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.People in the News
A Referral that Really Paid Off: Chris Valentine, ON, Master Financial Advisor:
Life Purpose
“We cannot hold a torch to light another’s path without brightening our own.” Ben Sweetland
What Expenses Can Commission Salespeople Claim?
Employees who earn their living negotiating contracts for their employers or selling on commission may claim certain itemized sales expenses. In all cases, however, receipt keeping is key; as is the availability of employer-signed Form T2200 Declaration of Conditions of Employment in case of audit.
Pre-Budget Analysis: Finance Canada Priorities
A Federal budget date is expected soon after Prime Minister Trudeau and Finance Minister Morneau return from this week’s meetings with the new U.S. administration.
Understanding Your Credit Score and Credit Worthiness
Which Canadian age group has the best credit scores? Which has the worst? What is yours and how can you improve it? Knowing what is in your credit report is important. If you have a poor credit history, it could be harder for you to get a credit card or a loan. It could even affect your ability to rent a house or get hired for a job.
Cross Border Tax Changes for 2017
Several new tax filing changes should be noted by advisors working with Canadians who have assets in the United States or U. S. citizens living in Canada.
