Draft Legislation Released July 23, 2026

While Canadians were enjoying the height of summer 2026, Finance Canada released draft legislation for a number of previously announced tax measures including new rules for the disabled, apprentices in the trades, those with automobile benefits, farmers on the prairies and business owners buying assets or remitting GST/HST. A consultation has been issued on the proposed new rules, which must be emailed to the department by September 4.  There are some important changes, some summarized below, which will also be covered in the September 23 CE Summit.

The federal government's new Canada Groceries and Essential Benefit is intended to help eligible Canadians cope with rising food prices and the increasing cost of everyday essentials. We asked our readers whether they believe it is the right solution to address inflation, and the response was decisive: 93% said "No," while just 7% said "Yes." The results sparked a lively discussion among tax and financial professionals from across the country. See below.

We often hear that the rich should pay their fair share of taxes and few would dispute that principle. Interestingly, a recent Fraser Institute report revealed that that Canada’s highest earners already shoulder a significant portion of the country’s tax burden.

As CRA's technology and enforcement strategies continue to evolve, so too must the advisors who guide Canadians through an increasingly complex tax environment. CE Savvy Summit: Issues in Audit Defence on September 23, brings together leading tax experts Evelyn Jacks, Kim Moody and Ruth Horst to examine the latest developments in audit defence. Plus this is the first in a series leading to a new credential for workplace training at Knowledge Bureau: The Senior Tax Specialist Diploma. Register by September 9 for early-bird savings! Here’s a preview: 

Canadian investors continue to navigate a volatile economic environment shaped by inflation, geopolitical conflict, artificial intelligence, and changing demographics. At the same time, Canada's aging population and growing government debt are creating new challenges, and opportunities, for long-term portfolio management. How can advisors best help provide solutions? Brayden Dueck, CFA with our partner BCV Asset Management will lead an enlightening session at the 2026 Acuity Conference for Distinguished Advisors November 22-24 in Victoria. 

As A.I. emerges, does it change how professionals create financial peace of mind in their communities?

Pre-budget consultations are now underway for this fall’s Federal Budget and Canadians are invited to share their views with Finance Minister Francois-Philippe Champagne through an online survey. Over the next several weeks, the Finance Minister and his team will meet with various stakeholder groups and review public submissions before finalizing the budget.