Observing National Truth and Reconciliation Day

In observance of Canada’s National Truth and Reconciliation Day, September 30, Knowledge Bureau will be closed, to allow staff and students to remember and honour Residential School Survivors, their families, and those who never returned home and reflect on their personal participation on the Journey to Reconciliation.     

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.

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:

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.

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:

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.

Year end tax planning is about reducing taxes on current year income. One of the best ways to do so is to consider the purchase of an income-producing asset and claiming a Capital Cost Allowance Deduction. The new Productivity Mega Deduction (PMD) is proposed to take effect on new asset purchases on or after September 15, 2026 and makes for a great year end conversation starter with your small business clients. It’s about immediately expensing these purchases – 100% - against other income and that can lead to a big tax saving.