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.

There is good news for business owners who continue to struggle through the pandemic:  CEBA loan repayments have been postponed for a year.  Here are the details: in light of the new developments of the Omicron variant of Covid-19, the Federal Government is preparing a battery of measures to assist Small and Medium-sized Businesses.

Hello and Happy New Year! Welcome to a new column, which I am excited to share with you.  The purpose is to think about the practical applications arising from tax and economic issues of the day and what impact they have on the lives of your clients.  Today, my musing are about Getting the Right Outcomes.

You may have missed the news during the holiday hustle, when the federal government announced an expansion to the Canada Worker Lockdown Benefit (CWLB).  There are  also new tax filing  deadlines to be aware of.   Here are the details:

Did you know that Knowledge Bureau is a private, educational institution certified by Employment and Social Development Canada (ESDC) to provide courses that develop or improve skills for those working in the tax, bookkeeping, accounting, and financial services industries? What this also means is that Knowledge Bureau students who have paid  tuition fees in excess of $100 in 2021 qualify for the tuition fee amount, and the T2202 tax slips to claim this are now available in your Virtual Campus.

Canada’s most comprehensive and popular advanced personal tax update is taking registrations for just one more week! It’s a blended learning experience that starts with the January 19 live virtual event, and also includes an online course which is available to attendees until February 28. Plus, you’ll receive what our delegates call the “Tax Bible” – the comprehensive desk top reference coveted by tax and accounting professionals from coast to coast. Register now for the January Virtual CE Summit!

2021 was a year of personal physical, mental and emotional life triggers, coupled with many economic and financial changes.  How can just one financial professional ensure that their client's holistic wealth management plan is focused on tax efficient wealth sustainability with so many triggers at once? Join the Society of Real Wealth Managers™ and seven special guests for the next Meeting of the Minds: 360 Degree Trigger Tour on February 2 at 10 AM CST. These Real Wealth Managers™ will share the timely triggers that may be impacting your clients’ holistic planning solutions in 2022 and why Real Wealth Managers™ are poised to help.