The Canada Revenue Agency prescribed rate will remain unchanged at 3 per cent for the third quarter of 2026, the fifth consecutive quarter the rate has held steady. It will be in effect from July 1st, 2026 to September 30th, 2026. As noted in a previous blog, the CRA’s prescribed rate is “used to calculate […]
Always read the fine print. It’s a rule of thumb that can help mitigate risk and avoid a plethora of financial challenges, at least for those who choose to follow it. That advice could apply to a measure proposed (and since passed) in the 2026 Ontario Budget, which reduces the Ontario small business corporate income […]
From filing an annual T3010 Registered Charity Information Return to meeting disbursement quotas, maintaining regulatory compliance is an ongoing—and often cumbersome—challenge for registered charities in Canada. One of those requirements includes stating (and updating) the charity’s purposes and activities, which must continually qualify as ‘charitable’ under Canada Revenue Agency rules (based on Income Tax Act […]
For the fourth consecutive quarter, the Canada Revenue Agency prescribed rate will hold steady at 3 per cent. The rate will be in effect for the second quarter of 2026, from January 1st to March 31st, 2026. The prescribed rate is “used to calculate taxable benefits for employees and shareholders from interest-free and low-interest loans.” Entrepreneurs […]
On the heels of his widely covered speech at the World Economic Forum in Davos last week, it appears that Prime Minister Mark Carney has been paying attention to poll numbers showing his Liberal party trailing the opposition Conservatives on the cost-of-living file. That would explain his government’s move yesterday to propose a new package […]
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 […]
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 […]
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