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.

The federal government has confirmed its final numbers to reflect the 2.7% indexing rate to be applied to personal amounts in 2025.  Knowledge Bureau published the amounts several weeks ago, and was within a dollar on most estimations.  Here are the final numbers for year-end tax planning purposes:

Register now for the CE Savvy Summit: 2025 Advanced T1 Personal Tax Update! All the updated knowledge and resources a tax or financial professional needs, including expert instruction on 2024 T1 Completion and Tax Planning for 2025. Virtual and in-person events in select cities this January – register by January 10 early-bird deadline for tuition savings and take advantage of new team member rates to prepare your staff for the upcoming tax season.

These Distinguished Fellows are honored for their distinguished services as influential thought leaders, who have demonstrated a commitment to the noble cause of teaching and writing by engaging others in the high standards of knowledge they share. In doing so, they have also demonstrated an extraordinary commitment to shaping the future of the tax, accounting and financial services industries. Browse our newly updated FDFS™ Directory   and join us in congratulating our 2025 honourees.

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With a score of 2.8 out of three stars, the 2024 Acuity Conference for Distinguished Advisors officially wrapped up in Montreal this week and was met with rave reviews from our attendees! 100% of attendees said they would recommend this conference to others.  Thought leaders, newsmakers and news breakers from across Canada moved the needle in the direction of system change as delegates explored the theme, Safe Havens:  Securing Financial Freedom and Wealth Potential.  Says Evelyn Jacks, President of Knowledge Bureau, “The prevailing consensus pointed to the need to remove obstacles, including regulatory overreach, and to do so with the power of multi-disciplinary collaboration and connection.”   

Dan Kelly, President of the Canadian Federation of Independent Businesses (CFIB) gave an impassioned speech on the efforts to get the federal government to release the $2.5 Billion Carbon Tax Rebate promised to small business owners back in 2019, only to learn that the government planned to tax the rebate as “government assistance” when it finally arrives.  Taxing a refund of tax makes no sense, and the finance department reversed course quickly - the rebate won’t be added to income.  But this is another one of many recent instances in which tax policy appears off base, exasperating the ability to comply with our self assessment system of taxation with certainty.  Other important points from Dan’s speech on Beating Public Policy Barriers to Small Business: