With the rising cost of transportation, meals, clothing, and other work-related expenses, many Canadians are questioning whether the Canada Employment Credit, set at $1,501 for 2026, still reflects the real cost of earning employment income. Tax professionals, employers, and taxpayers continue to debate whether the credit should be increased, restructured, or replaced altogether. When our poll asked if the Canada Employment Credit should be increased, 87% said yes. Below are perspectives shared by tax and financial professionals across the country.
Join Evelyn Jacks and special guests for a weekly podcast delivering real tax news people need to know. It’s been quite the journey for taxpayers who own assets like cottages and businesses. In this first episode of Real Tax News: “Capital Gains Chaos Gets a Reprieve” featuring Geoff Currier, find out the latest PLUS the Definition of True Wealth.
Knowledge Bureau hosted its first half-day Mini CE Summit which focused on Rookie Tax Training to bring Canada’s Income Tax Fundamentals course to life, and surprisingly, it was well attended by seasoned pros as well.
Last week, it was announced that the capital gains inclusion rate increase would be postponed to January 1, 2026. How can you advise your clients on this now?
On January 23 , Finance Canada released draft legislation to confirm the extension of the charitable donation deadline for the 2024 tax year to February 28, 2025. However, this law won’t be passed until the House of Parliament returns from the prorogue.
Breaking News - From Finance Canada today - a postponement of capital gains inclusion rate increase from June 25, 2024 to January 1, 2026—the new date on which the capital gains inclusion rate would increase from one-half to two-thirds on capital gains realized annually above $250,000 by individuals and on all capital gains realized by corporations and most types of trusts.
New! Get hooked on preparing income taxes for tax season 2025 with dozens of true-to-life case studies using professional tax software to build your confidence. It’s Knowledge Bureau’s Canada’s Income Tax Fundamentals, now available for online training. It features a dynamic 3 hour instructional overview - worth the price of admission on it’s own plus personal instructor support! It’s perfect for anyone new to personal tax filing - really valuable for career development in tax preparation or financial services. Here are the details.
Join Evelyn Jacks and special guests for a weekly podcast delivering real tax news people need to know. It’s been quite the journey for taxpayers who own assets like cottages and businesses. In this first episode of Real Tax News: “Capital Gains Chaos Gets a Reprieve” featuring Geoff Currier, find out the latest PLUS the Definition of True Wealth.
Knowledge Bureau hosted its first half-day Mini CE Summit which focused on Rookie Tax Training to bring Canada’s Income Tax Fundamentals course to life, and surprisingly, it was well attended by seasoned pros as well.
Last week, it was announced that the capital gains inclusion rate increase would be postponed to January 1, 2026. How can you advise your clients on this now?
On January 23 , Finance Canada released draft legislation to confirm the extension of the charitable donation deadline for the 2024 tax year to February 28, 2025. However, this law won’t be passed until the House of Parliament returns from the prorogue.
Breaking News - From Finance Canada today - a postponement of capital gains inclusion rate increase from June 25, 2024 to January 1, 2026—the new date on which the capital gains inclusion rate would increase from one-half to two-thirds on capital gains realized annually above $250,000 by individuals and on all capital gains realized by corporations and most types of trusts.
New! Get hooked on preparing income taxes for tax season 2025 with dozens of true-to-life case studies using professional tax software to build your confidence. It’s Knowledge Bureau’s Canada’s Income Tax Fundamentals, now available for online training. It features a dynamic 3 hour instructional overview - worth the price of admission on it’s own plus personal instructor support! It’s perfect for anyone new to personal tax filing - really valuable for career development in tax preparation or financial services. Here are the details.
