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:

Last week I shared some tax tips that will help you as you plan your children's activity agendas for the year. This week I provide some tips on claiming credits for others expenses such as child care, medical, and transportation as well as how to recover refunds or missed claims.

Back in 1980, unanimously, and without much debate at all, Parliament enacted Section 347 of the Criminal Code with the objective of combating “loan sharks”.

Planning ahead can ensure more of your financial legacy remains intact once you’ve continued on with your journey.

You can use a 0% capital gains inclusion rate, rather than the normal 50% rate when transfer qualified securities to your favorite charity, including a private foundation.

So, you have identified a business that you would like to acquire, but you are not sure which method you should use to do so, and how to best structure the deal to best avoid the tax man.

To cushion errors in contributions due to fluctuating RRSP room, an over-contribution limit of $2,000 is allowed without penalty, provided you are at least 18 in the preceding taxation year.