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:

Receiving a pink slip can be a traumatic event regardless of the workplace. Currently however, federal government layoff discussions are causing uncertainty as departments face budget cuts and restructuring. With proper planning, particularly during tax season, employees can turn this challenge into an opportunity for financial growth and career advancement. Consider the following checklist for conversation starters:

Hot off the presses soon! Knowledge Bureau is pleased to announce it is publishing its 2026 T1 Tax courses featuring the most up-to-date case studies on 2025 professional tax software and updates for 2025 and 2026 tax changes.  They are the most current tax courses available in Canada and best of all, they are available 24/7, online and at workplace training packages that feature customized learning and group discounts. 

Introducing the Business Builder Summit. . .we are excited to launch a new continuing education and professional development program of special interest to independent financial advisors and tax accountants, as well as up-and-coming entrepreneurial team leaders who are striving to build a high-growth financial services practice, but may be struggling to scale it cost effectively. 

Seniors don’t take kindly to the clawback of their OAS (Old Age Security) especially in these inflationary times, but this can happen, especially if there was an unusual receipt of income during the past calendar year.  Here’s what you need to know to explain the consequences for 2025 and 2026:

T4 and T5 slips must be issued by the last day of February, which this year falls on a Saturday. Therefore the deadline is March 2, 2026. Failing to do so attracts penalties for issuers.  However, there is another important aspect of this common compliance issue: the CRA My Account. Are your clients aware of it and checking it regularly for messaging and copies of the Tslips CRA has downloaded? If not, you are in the best position to educate taxpayers on their active use of this important portal to manage their relationship with CRA. Here’s a tip sheet on how to orient your clients:

Canada’s tax and financial services professionals are facing a pivotal moment. As client expectations evolve and advisory practices become more complex, success requires more than technical expertise, it requires leadership, strategy, and a clear vision for growth to evolve from practitioner to CEO of a growing public practice. That is the focus behind the new Business Builder CE Savvy Summit, a collaborative program from Knowledge Bureau and The Personal Coach, designed to help professionals shift their mindset from independent practitioner to CEO of a high-performing advisory business.