RLB Blog

On March 26, 2026, the Ontario Government tabled its 2026 provincial budget. While the budget covers several significant initiatives, there are a few key highlights we have summarized for what you need to know and, importantly, what actions may be worth considering before key deadlines arrive.

On July 1, 2025, the U.S. Senate passed an amended version of the Republican tax bill known as “The One Big Beautiful Bill.”  While the final details are still being finalized, we want to share a summary of the key provisions that may be relevant to our clients, especially those with U.S. tax exposure or cross-border interests. 

.author-area {display:none !important} Executive summary Canadian businesses and individual taxpayers should consider a proactive approach to tax planning amid heightened uncertainty following Justin Trudeau’s resignation as Liberal Party leader and prime minister on Monday. The subsequent proroguing of Parliament could pose concerns as the tax policy implications of Trudeau’s departure remain undetermined.

On June 10, 2024, drafted legislation was released regarding the proposed changes to capital gains previously announced in the earlier 2024 Federal Budget.  The announcement reaffirmed that the changes are intended to become effective beginning June 25, 2024, and additional information was provided regarding the transition to these rules.

Effective June 25, 2024, Federal Budget 2024 proposed to increase the capital gains inclusion rate from 50% to 66.7%. Individuals will have an annual $250,000 capital gains safe harbour at which the old inclusion rate will continue to apply. This change has many Canadians reconsidering their succession plans for their family cottages and asking whether it’s better to sell their property or gift it to the next generation.

Effective June 25, 2024, Federal Budget 2024 proposed to increase the capital gains inclusion rate from 50% to 66.7%. Individuals will have an annual $250,000 capital gains safe harbour at which the old inclusion rate will continue to apply. This change has many Canadians considering their options for triggering capital gains in their portfolio. Is now the right time, and how do you know?

Whether you are a US resident or not, it is important that all individuals understand US estate tax and how it can affect them upon death. Estate taxes are taxes that are imposed on the transfer of a person’s estate after their death. These taxes can be imposed by both the United States government and the Canadian government, and they can significantly impact the value of an estate.  

The division of income for state corporate income tax purposes is an important consideration for businesses operating in multiple US states, including Canadian businesses expanding into the US. For more information on the corporate income tax considerations for Canadian companies expanding into the US, we recommend reviewing our post on this topic, available here. 

On September 14, 2023, Prime Minister Justin Trudeau announced plans to introduce new legislation to enhance the GST Rebate on new rental apartments. The new legislation is intended to incentivize construction of new rental homes and improve housing affordability for Canadians. 

Being asked to be the Executor of a Will (or the Executor of an Estate) is one of the greatest possible honours any one person can receive. It is a true testament of trust bestowed upon you by the individual in question. While being asked to act as an Executor is certainly a flattering experience, it is important to know this responsibility can sometimes require an enormous amount of work—becoming a full-time job in some cases.