Immediate Expensing Rules: Good Tax Policy?

Over the course of the last two federal budgets (April 16, 2024 and November 4, 2025), the rules for claiming Capital Cost Allowance (CCA) have been uncertain. The proposal to extend immediate expensing rules for certain acquired assets were paused for over a year and then re-introduced in a series of four complex measures which together with new rules for Scientific Research and Experimental Development have become known as the “Productivity Super-Deduction”.  A backdrop appears below. The key question: will this complexity be effective as an economic stimulator?   

The official extended June 1 tax filing deadline has past, but of course there is an unofficial deadline of September 1 still ahead. No late filing penalties or interest will be charged for those who file by then, so it’s not surprising that T1 tax filing season isn’t truly over yet.  In fact, 30% of all T1 returns filed last year are still missing in action.

As part of the emergency pandemic assistance programs, a new benefit was introduced for seniors – for some, but not all. Those receiving OAS will receive a $300 one-time payment, and those receiving GIS will receive an additional $200. But do those who chose to postpone their benefits qualify too?

I had the opportunity to coach one of our Knowledge Bureau instructors this past weekend as she prepared to provide a basic tax and financial literacy lesson to a group of young people. The issue we spent the most time discussing: how to convey and discuss the importance of financial wellness and why that matters especially in these times? The answer required only one word.

Have governments effectively interpreted the financial effect of the pandemic on small businesses across Canada?  It’s a question we asked you last month and we got well over 1000 responses. The answer was a resounding no from 96% of you.  Here is what you told us...

Who needs to file a 2019 T1 return and when? It’s a question Canadians and their advisors continue to struggle with, as filing deadlines become an ever-moving target. Last Friday (May 22), CRA changed their website to announce they will not charge a late filing penalty as long as the extended June 1 filing deadline is met by September 1. So why file now? Here are some key reasons:

Navigating the complex detail of the emergency pandemic response benefits has been a complex process for businesses and individuals alike. We’re here to clear up some of the frequently asked questions about the Canada Emergency Wage Subsidy (CEWS) and the Canada Emergency Response Benefit (CERB) and help you sort through sort through the chaotic myriad of the benefits and their tax-audit pitfalls.