The UHT May Be Cancelled, But Vacancy Taxes Remain
As tax professionals, you are keenly aware of the constant changes our federal government makes to the Income Tax Act. Adjustments are made, and you must adapt. Not often, though, is a tax eliminated altogether. But in the case of the Underused Housing Tax (UHT), that is exactly what has happened – it was cancelled in the federal budget of November 4, 2025, but Canada’s underused housing taxes have not been eliminated. Here’s what you need to know for tax season 2026.The Politics and Facts of Electric Vehicles
The government has mandated that by 2026, 20% of the new vehicles sold in Canada must be ZEV’s and that number will rise to 100% by 2035. This is going to be costly for government, as they invest Billions of dollars in change management. But for Canadian households, this could be devastating in two ways: first late payments on auto loans have hit a new high across North America in early 2025. Second, each Canadian is now responsible for between $40,949 and $68,861 in provincial and federal debt; which is deferred taxation.
Level Up Your Career with the Professional Practitioner Diploma
In today’s competitive financial services industry, technical expertise alone is not enough. Clients expect professionals who can deliver comprehensive, practical solutions across multiple areas of tax and business accountancy. The Professional Practitioner Diploma from Knowledge Bureau is designed to meet that challenge head-on. Right now, you can get started for just $595 per course if you register by August 31.
Moving from ROI to ROL: Redefining Real Wealth at the Next Meeting of the Minds
On September 25 at 11 a.m. CST, financial professionals and thought leaders will gather for an insightful panel discussion focused on a transformative concept in wealth management: moving from ROI (Return on Investment) to ROL (Return on Life). This Meeting of the Minds session, titled Redefining What Real Wealth Means to You, aims to shift the conversation beyond numbers and portfolios toward what truly matters - aligning financial strategies with clients’ life purpose and peace of mind.
Acuity Conference Spotlight: Time for Change in Wealth Management
The wealth management industry is facing a trust and service gap. A 2023 study reveals that only 6% of Canadian investors are receiving truly comprehensive advice from their wealth management professionals. Even among full-service clients, just 57% report having a financial plan and alarmingly, 43% of those don’t believe their advisor’s recommendations align with their best interests. These numbers tell a clear story: clients expect more, and advisors who fail to adapt risk losing both trust and business. At the Acuity Conference, Michael van Lierop, FDFS™, RWM™, of New Outlook Wealth, will present Practice Management – Time for Change, a session dedicated to closing these gaps.
CRA Shut Down: Communicate Proactively Before Long Weekend
Did you know that Canada Revenue Agency (CRA) will be undergoing a digital migration on the September long weekend, starting Friday August 29 at 8:00 p.m. and ending Tuesday at 6:00 am September 2, with the proviso that this possibly could last til September 3? What could go wrong? Plenty.
Audit Potential: Personal Services Businesses
In 2022 CRA launched a pilot project on the activities of Personal Services Businesses (PSBs) and the companies that hire them. Unfortunately, it appears there is tax audit pain ahead for some of these entities, and potentially those who hire them. Tax preparers, it seems, haven’t gotten the T2 filing requirements right, either.
