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:

In the past year, numerous tax advantages have been altered; if nothing else, the March 22, 2016, budget reminds us again never to look a “tax gift horse” in the mouth, especially when it comes to tax-free or tax-deferred investment opportunities.

Are you getting the most for your dollar when you work with your tax advisor? Many taxpayers would like better answers to their questions about how to save more on their tax return. If you are one of them, read on to learn more about a three-step process Tax Services Specialists are using to increase their value proposition to their clients.

A tax-efficient payroll is one that ensures employees pay only the correct amount of tax and no more with every paycheque. Bookkeepers and payroll departments that offer employees the opportunity to integrate tax efficiencies provide a valuable service that can lead not only to higher take-home pay, but higher family savings rates, too.

On March 22, Federal Finance Minister Bill Morneau released the highly anticipated federal budget. And in response, Knowledge Bureau has already updated its latest version of the T1 Professional Tax Preparation – Basic course.

Our team of tax experts is pleased to present the Knowledge Bureau 2016 Federal Budget Special Report.

Now that tax season is in full swing, Knowledge Bureau would like to remind you of some key dates to mark in your calendar: Regional DAW Workshops - May 24 to 31, Summer Studies Begin June 15, DAC  Nov 6 -9.