and 87% of all returns filed to May 15 used NETFILE or EFILE. However, you may be hearing complaints about smaller tax refunds this year. The averages appear to bear that out.

June 15 is an important tax filing deadline for seniors, investors and proprietors. The second quarterly instalment payment for the year is required on this date. So is the filing of the T1 return for proprietors and their spouses. It can be an expensive day, so it’s important not to delay in determining the amounts payable, especially since CRA has new resources to enforce delinquencies.

Approximately 7,600 Canadian Armed Forces personnel leave the Canadian Armed Forces every year with significant tax-free resources for their future. This number includes about 1,000 personnel released for medical reasons beyond their control. They could use your help.

"There is learning in every experience. Change your attitude about your presumed outcome and simply ask yourself, what did I learn from this experience?"   — Debbie Donsky, educator and principal in York Region

Many Canadians have properties in the U.S. and regularly spend time there. Unfortunately, many of them also tend to take an “ostrich” approach to the related tax issues. That can be very expensive in the long run. If you are a tax or financial advisor serving snowbirds or other clients with U.S. assets, it is imperative to take a proactive approach to protect their wealth from the tax consequences in multiple jurisdictions.

Income earned by an estate during any tax year must be reported as a T3 return. Knowledge Bureau’s new T3 Basic Tax Preparation course will help students learn who should file a T3 return, as well as when and how best to file it. The course also introduces the types of trusts that may be created in Canada and how each of them is taxed.