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.

Brian Dunn, ‎DFA-Tax Services Specialist, on the benefits of the T1 Professional Tax Preparation course:

The Old Age Security monthly benefit is expected to increase to $590.74 in the fourth quarter based on CPI data, for a total 2017 benefit of $6,994.62.

Three-quarters of Canadians say they have saved 25 per cent or less of what they feel they need to retire, according to a Canadian Payroll Association survey. Financial advisors are well-positioned to help.

National income tax is such a given in western economies that we lump it in with death as being unavoidable and portray the “Taxman” as some kind of grim reaper. But, in reality, federal income tax is a fairly recent invention — in Canada, we’ve just now reached the 100-year anniversary of the practice.

Canada now ranks No. 5 globally by share of pension fund assets, according to new research by Willis Towers Watson. What does this mean for advisors and their clients?

“Ideas are a commodity. Execution of them is not.” —Michael Dell, founder & CEO, Dell Technologies