Spring Economic Statement: April 28, 2026

April 15, 2026: Ottawa, Ontario - Yesterday, the Honourable François-Philippe Champagne, Minister of Finance and National Revenue, announced that he will table the Spring Economic Update 2026 on Tuesday, April 28, 2026. In the Spring Economic Update 2026, the government will provide an update on its plan to build the strongest economy in the G7, and outline additional actions taken to drive prosperity, play to Canada’s strengths, and support Canadians where and when they need it most.

The recent financial crisis has caused a crisis of another kind for financial advisors, a loss of trust and credibility by millions of clients who are now looking for more qualified people to manage their succession and estate planning decision. 

Oct. 1 was National Seniors Day in Canada and the treatment of Canada's seniors is on the mind of Diana Juricevic, a member of the British Columbia Human Rights Tribunal and a speaker at this year's Distinguished Advisor Conference.

Knowledge Bureau Report readers do not dispute the value of education; it is the future - for our children and our country. And most agree that affordable post-secondary education is important if we are to have a world-class workforce and a vibrant economy. But not all agree Canada's overburdened taxpayer should bear the cost.

As part of its election platform, Quebec's Parti Quebecois promised to eliminate the $200-a-person health tax for 2012. Now, in an attempt to recoup lost revenue, the newly elected minority government has proposed a number of changes.

Are you using your operating line of credit to buy the kids a big-screen TV? Are you also using it to fund your investment activities? Come tax-filing time, this may be a problem. The cost of borrowing to invest is a legitimate income-tax deduction. The cost of financing the purchase of a TV, however, is not. So, if you want to deduct the interest paid on your line of credit as a carrying charge, you will need to keep your borrowings separate and traceable. The onus, then, is on you to establish that the borrowed funds are being used for the purposes of earning income ó from a business (this is claimed on a business statement) or from an investment in property, real or financial (claim on your Rental Property statement or on Schedule 4 ñ Statement of Investment Income).  The Canada Revenue Agency (CRA) will want to see a direct link between your borrowing and the resulting earnings, although there are some exceptions to this rule. Remember that interest is not deductible if the loan is used to acquire a life insurance policy or property that produces tax-exempt income, or if you borrow to contribute to a registered retirement savings plan (RRSP), a registered education savings plan (RESP), a registered disability savings plan (RDSP) or a Tax-Free Savings Account (TFSA). If you borrowed to buy securities ó such as common shares or mutual funds ó for your non-registered account, you face another hurdle. Because common shares or mutual funds generally do not carry a stated interest or dividend payment, the interest costs on the loan may not be deductible. The CRA will generally allow you to deduct interest costs on funds borrowed to buy common shares if there is a reasonable expectation that those shares will pay dividends, whether or not they are actually do. But each case will be assessed individually upon audit. You should also know that if the source of the income for which you borrowed no longer exists or has substantially diminished because the investment has lost significant value, you will be able to continue writing off the interest on the loan as if the underlying asset still existed. It's Your Money. Your Life. If you must be in debt, make sure the money you borrow is put to work to earn income and your interest payments are clearly traceable. That way those costs will be tax deductible. It makes those interest payments a bit easier to swallow. Evelyn Jacks is president of Knowledge Bureau, whose curriculum includes wealth-management and income tax-preparation courses. You can also offer Knowledge Bureau financial education books to your clients or family members. For more information, click here.   Additional Educational Resources: Introduction to Personal Tax Services Preparation and Advanced Tax Prepararation and Research.  

Knowledge Bureau Report readers do not dispute the value of education; it is the future ó for our children and our country. And most agree that affordable post-secondary education is important if we are to have a world-class workforce and a vibrant economy. But not all agree Canada's overburdened taxpayer should bear the cost. KBR's September poll noted that the pressure to increase university tuitions is growing if universities are to meet the cost of infrastructure and curriculum improvement. That would make university educations inaccessible for lower-income families. So, the poll asked, "Should university tuitions remain low in order to accommodate all students?î Of the 129 readers who responded, a resounding 71% agreed university tuitions should remain low and accessible for lower-income families. But even among the 29% who voted "No,î their aim was not to deny lower-income families access to education but to find creative solutions to the growing cost of education. Judging by the more than 70 comments left on the Knowledge Bureau website, readers link education and prosperity, both at an individual level and a national level. As Larry said: "Higher education leads to prosperity for our nation.î And whether they are in the "Yesî camp or the "Noî camp, readers believe no one should be denied an education because they don't have the money. As accounting professional Trenholme Lodge says: "Education is the country's future and should be available to all at a low cost. This country needs this approach.î Zafar agrees: "We need an educated Canada and post-secondary education must be accessible by the poor.î Adds another reader: "Of all the things that our governments waste money on, education is not one of them. We need all children to be able to receive a good education and not have the barriers of high tuition costs keep them from pursuing their dreams.î No one disagrees with that sentiment; the greater concern is how we, as a society, pay the growing cost of post-secondary education. "The taxpayers can only afford so much,î says a reader from the "Noî camp, "and we already do subsidize post-secondary education.î As Beatrice Grant put it: "We live in a world today that cannot continue to subsidize and put governments in the red. We have to pay as we go along ó and this goes for students in university.î Some readers suggested that one answer is to cut administrative costs, and some perceived professors are paid too much while some believe that if we want to attract top-notch professors, universities need to pay them more. Many believe there should be more merit-based scholarships and grants that will help students shoulder the cost of a university education. And some mentioned the value of programs that blend paid work and university attendance. Another solution, said other readers: make student loans more accessible by raising the family-income ceiling for loans and by lowering the amount of interest changed on the loans. Dave McGruer suggested something more radical: "Universities should be cut loose from government controls so they can flourish on merit and in economic reality. Competition will ensure quality and allow for different cost models to flourish.î Whether education is free or low-cost, readers agree it should be universally accessible. The quandary is just how to deliver high-quality education that is affordable. Knowledge Bureau Report would like to thank all the readers who responded to the September poll. We look forward to your comments to our October poll.   Additional Educational Resources: The Smart, Savvy Young Consumer and Financial Recovery in a Fragile World books.