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:Grads in the News: Sylvie Gewehr
Sylvie Gewehr from Haines Junction, Yukon, is pursuing her DFA – Tax Services Specialist designation in her transition from bookkeeping to offering tax filing services. She shares how she started her educational journey with Knowledge Bureau, and her unique story about how the online self-study structure made it possible while living in a remote location.
Donation Controversy: Tax Relief for Media
Last week’s Fall Economic Statement featured updates to Canada’s economic outlook and corporate tax changes, specifically, the Capital Cost Allowance measures. However, the Finance Minister also proposed a controversial $595 million package to support Canada’s media sector, including tax breaks for those who subscribe to some online media outlets.
Wait Until 2020 for CRA Service Standard Improvements
A year after the Auditor General Report that took the CRA to task over its service standards, this fall’s report delivers further criticism. This time, CRA is being called out for its inconsistent practices and in addition, this latest critique follows the news that the implementation of call centre improvements has been delayed again.
Snowbirds: Tax Consequences When Substantial Presence Test Isn’t Met
Are snowbirds required to file a U.S. tax return? In this week's article, Dr. Dean Smith shares tax requirements for those who don’t meet the substantial presence test.
RSVP Now: January Advanced Tax Update
It’s time to shake out the cobwebs and get ready for tax season. If you are a tax or financial services professional you won’t want to miss this advanced personal tax update: join us in six cities January 17 – 25, 2019.
Don’t Skimp on This: The Cost of Bad Bookkeeping
Even in a DIY culture, there are benefits to hired help – especially when it comes to bookkeeping for small businesses. A recent U.K. study showed just how much it costs business owners who choose to go it alone without essential education and training in professional documentation techniques.
