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:

Do you run an unincorporated small business from your home or office?

Daishowa-Marubeni International Ltd v. Her Majesty The Queen [2013] SCC 29 An important and eliciting tax decision was recently released by the Supreme Court of Canada (SCC) analyzing the difference between liabilities and embedded obligations as well as the role of tax symmetry in the Income Tax Act (the Act).

On April 29, the Minister of Finance, Jim Flaherty, introduced Bill C-60 to Parliament which proposes to implement certain provisions of the March 21, 2013 federal budget.

Part of the Bank of Canada’s Spring Review, released on May 16, included an article titled “Explaining Canada’s Regional Migration Patterns”, which provides interesting data on the effect of demographic migration on economic policies in Canada. It also provides, therefore, important information for professional advisors who wish to more strategically define growth in their practices over the long run.

Unhappy with your dealings with a CRA Auditor? The Taxpayers' Ombudsman can help when the relationship is fraught with communications issues between the taxpayer and the auditor.

If there was one insight I gained as I worked on the Federal Task Force for Financial Literacy is that more than any other single issue, challenges of financial literacy affect every Canadian and bind us together in our mutual need for financial education.