New Consultations: Modernizing Tax Rules for Charities
As the last remnants of a scrumptious Thanksgiving weekend subside, it is appropriate to take a look at the health and issues surrounding the charitable sector in Canada. Serendipitously, the federal government is seeking your views on how the tax rules for registered charities and the Canada Revenue Agency’s (CRA) administration of these rules could be modernized. A new consultation was launched on October 8 and here’s what the government wants to know, by December 3, 2026:Budget Alert - Higher Taxes Coming
The federal government has been testing the waters to gauge reaction to potential tax increases for high income earners in the next Federal budget, anticipated sometime this fall. On January 26, 2026, Public Safety Minister Gary Anandasangaree tabled Motion M-24 in the House of Commons. It proposes to create three new personal income tax (PIT) brackets for your wealthier clients. You may want to review this possibility as part of your year end tax planning discussions. Here’s what you need to know.
Year-End Tax Planning 2026: What Tax-Saving Opportunities Are Clients Missing?
Canada federal budget cycle was permanently shifted to the fall last year and so it is expected that Budget 2026 will likely follow last year’s November 4 cadence. This, together with the result of the U.S. midterms to consider, will make year end tax planning for corporate owner-managers very interesting this year. What should be on the year-end checklist you share with your clients? Evelyn Jacks, President of Knowledge Bureau, will provide a comprehensive overview as she opens the November 5 CE Savvy Summit: Year-End Tax Planning for Investors and Business Owners. Register by October 22 early bird offers. Here’s what’s in store:
Strategic Philanthropy: Can Advisors Help Reverse Canada’s Giving Deficit?
Charitable giving is declining in Canada, yet strategic philanthropy offers important opportunities for tax-efficient wealth planning and building family legacies. At the 2026 Acuity Conference for Distinguished Advisors, Chantal Thomas, MBA, Pl. Fin., MFA-P™, Senior Director, Philantra and Private Foundations, will explore how advisors can help reverse this trend in “Strategic Philanthropy: Correcting the Giving Deficit,” sponsored by National Bank Trust – Philantra Foundation / Banque Nationale Trust – Fondation Philantra.
CRA Data Breeches Put Taxpayer Information at Risk
An important deadline is coming up, around the same time that Canadians get ready to file their 2026 tax returns at the start of tax season 2027. Since 2020, more than 42,000 data breaches have occurred at the CRA. A class action lawsuit was launched in 2020 and a $8.76 million settlement was reached. Eligible Canadians affected by these security incidents can now submit claims through the KPMG Claims Portal until February 3, 2027.
Tax Reform: 96% Say Canada Needs an Overhaul
Is comprehensive personal and corporate tax reform necessary to make Canada’s economy stronger in response to trade wars? Knowledge Bureau readers responded with an overwhelming yes. In the September Knowledge Bureau Report poll, 96% of respondents said comprehensive tax reform is necessary, while just 4% said no. Why? Read on to find out!
New $150 Disability Benefit Payment: Who Will Receive It?
Your clients who receive the Canada Disability Benefit (CDB) may now be in line for a one-time supplemental lump sum payment of $150.00. The payment is intended to offset the cost of obtaining the disability tax credit (DTC) which is required if they are to receive the Canada Disability Benefit (CDB) and the payments began on September 17, 2026. Did your eligible clients receive it?
