Confirmed:  The CCR for Small Business is Tax Free

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.

Tax and financial advisors should make an effort to review their clients adjusted cost base records as part of the annual Year-End Tax Planning routines now 'til the end of the year, especially if the family owns a taxable cottage property. 

Learn how to expertly advise business owners about year-end tax planning and the best way to manage after-tax family income and the investment in the family business to meet future goals at the Year-End and Business Succession Planning Bootcamp this November.

Fall is the perfect time to focus on professional development. Take advantage of a number of upcoming live events and earn valuable CE credits with Knowledge Bureau.

On October 9, 2014 the Federal government made good on an April 2011 election promise and increased the Child Fitness Tax Credit to $1,000 from the previous maximum of $500. 

On October 7, 2014 the final piece of the puzzle was put in place to allow federally regulated PRPPs to become a reality across Canada.

Last week we reported on the New Small Business Job Credit will provide savings to small businesses through a reduction in EI premiums. This week, we’ll show you how employers will benefit.