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.
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With mixed feelings of elation and dread, accounting, bookkeeping and tax specialists across Canada begin the annual ritual of preparing for 26 million tax returns.
Do you believe Canada’s tax system based, on self-assessment, has suffered under recent changes at CRA and by Finance Canada? If so, what is the one wish you have for tax reform?