Confirmed: The CCR for Small Business is Tax Free
Ottawa has confirmed that the CCR for Small Business received by eligible Canadian-controlled private corporations (CCPCs) will be tax free for the 2019-20 to 2023-24 fuel charge years, as will the final payment for the 2024-2025 fuel charge year. Draft legislation was released on June 30, 2025 with this announcement; and will be introduced for law making in Parliament this Fall. Some of the more significant details are discussed below.Poll Results: Advisors Must Put More Emphasis on Discussing Charitable Giving
In December, we asked Knowledge Bureau Report readers, “In your opinion, are tax and financial professionals taking the time to help clients understand the benefits of charitable giving?” In a surprising result, only 17 percent thought their peer group was spending enough time counselling their clients how to make donations in a tax-efficient way.
Third-Party Penalties: Risks for Tax and Financial Advisors
Should professional tax preparers and financial planners work with clients who are not tax compliant? If you are helping them to become compliant, then by all means work with them to set the record straight. But the answer is likely no, if it means that these professionals will open themselves up to the possibility of civil penalties. Here is a run-down of the rules every professional should know:
Tax and the Bitcoin: Real Money Owing to CRA
“Bitcoin Rush” is all over the news as speculators have tried to get in on the trend which saw skyrocketing values at the end of 2017. But there is a spoiler: gains on trading digital currencies like Bitcoins are subject to taxation in Canada, a liability that must be settled in real dollars.
The Trusted Tax Professional vs. CRA’s New “File My Return”
This week the National Revenue Minister announced a new program called “File My Return” that will allow Canadians with low and fixed incomes to complete their returns over the phone.
CE Summits - Advanced Personal Income Tax Update
There is still time to register for Winter 2018 CE Summits, Canada’s most comprehensive Advanced Personal Income Tax Update for tax and financial professionals and their new and returning staff. Please remember that Regular Fees apply after deadlines!
Professional Online Training Available Now
Busy tax and financial professionals who are looking to train and hire graduates from Canada’s most comprehensive and convenient professional certification program may enroll now, 24/7.
