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:

Advisors should inform their high net worth clients of recently enacted changes to tax benefits arising from the use of trusts. 

One of the more difficult decisions for those approaching retirement is when to start receiving their CPP retirement pension. 

Last week we covered Foreign Income Verification Reporting, Form T1135 in general along with the basic requirements of foreign holdings reporting.  This week we’ll look at the form in detail and cover some of the specific reporting requirements.

Substantial tax reform has recently changed the rules for post-death planning for high net worth families.

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

It’s February – no time to waste.