Finance Canada Releases Draft Legislation January 29

February 27, 2026 is the last date to comment on a raft of draft legislation released at the end of January covering provisions from the November 4, 2025 Federal budget,  the Fall 2024 Economic Statement, amendments from Budget 2021 regarding Hybrid Mismatching Arrangements, technical changes to two investment tax credits, dating back to 2022 and 2023, as well as corporate changes regarding the Global Minimum Tax.  The key measures to note appear below:

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:

“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.

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.

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!

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. 

We’d like to say congratulations to Benitta Anselm Nerio on the completion of Knowledge Bureau’s T1 Professional Tax Preparation – Intermediate course. Here’s what she had to say about her experience: