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.

CRA answered close to 3 million calls this past tax filing season, and 20 million—or over 76% of tax filers—filed electronically this year, an increase of 17% over last year.

One of the most difficult asset transitions can involve the family cottage. In this second of a two-part article in family cottage planning, Knowledge Bureau author David Christianson discusses potential solutions to this sticky issue.

This year’s average tax refund of $1641 takes a big bite out of retirement savings for Canadian families.

The Canada Disability Savings Grant can add significantly to the pensions set up for disabled individuals through the Registered Disability Savings Plan (RDSP).

This excerpt from Evelyn Jacks’ Jacks on Tax outlines the different categories of residency and provides an answer.

If you own a family business, you will undoubtedly experience several people-related crises that may plague the business during its life cycle. Family conflict, divorce, illness, and premature death all represent potential threats. Excerpted from Master Your Investment in the Family Business are some tips and traps you should avoid in crisis situations.