November 2025 Poll

Do you believe the November 4 Federal Budget addressed the key financial issues your clients need to see from their Finance Department and the CRA?

In Canada, pursuing post-secondary education can be expensive, but there are valuable tax relief measures to help ease the financial burden. One of the most important is the Tuition Tax Credit, which remains available even though education and textbook amounts were eliminated for tax years after 2016. For students of all ages, this credit can make education more affordable and help reduce income tax owing.

At Acuity 2025, Tony Mahabir, MBA, CMC, CIM, RRC, RWM, CFP, FDFS™, CEO and Private Wealth Manager, will lead a session titled “Heralding and Embracing Change.” A repeat motivational speaker, Mahabir at the annual conference for Distinguished Advisors, focuses on how financial planning can transform lives—especially in times of uncertainty.

Canada has historically presented an annual budget since Confederation in 1867, even through periods like World Wars and the Great Depression, but we have recently experienced the longest period without a full federal budget in our history. By the time the next one is brought down, expected in October 2025, it will have been 18 months since the controversial April 2024 budget which introduced the doomed capital gains inclusion rate hikes. What can we expect?

It’s no surprise to you that the Canada Revenue Agency is far from peak efficiency. Difficulty reaching an agent, long delays in getting information, and inconsistent service have finally caught the attention of the minister responsible for the agency that collects our taxes. Over the past 50 years, Canada’s Income Tax Act has grown increasingly complex, making it harder for average taxpayers to file their own returns. When you add CRA’s service shortcomings to the mix, the result is clear: your expertise has never been more essential.

Government job grants are reopening, and that means your organization may be eligible for significant funding to train new or existing employees. Knowledge Bureau’s accredited programs qualify under these initiatives—whether you’re preparing for the upcoming tax season or helping your staff specialize in new areas. This is also valuable information to share with clients, many of whom may benefit within their own firms. The Canada-Manitoba Job Grant opened and closed this week in the blink of an eye, but those in other provinces can still explore funding options.

Tax and financial professionals overwhelmingly support raising the Canada Deposit Insurance Corporation (CDIC) coverage limit, but many argue the proposed $150,000 per deposit category still falls short. In our recent KBR poll, 95% of respondents favoured an increase, yet most recommended either indexing to inflation or moving directly to $250,000 to better protect today’s depositors. The numbers speak for themselves: the vast majority of respondents favour stronger protection for depositors. But their comments also highlight deep concern about whether $150,000 is sufficient in today’s economic climate.