Draft Legislation Released July 23, 2026

While Canadians were enjoying the height of summer 2026, Finance Canada released draft legislation for a number of previously announced tax measures including new rules for the disabled, apprentices in the trades, those with automobile benefits, farmers on the prairies and business owners buying assets or remitting GST/HST. A consultation has been issued on the proposed new rules, which must be emailed to the department by September 4.  There are some important changes, some summarized below, which will also be covered in the September 23 CE Summit.

Unfortunately, Senator McCallum has informed us she is unable to attend the Distinguished Advisor Conference this year. Instead we will hear from Dan Collison who will speak to this important topic: YOUR NEW IDEAL CLIENT: How Constructive Listening Helps Engage Culturally Diverse Clients. Check it out and register by October 31!

The tax preparation industry is undergoing massive change: from jobs that required data entry skills to professional advice that focuses on the best after-tax results for the client and his or her family. That requires a new educational solution for those who want to build a career in this rewarding industry.

Troy Harrison of Winnipeg, shares why investing in education as an advisor, isn’t just about career advancement. Education also helps advisors forge trust with clients.  His focus now is to cultivate and nurture his client relationships and inspire other advisors to do the same.

Two new important pieces of information from the CRA impact the registered investment strategies of Canadian taxpayers. The forecasted TFSA contribution limits for 2019, and the long-awaited Income Tax Folio S3-F10-C3, Advantages – RRSPs, RESPs, RRIFs, RDSPs and TFSAs issued on October 1.

The new NAFTA deal—now called USMCA—will no doubt make positive contributions to the Canadian economy and investors will appreciate the improvement in market uncertainty. But, there are also some points of concern, including impacts to specific sectors and looming interest rate hikes. Plus, a duty-free limit increase that improves ease of holiday shopping, but could have economic repercussions.

A new report from the C.D. Howe Institute answers the common question: should the rich pay more tax? While recent tax rate changes brought in $1.2 Billion federally (far less than the $3 Billion anticipated) the data points to several negative impacts, with consequences to all taxpayers, when the rates applied to Canada’s top income earners go up.