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:

When is the inheritance from your U.S. based parents taxable and in which country?

Lots of people like to dabble in real estate when markets are hot. The issue for tax filing purposes is whether you held the property for personal use, as a passive investment or whether you are in fact in the business of buying and selling real estate.

Capital losses are important. They can offset capital gains of the year, the prior three years or any future year.

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