January 14, 2026 – Ottawa, Ontario – Department of Finance Canada Today, the Department of Finance Canada announced the automobile income tax deduction limits and expense benefit rates that will apply in 2026. The following changes to limits and rates took effect as of January 1, 2026: The ceiling for capital cost allowances (CCA) for…
Day: 10 February 2026
Government launches consultation on draft legislation for previously announced and technical tax measures
From: Department of Finance Canada News release January 29, 2026 – Ottawa, Ontario – Department of Finance Canada The Department of Finance today released for consultation draft legislative proposals to implement a range of previously announced tax measures. The proposed changes aim to clarify and improve tax rules, close gaps to prevent tax avoidance, and ensure…
Canada Groceries and Essentials Benefit
The GST credit will be replaced by the Canada Groceries and Essentials Benefit The government is introducing the new Canada Groceries and Essentials Benefit – formerly the Goods and Services Tax (GST) Credit. We are increasing its amount by 25% for five years beginning in July 2026. In addition to that, we are providing a one-time payment, equivalent…