Auto Logs: The Cornerstone of Vehicle Expense Claims

Auto logs are essential for claiming vehicle expenses and travel allowances under CRA rules. Employees, shareholders, and self-employed individuals must follow distinct guidelines, and travel allowances are permitted for specific deductions like moving expenses, medical travel, and northern travel deductions. Trouble is most people have trouble keeping them and can fall into tax audit traps. Here’s a primer on the rules, to know as part of year-end tax planning activities. 

Two pieces of good news for the last quarter of 2025: seniors will get a small raise, but prescribed interest rates at CRA will stay steady after last quarter’s drop in rates. Here’s what you need to integrate into your year end planning activities.

Stand Apart! Enrol now for your one stop, year round tax updating solution.  Knowledge Bureau’s Live Virtual CE Summits for 2025-2026 start the day after the November 4 federal budget.  In a series of four full day events you and your team will have the knowledge, skills and confidence to apply tax preparation and planning expertise to solve tax compliance issues for clients.  It’s the pre-eminent tax training choice for Canada’s Tax Preparers and Financial Advisors.

Financial professionals and thought leaders are gathering for a compelling Meeting of the Minds session tomorrow: “ROI or ROL: Redefining What Real Wealth Means to You.” This complimentary, one-hour virtual event explores a powerful shift in wealth management — move beyond Return on Investment (ROI) towards Financial Peace of Mind – a Return on Life. It’s about aligning financial strategies with purpose and helping clients achieve true peace of mind.

The 2025 Acuity Conference is proud to feature keynote speaker Kim G.C. Moody FCPA, FCA, TEP, FDFS™.   In his session, “Having a Leadership Mindset”, Kim will share why professionals must think beyond technical expertise to lead with vision, courage, and purpose.  See the full agenda and register by the September 30 early-bird deadline on the official conference site!

Effective October 1, 2025, important changes will be made to the Voluntary Disclosures Program (VDP) at the CRA in order to make it easier for taxpayers to correct unintentional filing errors or omissions. The details on how the changes will affect your clients are being discussed in the CE Summit held September 17 and this course is now available for online enrolment and CE accreditation, after the virtual event. Here are some highlights of the changes.

Important news for tax and financial advisors: the over 65 demographic may not be as affluent as some might think; yet they still pay a lot of income tax. Canadian seniors sent just over $58 billion to the government in the form of income taxes in 2023, the last year for which statistics are available. It works out to an average of more than $12,000 per person. It leaves the average after tax income for those over 65 in Canada at just over $45,000.