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.

The Distinguished Advisor Conference has established its reputation over the past 14 years as the most comprehensive and strategic educational conference available to tax and financial advisors. Experts and visionaries from all sides of the financial services industry will help you refresh your vision and mission, and execute on the strategic and technical skills required to serve your clients in this time of significant change.

Stay up-to-date with the constant changes in the industry: Dean Cockell, MFA™, Manitoba

“When you reach the end of your rope, tie a knot in it and hang on.” Franklin D. Roosevelt

Whether you live in a conjugal relationship is an important tax issue, as it affects many provisions on the return. Failure to report your status properly can, in fact, lead to expensive penalties. So, if your relationship status changed in 2016, consider discussing the following checklist with your advisor. It’s a “baker’s dozen plus one,” chocked full of potential tax filing provisions for couples that can save you time and money, especially on a tax audit:

There are a number of omissions that can occur in the rush at the end of tax season. One of them is missing the reporting of income benefits received by families in 2016. It’s important to remember that for the first six months of 2016 the UCCB (Universal Child Care Benefits) were received and they are taxable. That’s a double whammy for many upper-middle-income families who also lost the family income-splitting provisions. There are now no child tax supports at all for them.

Filing a 2016 tax return for a deceased taxpayer? Then be aware that as of January 1, 2016, new rules apply to charitable donations made by will.