Highlights from the 2026 Spring Economic Update
On April 28, 2026, Finance and National Revenue Minister François‑Philippe Champagne released the 2026 Spring Economic Update (the Update). This was the first spring economic update after the federal budget was moved to the fall in 2025. In the absence of a federal budget earlier this year and with the recent shift to a majority government, Canadians have been awaiting clear direction on the federal government’s policy focus and anticipated initiatives.
Highlights from the Federal Budget 2025
Download this article as a PDF. On November 4, 2025, Finance Minister and National Revenue Minister François-Philippe Champagne tabled the much-anticipated 2025 Federal Budget (Budget 2025). With no spring budget earlier this year, Canadians have been eager for insights into the government’s fiscal priorities and economic direction. Our Advanced Wealth Planning Group has summarized the […]
Reducing Household Taxes Through CPP Sharing
If you are collecting or have applied to collect your Canada Pension Plan retirement pension benefits (CPP) and have a spouse or common-law partner (CLP) in a lower tax bracket, you may want to consider sharing your CPP benefits with them. Let’s look at the “why, how, what and when” of CPP sharing.
2024 Tax Resources
2024 Wellington-Altus Corporate Tax Reference Card Personal Tax Planning Cards LIF and RLIF Minimum & Maximum Factors Personal and Corporate Tax Integration Reference Cards 2024 Form T1135 – Foreign Income Verification Statement 2024 Canada/U.S. Cross-border Tax Reference Card Income Tax Information Slips: Important Dates Income Tax Returns: Important Dates and Deadlines
Canadian Snowbirds and U.S. Taxes: Avoiding Turbulence
Canadian residents who routinely fly south to escape the cold winters at home may not be aware that they could face U.S. tax consequences. This article looks at how spending extended periods in the U.S. can subject Canadians who are not otherwise U.S. taxpayers (i.e. U.S. citizens or green card holders) to U.S. taxes and how they can limit their exposure to such.
Real Estate and U.S. Taxes: The Cost of Ownership
For many Canadians who are not otherwise U.S. persons (“Canadian”), owning property in the U.S. may represent an investment opportunity, a home away from home and an escape from the colder winter months.
The Canada Pension Plan (CPP) – What’s new for 2024?
Most Canadians are familiar with CPP, which provides retirement, disability, survivor, and death benefits for individuals that have been employed in Canada.1 CPP is funded by mandatory annual contributions by employees, employers and self-employed individuals based on their CPP pensionable earnings, which typically include salary, wages or other remuneration, commissions, bonuses, most taxable benefits, and tips/gratuities.
The New Rules for Trust Reporting: Four Unexpected Scenarios
The new enhanced trust reporting rules (“new trust rules”) may catch certain Canadian trusts or informal trust arrangements considered Bare Trusts, that previously did not have to file an annual Trust Income and Tax Information Return (“T3 Return”).
Alternative Minimum Tax – When Does It Apply, How, And For Whom?
The AMT was designed to ensure that high income earning Canadians do not disproportionately reduce their tax liability by applying various tax advantages, such as reporting considerable exempt income or claiming significant tax deductions or credits.