Confirmed: The CCR for Small Business is Tax Free
Ottawa has confirmed that the CCR for Small Business received by eligible Canadian-controlled private corporations (CCPCs) will be tax free for the 2019-20 to 2023-24 fuel charge years, as will the final payment for the 2024-2025 fuel charge year. Draft legislation was released on June 30, 2025 with this announcement; and will be introduced for law making in Parliament this Fall. Some of the more significant details are discussed below.Tax Processing Logjam 2021 Ends for Teachers & Others
Bill C-8 received Royal Assent on June 9, signalling the imminent release of held back 2021 tax returns for those taxpayers making new claims in three specific profiles: educators, northern residents and farmers. In addition, small business owners will be able to claim a new tax credit for building ventilation improvements and non-resident real estate holders will pay more taxes to Canada in 2023. Here’s what you need to know:
New Climate Action Incentive – Is Anyone Ready?
Residents of Alberta, Saskatchewan, Manitoba, and Ontario received the full-year Climate Action Incentive for 2021 when they filed their 2020 tax returns. Eligibility was based on their province of residence and family situation as of December 31, 2020. Did you know that for 2022, everything has changed?
Business Owners: Claim the Small Businesses Air Quality Improvement Tax Credit
The Small Businesses Air Quality Improvement Tax Credit is now law, and it could be a lucrative return for those who improve their business premises. The business owner can also reach back and make the claim for expenses incurred in 2021. Details follow:
Defining New Realities: Headliners at DAC 2022 Are Truly Outstanding
This year’s thought leaders will be taking the stage at DAC Acuity 2022, October 16-18 in Niagara Falls to discuss the theme “Velocity: How to Gain Momentum in the New Economy”, as we move into a crucial time that requires defining new realities and taking new financial strategies with clients in the ever evolving new economy. Learn more about the speakers and their topics you can’t miss! RSVP now, and take advantage of early-bird tuition rates – only until August 31.
Protecting Client Privacy is Ethically and Morally Essential in Business
In the digital era of networking and cyberspace, establishing ethical standards for privacy is especially urgent. The collection of your client’s very personal and financial information, usually through electronics has brought privacy to the forefront of everyone’s mind. The people submitting the information and those collecting the information should be extremely concerned about privacy protection and compliance.
MFA-P Discovery Seminar: How Can Advisors Build Their Business by Supporting Their Community?
Professional advisors and charity professionals all focus and spend time in our individual specialty areas. On June 23 at 12 PM CST/ 1:00 PM EST, let’s spend some time discussing how these professionals can work collaboratively to enhance the client/donor experience with panelists MFA-P™ alumni Candice Jay and Aneil Gokhale. RSVP now for this complimentary MFA-P™ Discovery Seminar.
