New Consultations: Modernizing Tax Rules for Charities

As the last remnants of a scrumptious Thanksgiving weekend subside, it is appropriate to take a look at the health and issues surrounding the charitable sector in Canada.  Serendipitously, the federal government is seeking your views on how the tax rules for registered charities and the Canada Revenue Agency’s (CRA) administration of these rules could be modernized.  A new consultation was launched on October 8 and here’s what the government wants to know, by December 3, 2026:

Advisors working with individuals, investors and business owners, the final months of 2026 bring together personal tax changes, investment decisions, owner-manager compensation, cross-border considerations, charitable giving and planning for retirement and estates. This year is particularly interesting as the world braces for the results of the U.S. Mid terms on November 3.  For these reasons, Knowledge Bureau has assembled a Tax Powerhouse for its  November 5 CE Savvy Summit.  Register by October 22 to hear and learn from these experts:

Caregiving can have significant implications for a family’s finances, retirement plans and overall well-being, but how often does it become part of the financial planning conversation before a family is already facing it? At the 2026 Acuity Conference for Distinguished Advisors, Erin Roy, CFP®, Principal and Market Leader for Western Canada at Edward Jones, will lead a discussion on the financial realities of caregiving alongside Jack Groucott, CFP®, Financial Advisor and Planner, and Liz da Mata, CFP®, DFSA™, Financial Advisor. The session, sponsored by Edward Jones, takes place November 24 in Victoria, B.C.

In your view, should Canadians be able to write off more of their out-of-pocket medical expense costs? What amount would be appropriate?  

In observance of Canada’s National Truth and Reconciliation Day, September 30, Knowledge Bureau will be closed, to allow staff and students to remember and honour Residential School Survivors, their families, and those who never returned home and reflect on their personal participation on the Journey to Reconciliation.     

It’s an expensive trend and a big wealth eroder: More people owe larger amounts to the CRA at tax filing time and the interest and penalties collected by the taxpayer are increasing[1]. Tax and financial advisors can bring a big value added service to their clients by helping them mitigate these costs. To make matters worse, these costs are not tax deductible either, even if the underlying reason for them is a business tax liability.

The new federal government’s Workplace Retention and Retraining Program (WRRP) is designed to help businesses keep and retrain workers and provide employers, with up to $1,000 available for each employee to help with training costs. The WRRP was announced on August 25, 2026 and will run until March 31, 2028. Employers can access up to 152 weeks of support. This program may apply to your business or those of your clients. Take a look at the new provisions: