Fuel Excise Tax on Hold But Inflation is Not
The U.S.-Israel war on Iran has thrown global oil prices into turmoil and there is plenty of fallout for consumers. Travelling to Europe this summer? That’s in jeopardy, as jet fuel may run out. Looking for relief at the pumps instead? The recently announced suspended federal excise tax on gasoline, unleaded aviation gasoline, diesel fuel and aviation fuel here in Canada will soften the blow, but only temporarily: it will be zero from April 20 to September 7, 2026. Here’s what you need to know:Win your way to DAC 2017!
It’s been a couple of months since we last ran our trivia contest for a chance to win attendance at the upcoming Distinguished Advisor Conference in Kelowna on November 5-8. So here is the question for August:
The New CE Summits are still the “Best Ever”!
Back in June, we told you that our popular Distinguished Advisor Workshops (DAW) were being renamed to CE Summits to bring you even more expert ideas. In case you missed it, here's everything you need to know:
People in the News
When commenting about the “Understanding Family Dynamics” course, David Bwamiki from Primerica said: “My objectives were met because the course presented real-life examples that I often encounter.”
Morneau’s Proposals Wreak Complexity on Canada’s Entrepreneurs
A Special Knowledge Bureau Report: Buried at the height of summer holidays, the Finance Department has released a significantly complex and potentially punitive proposal to change the integration of the personal and corporate taxation system for private enterprises and provided a mere 75 days to provide feedback.
Proposals Tax Kids Working in The Family Business
The proposed changes to the taxation of private business income and equity, released on July 18, 2017, will affect the income paid to family members who are not actively engaged in the business, as well as limit their access to the Capital Gains Exemption.
Big Change Proposed for Tax on Passive Investment Income in a Corporation
The Finance Department is proposing alternatives to the taxation of passive income earned in a private corporation. This will dramatically alter after-tax income results, essentially taxing the income earned by corporate investing at the top marginal rates and then taxing distributions once more at personal tax rates.
