Confirmed:  The CCR for Small Business is Tax Free

Ottawa has confirmed that the CCR for Small Business received by eligible Canadian-controlled private corporations (CCPCs) will be tax free for the 2019-20 to 2023-24 fuel charge years, as will the final payment for the 2024-2025 fuel charge year.  Draft legislation was released on June 30, 2025 with this announcement; and will be introduced for law making in Parliament this Fall.   Some of the more significant details are discussed below.

Despite a CRA new release which tells students they will be saving more on their taxes this term, students and their parents will actually pay more tax in 2017 due to the March, 2016 budget.  Here are the details that students, parents and tax preparers need to know about as they spend money on their education in 2017:

Albertans lead the country on spending money, based on a new survey on household spending released at the end of January by Statistics Canada.  The figures are indicative of tax and financial planning opportunities required by families at all ages.

The RRSP deadline for those making contributions to reduce their 2016 tax liability is fast approaching: midnight March 1.  It’s important to get this done on time as a good Plan A, but also, to do so in conjunction with a long term financial planning outlook, as an even more important go-forward plan.

You have another chance to answer our Canadian Trivia Question and win a free registration to Distinguished Advanced Conference (DAC), November 5-8 in Kelowna, British Columbia.

The headlines around the world have been intense and for some, disturbing, over the last several weeks as borders have closed and diversity, financial and judicial systems have been challenged by change.  What does the future hold for Canadian investors and their advisors as a result of this uncertainty? 

Knowledge Bureau’s Advanced Bookkeeping for Multiple Business course is the logical next step for any bookkeeper to up their game and forge ahead in their career.