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:Compliance Alert: Cross Border Taxes, Rights and Regulations
Cross border taxation is increasingly of interest to tax advisors and their clients, particularly if they are US citizens living in Canada. The cost to renounce US citizenship, for example, has recently increased to $2350; while challenges to tax filing compliance have failed, so far.
Top-Rated Speaker at DAC 2015: Craig Dowden on the Power of Empathy
What’s important in building modern financial practices? The top-rated speaker at the recent Distinguished Advisor Conference was someone who focused on the softer side of financial advice—peak performance coach, author, and speaker Craig Dowden, PhD – and his answer to the question was simple: empathy.
Tax Tips: What Expenses Can Employees Claim On The Tax Return?
According to Statistics Canada1, 95% of Canadians age 15 years and older have some form of income. There are over 28 million tax filers and two-thirds of them pay income taxes, on average 16% of total income. Fully 70% of that income came from employees, whose earnings are subject to tax withholdings that employers make on their behalf.
Life Purpose
“Far away there in the sunshine, are my highest aspirations. I may not reach them, but I can look up and see their beauty, believe in them, and try to follow where they lead.” -Louisa May Alcott
An Empowered Presence is at the Heart of True Wealth
We all know people who immediately capture our attention. I’m not referring to people whose physique or loud voice is overpowering and intimidating, keeping us at a distance, but those who have that distinct magnetism that draws us closer.
CRA’s Enormous Collections Policies
In Information Circular, IC 98-1R5 Collections Policies, issued on February 3, 2013, CRA clearly outlines the consequences that will follow if you make the bad decision to ignore their requests for payment. Tax and financial advisors have an important role to play in advising their clients to stay out of this kind of trouble, because the consequences can be swift and financially brutal.
