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.

Are you considering owning a business with a partner? It’s a great opportunity to hone your leadership skills, especially if you’re making the transition from employment to self-employment. But, you may want to think twice: partnerships can be tricky business.

Over the past year, the Canada Revenue Agency has made it a priority to collect on what they’ve deemed to be over $100 Million in unpaid taxes on TFSA investments. But can investors fight back?

If the date July 18, 2018 rings a bell it should: it marked the one-year anniversary of Morneau’s controversial small business tax proposals. This year, mid-summer tax complexity is again in the news, as Finance Canada released two important new tax documents for Canadians on July 27: the Draft Sales and Excise Tax Legislative and Regulatory Proposals and the Draft Income Tax.

Draft legislation that describes enhancements to the Canada’s Workers Benefits, was tabled at the end of July, and the proposals contain five interesting changes which improve access and benefit availability, as outlined in the federal budget.

When it comes to the Canada Pension Plan (CPP)/Quebec Pension Plan (QPP), most Canadians want to know whether they should take it early, at age 60 or defer it. In fact, this is a great trigger question and a core part of the discussion and a core part of the discussion about a pre-retiree's financial strategy. Yet it is surprising how few advisors drill down on this complex, and often uncomfortable decision.

Is more regulation needed to protect consumers from unscrupulous tax and financial advisors? That was the subject of KBR’s July poll, and it’s clear that to industry professionals, the answer isn’t so black and white. Our readers agree it’s a problem, but the solution falls somewhere between simply answering “yes” or “no.”