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:New BPA: Poll Says ‘No’, It Doesn’t Improve Tax System
The new Basic Personal Amount proposed on December 9, 2019 is very complicated. The calculations on the TD1 forms and their accompanying worksheet will challenge even those with pride in their financial literacy. What do tax and financial advisors think: is this tax change an improvement to our tax system? You may be surprised at the verdict in last month's poll.
B.C. Regulators Ban Charitable Gifts of Life Insurance
Life insurance and Estate Planning professionals across the country were recently shocked to discover that traditional gifting of life insurance policies to charity is now considered “trafficking” by the British Columbia Financial Services Authority.
Sharing the Love: Announcing the Gratitude Contest Winner & Your Valentine’s Day Gift
The news is big: first, we are delighted to announce the winner of a free registration to The DAC Acuity Conference in Niagara Falls this October 28-30. Next, we have a Valentine’s Day gift for you! And last but not least, something to make you smile: check out the DAC photo gallery of the highly successful 2019 DAC in Puerto Vallarta. Guess who had the most fun?
Attendees Rave About the CE Summit Knowledge Journal: Get Yours!
Did you miss the Winter CE Summits? You can purchase the CE Summit January Advanced Tax Update Journals for your team for only $395. Plus, you get the new assignments included for free. Here's why Winter attendees encourage you to get yours:
Charitable Donations by Will: Income or Capital?
Last week at the CE Summits in Vancouver, an interesting question arose with regards to the deductibility of gifts left by a deceased taxpayer to a specific charity in his will. Would that specific bequest qualify for the donations tax credit on the final return, a trust return or both? It turns out, the answer may be neither.
Tax Changes for Employees in 2019
A number of tax changes for employees have been implemented for the 2019 tax filing year which officially begins on February 24 when the CRA opens their electronic gates for EFILE transmissions. What should you know before the tax season begins?
