It looks like tax season 2026 could be the biggest one we’ve seen in the history of filing in Canada, proving once more that Canadians are extremely tax compliant and that filing a personal tax return is the most important triggers for long term wealth planning in this country. But there is a shortage of qualified people and now is the time to do something about that before tax season 2027.
Last week, we looked at the TFSA helping those who pay taxes on investment income. This week in part 2, we will look at savings opportunities for the middle class.
Taxpayers and their advisors may consider this question more frequently as CRA pushes for more electronic communications, such as the provision of email addresses on this year’s tax return.
The Supreme Court of British Columbia recently ruled that a bankrupt’s contingent entitlement to trust funds was property that vested with the trustee in bankruptcy as part of the bankrupts' estate.