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.

Last month, Knowledge Bureau issued the results of a poll indicating that financial professionals are firmly divided on the prospect of $15-an-hour minimum wage. Now the business community is having a similar debate

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.