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.

Did you know that the CRA’s Voluntary Disclosures Program (VDP) is proposed to change soon, restricting the ability to correct errors and omissions within a 10-year period?

Tax pros beware — fraudsters have developed a sophisticated new email scam designed to steal your tax software usernames and passwords.

The federal government’s “hurry up” approach to major tax reforms in Canada needs to slow down to allow for careful analysis of the proposals and changes from all stakeholders,

“The difference between the richest man and the poorest is but a day of hunger and hour of thirst.” —Kahlil Gibran

What has more value: Artificial Intelligence or the advice humans give to their clients? The debate is on at the Distinguished Advisor Conference, November 5 - 8 in Kelowna.

Looking for a career-building “back-to-school” project? Knowledge Bureau has developed a new introductory tax course