Finance Canada Releases Draft Legislation January 29

February 27, 2026 is the last date to comment on a raft of draft legislation released at the end of January covering provisions from the November 4, 2025 Federal budget,  the Fall 2024 Economic Statement, amendments from Budget 2021 regarding Hybrid Mismatching Arrangements, technical changes to two investment tax credits, dating back to 2022 and 2023, as well as corporate changes regarding the Global Minimum Tax.  The key measures to note appear below:

Knowledge Bureau hosted its first half-day Mini CE Summit which focused on Rookie Tax Training to bring Canada’s Income Tax Fundamentals course to life, and surprisingly, it was well attended by seasoned pros as well.

Last week, it was announced that the capital gains inclusion rate increase would be postponed to January 1, 2026. How can you advise your clients on this now?

On January 23 , Finance Canada released draft legislation to confirm the extension of the charitable donation deadline for the 2024 tax year to February 28, 2025. However, this law won’t be passed until the House of Parliament returns from the prorogue.

Breaking News - From Finance Canada today - a postponement of capital gains inclusion rate increase from June 25, 2024 to January 1, 2026—the new date on which the capital gains inclusion rate would increase from one-half to two-thirds on capital gains realized annually above $250,000 by individuals and on all capital gains realized by corporations and most types of trusts.

Last week Finance Canada released draft legislation to confirm the extension of the charitable donation deadline for the 2024 tax year to February 28, 2025. But it’s not for all donations. The fine print in this legislation matters before going ahead and making the donation. Check it out:

Say tuned this Friday, January 31 when CRA is set to release its capital gains calculation forms.  Will they include the proposed new capital gains inclusion rate calculations?  Recall the April 2024 Budget, when our now resigned finance minister Chrystia Freeland announced that the proportion of capital gains that qualify as taxable income would be increased for some tax filers. Is it law?  No.  What should tax filers do?