New Mega Deduction a Good Start, But More Tax Reforms Are Needed

The Federal government has unveiled a Productivity Mega Deduction, which will provide immediate expensing under Capital Cost Allowance (CCA) provisions for a broad range of depreciable property, importantly on a permanent basis, for acquisitions on or after September 15, 2026. Check out the noteworthy exclusions are listed below. This tax reform is a good start, but much more needs to be done, especially for small business owners and average taxpayers to make Canada truly competitive across our tax base.

The Tax Efficient Retirement Income Calculator is a powerful tool that advisors can use virtually every day in almost any retirement scenario. The calculator provides an easy way to quickly see if a client is able to meet their after-tax retirement income goals based on any combination of income. 

To limit regulatory burdens on small businesses imposed by the federal government and to make the relationship between Canadian small businesses and the federal government more transparent, accountable, and predictable, CRA has announced more improvements to its “Red Tape Reduction Program” this month, primarily through the improved use of technology.

Knowledge Bureau is pleased to introduce a one year certification and designation program entitled Fast-Track.

Stephen Covey was right...it pays to sharpen the saw.[1]

Canadian National Railway Company v McKercher LLP and Gordon Wallace, 2013 SCC 39

Self-employed taxpayers who are receiving a CPP retirement pension must continue to contribute to CPP until they are at least 65.