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.

To everything there is a season. . .and, unfortunately within a circle of life, illness may arise. This event may in fact require an inter-advisory team of financial professionals to help your loved one transition from capacity to incapacity.

Imagine this true-to-life situation: A single daughter brings her stricken mother into her home to care for her after she has suffered a stroke.

Since 2004 certain members of the Canadian forces or a Canadian police force serving on a deployed operational mission that is assessed at a high risk level. 

According to Services Canada, this depends on your age and your years of residence in Canada.

Don's incredulous. He’s a do-it-yourself investor and he has had a bad several years. His half a million dollar RRSP portfolio is now worth $250,000. He wants to know: What does it take to recover and re-accumulate $250,000 over the next ten years—the time Don has left until retirement?

The acquisition of a revenue property is often a good way to increase net worth. If you are planning to take on a rental property, be sure to keep the tax implications in mind. Rental properties are often audited.