Spring Economic Statement: April 28, 2026

April 15, 2026: Ottawa, Ontario - Yesterday, the Honourable François-Philippe Champagne, Minister of Finance and National Revenue, announced that he will table the Spring Economic Update 2026 on Tuesday, April 28, 2026. In the Spring Economic Update 2026, the government will provide an update on its plan to build the strongest economy in the G7, and outline additional actions taken to drive prosperity, play to Canada’s strengths, and support Canadians where and when they need it most.

You may have noticed more of your clients expressing dismay over the high amount of taxes owing this April 30.  The culprit could be the late year capital gains distributions declared  by fund companies in 2025, which can be a particular surprise for investors who bought their funds late in the year.  Their T slips will indicate an entire year’s distribution.  Worse, they won’t necessarily have the cash to pay the taxes – now or throughout the rest of the year.  Here’s what you need to know:

After a scathing review by the Auditor General last September, on services provided by CRA last tax season, the tax department was mandated by the Finance Minister to implement a  “100-Day Plan” which ran from September 2 to December 11,2025.  It has already delivered meaningful progress as tax season 2026 comes to a close. We commend CRA employees for meeting the challenge, as it’s no small feat to communicate with millions of taxpayers and their advisors in such a short period of time.  Have you noticed a change?  Here’s the CRA’s take.

Building personal wealth allows people to manage financial risks and pursue new opportunities without relying on others. It also reduces financial stress and anxiety and averages down your marginal tax rate on income. So why do so few people in Canada invest in capital gains producing assets? Check out this week’s podcast, Real Tax News You Can Use with Evelyn Jacks and this week’s guest, Kim Moody, who will decipher some of the issues. Here’s a backdrop: 

Becoming a certified tax preparer is not only a smart personal and career move, it can also produce consistent and lucrative earnings, from home or office. And the demand for qualified people is high, especially as the relationship with CRA becomes increasingly digital. For these reasons, earning the Certified Tax Preparer Certificate from Knowledge Bureau is also a smart move. Best of all, you can start online now and use your skills to help yourself, your friends and others in the community. Here’s how:  

The Canada Revenue Agency is trying to reach out to Canada’s First Nations, Inuit and Metis to encourage them to file their tax forms on time and could use your help to make sure these communities get all the tax benefits they are entitled to. But filing tax returns are not always easy, especially when there is income on and off the reserve.

On March 26th, Bill C-15 received Royal Assent. A synopsis of some of the most significant elements of the Bill appear here; provisions that advisors and clients should be discussing when preparing tax returns before the end of April.  This includes the fact that the GST/HST Credit has now been replaced – but your clients may not know this.  There are new Capital Cost Allowance Provisions for rental property owners, provisions for the disabled and the Personal Support Workers Tax Credit is now law.