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:

Canada’s corporations have indeed increased the amount of cash on their balance sheets but it is a survival strategy, not an avoidance strategy, says the C.D. Howe Institute.

A number of recent numbers from Statistics Canada testify to gently improving economic conditions.

The Bank of Canada has advertised the position of governor, which will become vacant in June when the present governor, Mark Carney, departs for the Bank of England.

You may not be able to control the economy but you can control the amount of income taxes you pay.

Goodwill can be “eligible capital property” under the Income Tax Act, explains Greer Jacks in this second of two parts on goodwill.

Yes. The government imposes income taxes on non-residents who earn income in Canada and/or dispose of Canadian property.