The Canada Child Benefit Increase and Audit Risk

Families receiving the Canada Child Benefit (CCB) may have noticed an increase in their recent payments. Indexing takes place each July 1. Beginning in July of 2026, the CCB will provide families up to $8,157 per child under the age of 6 and up to $6,883 per child aged 6 to 17. There is audit risk that comes with that, however.

"It is neither wealth nor splendor; but tranquility and occupation which give you happiness." Thomas Jefferson

Whenever possible, avoid adding a large lump sum to your taxable income in one tax year.  This can be especially problematic when a severance package or termination payment on retirement is received.

Bill C-15 Budget Implementation Act, 2016, No. 1 has passed in parliament and has moved on to the Senate for approval.  This Bill implements some, but not all, of the tax measures introduced in the 2016 Federal Budget.

The Distinguished Advisor Conference agenda, has just been released, chocked full of opportunities to build knowledge and business skills and earn valuable continuing professional development accreditation:  check it out for yourself and learn more about the 19 thought leaders who will inspire you!

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.

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.