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:

The Canada Revenue Agency (CRA) has announced a May 5 tax filing deadline extension and an arrest has been made in the "Heartbleed Bug" matter.

Canadians have become real red wine connoisseurs, but we still like our home grown beer, too. According to Statistics Canada, alcohol sales throughout the country in 2013 rose 2.2% from 2012, but a change in what Canadians are buying at the liquor store is noticeable.

When the Canada Revenue Agency (CRA) errs, can they correct, reassess and require payment even if this is unfair? Apparently yes, based on a recent court case.

Canada is devastated at the loss of its great Finance Minister, Jim Flaherty, who few would argue was a truly wonderful soul.

Many people have taken advantage of the real estate market drop in the U.S. and have purchased U.S. real estate for personal use or as a rental property, but many do so not realizing what owning this kind of property means from a tax perspective.

Child care expenses are claimable on form T778 by Canadian residents for services provided by any of the following in Canada (although deemed residents may qualify as well).