The UHT May Be Cancelled, But Vacancy Taxes Remain
As tax professionals, you are keenly aware of the constant changes our federal government makes to the Income Tax Act. Adjustments are made, and you must adapt. Not often, though, is a tax eliminated altogether. But in the case of the Underused Housing Tax (UHT), that is exactly what has happened – it was cancelled in the federal budget of November 4, 2025, but Canada’s underused housing taxes have not been eliminated. Here’s what you need to know for tax season 2026.When are Fees Paid to Advisors Deductible?
Fees paid to financial advisors are in focus these days, as new fee transparency and account performance reporting is being introduced under the third phase of CRM2 next month.
Financial Planning and Advice: Is an Integrated Regulator the Answer?
Does financial planning require its own regulatory oversight? That’s the issue the Ministry of Finance in Ontario has charged an expert committee with. Their preliminary recommendations propose an “integrated regulator” and significant restrictions on who has the qualifications to hold themselves out as a financial planner. Consultations on the matter must be submitted by tomorrow, June 17.
Now is a Great Time to Learn Tax Preparation Online
It is critical to know the mechanics of tax preparation, not only for those who want to get into or stay in the tax preparation industry, but also for financial advisors who want to offer an integrated, holistic solution to planning for their clients. If you don't know tax, you're likely missing double digit returns in your plans for Real Wealth Management with your clients.
Life Purpose
"If you want to succeed you should strike out on new paths, rather than travel the worn paths of accepted success." John D. Rockefeller
Plan for a Tax-Efficient Retiring Allowance
Employees who are leaving their jobs and who receive job termination payments or retiring allowances should do some tax planning, perhaps with RRSP contributions and other income splitting or deferral options.
Manitoba Budget: Finally, Inflation-Adjusted Tax Brackets & BPA
Manitoba’s new government released its first provincial budget on May 31st, announcing three important personal tax changes that signal a change in direction from the previous regime. Small business in Manitoba also got enhancements to three tax credits.
