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:

Provincial and territorial budget dates have yet to announced for Ontario (expected the first week in May), Prince Edward Island (expected soon after the legislature opens in April), and Nunavut (expected late in May),

Because of the way that dividends are taxed, both at the federal level and the provincial level, the amount of tax payable on a given dividend depends of the taxpayer’s taxable income (as well as their province of residence).

It’s crunch time when it comes to tax filing. Most taxpayers will have received all their T slips – T4s, T3s, T5s, etc. and now it’s time to actually get it done.

There has been a lot said and written about the state of the middle class, with some people claiming that we are worse off now than we were 30 years ago.

Virtual currencies are becoming more and more popular and tax authorities throughout the world are considering how to handle them.

Knowledge Bureau's faculty and authors have been busy in the media this week!