Fuel Excise Tax on Hold But Inflation is Not

The U.S.-Israel war on Iran has thrown global oil prices into turmoil and there is plenty of fallout for consumers. Travelling to Europe this summer? That’s in jeopardy, as jet fuel may run out.  Looking for relief at the pumps instead? The recently announced suspended federal excise tax on gasoline, unleaded aviation gasoline, diesel fuel and aviation fuel here in Canada will soften the blow, but only temporarily: it will be zero from April 20 to September 7, 2026. Here’s what you need to know:

Last week in Part 1 of CPP - Now or Later, we discussed that one of the more difficult decisions for those approaching retirement is when to start receiving their CPP retirement pension.

According to an  article posted on the Canadian Revenue Agency (CRA) website, an Ottawa woman was recently sentenced to 30 days house arrest and ordered to pay a fine of $47,789 due to false statements made on her income tax return.

Before the Family Tax Cut provisions it was straightforward, a given RRSP contribution was always more beneficial if claimed by the higher-income spouse.

Have you reserved your spot at the 2015 Distinguished Advisors Conference (DAC) yet?  

Faline Linstone from Kamloops, BC recently completed the T1 Professional Tax Preparation - Basic course to upgrade her qualifications, and she met all of her objectives.

This is a good time of the year to discuss family health – with your tax advisor!