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.

New legislation introduced on October 29 will require a registered charity that provides reproductive health services to disclose if, at a minimum, it does not provide the contact information for an abortion services provider and a birth control service provider.   The new tax rules will apply 90 days after Royal Assent and information disclosure requirements will apply starting in the 2025 taxation year.  Here’s what you need to know:

At the Acuity Conference for Distinguished Advisors in Montreal November 10-12, an award will be given to The Advisor of the Future. This is an individual who epitomizes the adoption of a new model to best serve the needs of multi-generation families through their commitment to educational achievement and high standards of conduct. We are so pleased to announce that this year’s Advisor of the Future Award Winner is Stefanie Keller, CFP, RWM™, FDFS™ and CEO of Stellar Wealth and Tax Solutions.

We’ve got a spooky Halloween Special Just for You! Be sure to take advantage of this scary great deal by midnight on October 31! This is your opportunity to earn widely recognized specialized credentials as a Distinguished Master Advisor (DMA™), and save $300 when you register in any DMA™ course of your choice.

Just over a week to go until the 2024 Acuity Conference for Distinguished Advisors in Montreal, November 10 – 12,  and we would like to recognize and bring special honour to the distinguished sponsors who have helped to make this year’s conference in Montreal an event to remember! Learn more about each of the organizations partnering with us for Acuity 2024 on our Sponsor page and browse their thought leadership sessions in the detailed agenda.

Canada’s inflation target is now back to 2%, resulting in a half a point cut to the Bank of Canada’s benchmark rate t to 3.7% from 4.25% this week.  That’s good news for those managing or acquiring debt, and for spouses wishing to do some investment income splitting in the new year. This is especially important now that each individual has a $250,000 threshold for claiming capital gains at a 50% inclusion rate.   Here’s how it works:

Do you prepare and file information slips for clients? If so, make sure to include an early December 2nd closure of electronic services in your scheduling. Slips that are filed late or using the incorrect method will result in financial penalties to your business. The hard stop will be December 1st  and services will not reopen until January 13th, 2025. In addition to the earlier shut down, information returns filed after January 1, 2024, containing five or more slips must be filed electronically.