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.

“Only when the last tree has died and the last river been poisoned and the last fish been caught will we realize we cannot eat money.” Indian Proverb

Knowledge is power, but education is expensive. What are the funding options? Join us in this first of a series to sort it all out.  Bottom line:  it depends on who you are and where you live.  Our veterans, for example, have just had the lovely news that up to four years of free education at a post-secondary school may be possible.

CRA has provided an update to its audit position on campgrounds and the use of the Small Business Deduction when there are fewer than five full time employees.  The degree to which significant additional services are “integral to the success of its business operations” will make the difference for campgrounds which do a bit of both:  in fact the more services provided, the better the chances that the SBD may be allowed.

Knowledge Bureau’s August opinion poll is asking an important question about education funding and our readers are providing some thoughtful and vibrant answers; that’s why the poll results appear to be coming in neck and neck. What do you think?

Who knew Canadians are this adventuresome?  Last week, CBC reported that close to 4000 people -  most of them men – applied for one of two positions to be blasted into space.   If any life event change speaks to the need for immediate tax, estate and family wealth planning, this would be it!

According to a recent survey by Robert Half, 2017 Salary Guide, Accounting and Finance, professionals with tax and audit experience are in particular demand in the public accounting sector and salaries in these areas are increasing.   Tax accounting, in particular, is an excellent skill and a great “foot-in-the-door” to get experience and insights in an expanding industry.