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.

Tax and financial professionals who answered our July poll question had a majority agreement that it is fair that the CRA started to issue legal warnings beginning in July to recover the more than $9 billion of overpaid pandemic recovery benefits like CERB. The consensus is that Canadians need to pay back the money if they weren’t entitled to it. At the same time, many comments pointed to the need for CRA accountability in the roll-out and administration of these programs. Thanks to those who participated – check out the comments below:

Canadians’ relationship with the CRA’s enlarged department has changed substantially, along with the digital environment it operates under.  Add to this a barrage of new tax measures and new powers bestowed on CRA, and it spells Audit Risk.  Tax audit defence is now a key component of every professional’s duty to their clients, including financial professionals, who find themselves answering more tax planning questions as tax accountants focus on tax compliance.  Come up to speed quickly in the comprehensive CE session at the September 18 CE Savvy Summit Virtual Event, as Canadian best-selling tax author and educator, Evelyn Jacks overviews recent new tax measures for:

Ever listened to Canadians on a beach in a far off land thinking about how they can continue to fund their expenses in Canada and abroad? Will they have to sell the home, the cottage or the condo in Mexico to make ends meet? Worse, will new capital gains taxes compound their cash flow problems if they do? These real life decisions would be made so much easier if their financial portfolios could provide a safe haven to cover such unexpected new risks. Join Douglas V. Nelson as he discusses these topics in a session sponsored by BCV Asset Management entitled Managing Retirement Fear Factors at the 2024 Acuity Conference for Distinguished Advisors November 10-12 in Montreal.

Especially for experienced financial services professionals!  Earn a new Certificate in Lifecycle Transitions Planning. Choose 15 from a selection of 80 micro courses with one important focus:  to help you engage more effectively in tax-efficient wealth management conversations during this period of significant – and potentially expensive – tax change in Canada. Customize your CE and your business education to scale your business to the next level of growth.  Why are CE Savvy™ Micro-Course Collections the educational choice of savvy professionals?  Check it out:

According to a July 23 publication by the Fraser Institute, we are getting poorer here in Canada and the prospects for economic growth are looking grim.  This should be of concern to every Canadian concerned about their “real income” – that’s their purchasing power – and by extension - their ability to fund consumption now and for important family milestones in the future:  retirements, education and homeownership.  It’s grim, but there are practical suggestions for a turn around plan. Here’s a synopsis of the report.   

It’s surprising how difficult and frustrating it can be for taxpayers to navigate their digital relationship with CRA.  Figuring out how to make payments to CRA at the local bank without the right remittance forms can be a major obstacle. So can setting up My Account; a requirement to engage you and set up Represent a Client authorizations.   Providing assistance with this is an important way to win the trust of a potential new “client for life”, especially when multiple accounts and filing requirements are involved.   Consider the following: