The Canada Revenue Agency prescribed rate for the first quarter of 2026 will remain at 3 per cent. The rate will be in effect from January 1st to March 31st, 2026. This will mark the third consecutive quarter that the prescribed rate has held steady. As noted in our ongoing updates, the prescribed rate is “used […]
It was a tall order for the Carney government to deliver a federal budget that featured growth-driving investments while maintaining some semblance of fiscal responsibility—see our blog on Budget 2025 for a full summary and analysis. The federal budget posted significantly higher deficits and proposed measures that bet big on the private sector making major […]
Every young government seeks to impress with its debut tax and spending plan. Federal Budget 2025 was Prime Minister Mark Carney’s first opportunity to reset Canada’s fiscal direction. While it delivers new tax incentives designed to spur business investment, along with a smattering of personal and corporate tax measures, it is far from the transformative […]
Perhaps the most daunting aspect of the U.S. government’s trade strategy, which apparently involves the announcement of punishing new tariffs without notice, is the lack of economic predictability for business leaders. Anxieties over where to invest—if at all—are giving owners of small to medium-sized businesses in both the U.S. and Canada reason to pause crucial […]
The Canada Revenue Agency has confirmed that the prescribed rate for the fourth quarter of 2025 will hold steady at 3 per cent. The rate will be in effect from October 1st, 2025 to December 31st, 2025. In Q3 2025, the rate reached its lowest level since the fourth quarter of 2022, after increasing to […]
The federal government recently confirmed that rebates issued under the Canada Carbon Rebate for Small Businesses will not be taxable for the years that the fuel charge was in effect (the levy was cancelled on April 1st, 2025). That includes payments received by corporations for the 2019-20 to 2023-24 fuel charge years, along with the […]
Individual Canadian investors and Canadian businesses with U.S. assets are breathing at least a tentative sigh of relief today. At the Trump administration’s request, U.S. Senators appear to have agreed to remove the contentious Section 899 from the One Big, Beautiful Bill Act, the tax and spending legislation currently before Congress. While this is a […]
The recent federal election campaign featured the usual policy one-upmanship among party leaders who made competing pledges covering everything from social program spending to tax cuts. One of Prime Minister Mark Carney’s signature platform planks was a middle class tax cut. Last week his Liberal government tabled a Notice of Ways and Means motion in Parliament […]
The Canada Revenue Agency has announced the prescribed rate for the third quarter of 2025, with welcome news for affected taxpayers. The rate on loans to family members—which is in effect from July 1st, 2025 to September 30th, 2025—will decrease to 3 per cent from 4 per cent, its lowest level since the fourth quarter […]
Of all the economic disruption caused by the Trump administration in recent months—roiling markets and global investment patterns with tariff threats, upending longstanding agreements with trade partners and generating widespread economic uncertainty—his One Big, Beautiful Bill Act could have the most direct non-tariff impact on Canadian business owners and investors. Indeed, Section 899 of the […]
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