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Financial Issues & Answers for Everyone

A thorough analysis of today’s financial news—delivered weekly to your inbox or via social media. As part of Knowledge Bureau’s interactive network, the Report covers current issues on the tax and financial services landscape and provides a wide range of professional benefits, including access to peer-to-peer blogs, opinion polls, online lessons, and vital industry information from Canada’s only multi-disciplinary financial educator.

This Week’s Edition of KBR:

This Month’s Poll

In your view, should Canadians be able to write off more of their out-of-pocket medical expense costs? What amount would be appropriate?

Yes: 51 votes

94.44%

No: 3 votes

5.56%

Cast Your Vote

More Taxpayers Owe More in Penalties and Interest

It’s an expensive trend and a big wealth eroder: More people owe larger amounts to the CRA at tax filing time and the interest and penalties collected by the taxpayer are increasing[1]. Tax and financial advisors can bring a big value added service to their clients by helping them mitigate these costs. To make matters worse, these costs are not tax deductible either, even if the underlying reason for them is a business tax liability.

New! Workplace Retention and Training Program

The new federal government’s Workplace Retention and Retraining Program (WRRP) is designed to help businesses keep and retrain workers and provide employers, with up to $1,000 available for each employee to help with training costs. The WRRP was announced on August 25, 2026 and will run until March 31, 2028. Employers can access up to 152 weeks of support. This program may apply to your business or those of your clients. Take a look at the new provisions:

New Senior Tax Specialist Diploma Program

In your role as Senior Tax Specialist, you'll support clients who have tax questions and new hires who need help answering them. You’ll lead your growing team with your expertise and mentorship. The CE Summits bring Canada's most comprehensive and holistic tax training to you - live, virtual and peer-to-peer - so you can stay ahead of new tax, financial and estate planning challenges. It also brings recognition to you with a new diploma when you have taken all five programs: The Senior Tax Specialist Diploma.

Enough Relief? Fuel Tax Holiday Extended

In response to the high costs of fuel, the Finance department has introduced by Bill C-38 which will extend the temporary suspension of the federal fuel excise tax until January 31, 2027. Unfortunately, the relief will then phase out, just as inflationary pressures mount with rising gasoline prices. Here’s what you need to know:

Q4 - Indexation of OAS and Prescribed Interest Rates

Two pieces of good news for the last quarter of 2026: seniors will get a small raise, but prescribed interest rates at CRA will stay steady for the last quarter of 2026. Here’s what you need to integrate into your year end planning activities.

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Knowledge Bureau News Network

Financial Issues & Answers for Everyone

This Week’s Edition of KBR:

This Month’s Poll

In your view, should Canadians be able to write off more of their out-of-pocket medical expense costs? What amount would be appropriate?

More Taxpayers Owe More in Penalties and Interest

New! Workplace Retention and Training Program

New Senior Tax Specialist Diploma Program

Enough Relief? Fuel Tax Holiday Extended

Q4 - Indexation of OAS and Prescribed Interest Rates

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