The Canada Child Benefit Increase and Audit Risk

Families receiving the Canada Child Benefit (CCB) may have noticed an increase in their recent payments. Indexing takes place each July 1. Beginning in July of 2026, the CCB will provide families up to $8,157 per child under the age of 6 and up to $6,883 per child aged 6 to 17. There is audit risk that comes with that, however.

Ottawa-based financial professional Marc Ouellet has this to say about Knowledge Bureau’s Advanced Tax-Efficient Retirement Income Planning course

Finance Canada’s controversial proposals on the taxation of private corporations, which require comments on the changes by October 2, will potentially affect businesspeople of all income levels, from all walks of life, who serve and employ Canadians in their hometowns across Canada. However, they will also affect families and, in particular, women.

Three-quarters (74 per cent) of Canadian post-secondary students believe they will need to supplement their schooling with more training after graduation, despite already spending on average $14,000 each year and expecting to owe $30,000 in debt by the time they complete their current program.

Advisors, inform your clients that they may receive letters from their financial institutions that they need to respond to, and it’s not a phishing scam.

It’s a well-known fact that the next decade will see an enormous amount of money transferred from one generation to the next in Canada. According to a 2016 CIBC study, there is $750 billion at stake. Your clients, and your high-net-worth clients in particular, will be looking to you to help them preserve their family wealth, if they aren’t already.

“I think self-awareness is probably the most important thing toward being a champion.” —Billie Jean King