Fuel Excise Tax on Hold But Inflation is Not

The U.S.-Israel war on Iran has thrown global oil prices into turmoil and there is plenty of fallout for consumers. Travelling to Europe this summer? That’s in jeopardy, as jet fuel may run out.  Looking for relief at the pumps instead? The recently announced suspended federal excise tax on gasoline, unleaded aviation gasoline, diesel fuel and aviation fuel here in Canada will soften the blow, but only temporarily: it will be zero from April 20 to September 7, 2026. Here’s what you need to know:

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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? 

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Providing value to your clients: Andre Yong Tit Kow, DFA - Tax Services Specialist™, Ontario

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The CRA has cancelled Information Circular IC98-1R5 and replaced it with a sixth version, which provides a new overview of CRA collections policies for individuals, corporations, GST registrants, employers and those who import or export or travel across borders. Advisors and clients will want to refresh on their obligations: