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.

Life insurance and Estate Planning professionals across the country were recently shocked to discover that traditional gifting of life insurance policies to charity is now considered “trafficking” by the British Columbia Financial Services Authority.

The news is big: first, we are delighted to announce the winner of a free registration to The DAC Acuity Conference in Niagara Falls this October 28-30. Next, we have  a Valentine’s Day gift  for you! And last but not least, something to make you smile: check out the DAC photo gallery of the highly successful 2019 DAC in Puerto Vallarta. Guess who had the most fun?

Did you miss the Winter CE Summits? You can purchase the CE Summit January Advanced Tax Update Journals for your team for only $395. Plus, you get the new assignments included for free. Here's why Winter attendees encourage you to get yours:

Last week at the CE Summits in Vancouver, an interesting question arose with regards to the deductibility of gifts left by a deceased taxpayer to a specific charity in his will. Would that specific bequest qualify for the donations tax credit on the final return, a trust return or both? It turns out, the answer may be neither. 

A number of tax changes for employees have been implemented for the 2019 tax filing year which officially begins on February 24 when the CRA opens their electronic gates for EFILE transmissions. What should you know before the tax season begins?

The federal government is asking for your opinion in advance of the upcoming federal budget. Four priorities have been brought forward for your consideration, and you can submit your feedback electronically.  But, is much of the agenda already set?