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.

A trend appears to have started in balancing provincial budgets, as BC follows Ontario, Nova Scotia, and Quebec in its February 19 budget with the introduction of a "high income surtax" which could, in the absence of planning, increasingly penalize the wealth accumulations of retirees.

Despite an apparent identity theft, a taxpayer was obliged to pay taxes on income he could not prove was over reported. Filed by Greer Jacks, who is researching tax cases EverGreen Explanatory Notes.

The Canada Revenue Agency (CRA) is warning taxpayers that fraudulent emails have been circulating with increasing frequency lately requesting personal information.

Will Canada suffer a housing bubble? Will debt crush the mortgage-strapped in the case of global economic change?

Aside from understanding that Canadian residents are taxed on world income in Canadian funds, there are only a few basics you need to know about the marginal tax rate system in Canada.

Tax is a trigger for most clients. It’s complicated, time consuming and requires the meeting of a deadline. It’s also very expensive: it is the family’s largest lifetime expense.