Fuel Excise Tax on Hold But Inflation is Not

The U.S.-Israel war on Iran has thrown global oil prices into turmoil and there is plenty of fallout for consumers. Travelling to Europe this summer? That’s in jeopardy, as jet fuel may run out.  Looking for relief at the pumps instead? The recently announced suspended federal excise tax on gasoline, unleaded aviation gasoline, diesel fuel and aviation fuel here in Canada will soften the blow, but only temporarily: it will be zero from April 20 to September 7, 2026. Here’s what you need to know:

The newest program from CAGP, Knowledge Bureau and Spire Philanthropy, the MFA-P™, Master Financial Advisor – Philanthropy was featured in today’s Globe and Mail, highlighting how its educational content makes understanding strategic philanthropy easier, enabling more in-depth conversations between advisors and clients.

Buying and selling mutual funds must be based on their suitability to an investor’s goals, age, capacity for assuming risk and investment knowledge. Also important is how well they have or are projected to perform. However, there are tax implications to be considered as well, which includes the right time to buy and sell mutual funds, especially at year-end.

Most people need to generate the future income they require to sustain their lifestyle by saving money. Saving sooner in life  is better. So is saving in tax-exempt or tax-deferred vehicles. But as wealth accumulates, preservation of value becomes an increasing concern. Two key eroders are taxes and professional fees. Also important is the cost of inflation, even at today’s relatively low rates. Here is why:

Knowledge Bureau’s elections promises chart– from a tax and financial point of view – has proven to be popular and with less than one week to go, we’ve added information on the costs associated with some of the promises made. The Office of the Parliamentary Budget Officer’s (PBO) estimates of the platform promises themselves are enlightening; as are those presented with the highly-anticipated release of the Conservatives costed platform.

According to Statistics Canada*, total donations on income tax returns increased over 150% in real terms over the past 3 decades. However, despite an increase, only 13% of Canadians reported discussing charitable giving with their advisors, and they would like to have more value-based discussions. Here’s how you can have a more fulsome conversation on charitable giving with your clients:

Back in December 2016, the CRA announced that it considered the payment of fees for registered accounts from non-registered accounts as an “advantage” and would tax accordingly, starting in 2018. They have now changed their minds.