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.Power of Attorney: Liabilities Binding Despite Dysfunctional Marriage
Taxpayers should receive legal advice prior to giving a power of attorney to anyone, including their spouse. Unintended tax consequences will not be forgiven by the CRA.
Pain Relief for Child Care Costs
Whether you are a student or working and paying for child care, those expenditures may be deductible and the maximum amount you can claim has increased this year. It’s a lucrative year end tip advisors will want to prime their clients about, to maximize child care expense claims on the 2015 tax return.
Adopting Refugee Children: Adoption Expenses Qualify as Tax Credit
It has been truly heartbreaking to watch the humanitarian crisis unfold in Europe, as millions of displaced refugee families risk their lives seeking safe havens. Canadians can help with charitable donations, but also by adopting orphaned children.
The New Role for the Tax Accountant When a Business Transitions
Accounting departments in growing companies have a special role in collaborating with shareholders: to help those at the financial helm to understand not only where the business results lie today, but what resources it will need to support future growth, potential financing gaps, and how they can best addressed.
Practice Management: The Ultimate Canadian Paperless Tax Office
Year end tax planning includes upgrading tax office environments to substantially increase efficiencies. The proof appears to be in the pudding: TaxCycle users are reporting a 41% decrease in paper printing and handling, 30% more accurate tax preparation and 21% time savings per client engagement.
Less Than a Month Away: Strategic Practice Management a Highlight at the DAC
How do advisors successfully engage multiple generations in a digital world in order to build and sustain family wealth?
