Canada’s tax code needs an overhaul. Here’s what reform could mean + MORE Aug 19th

One of Prime Minister Mark Carney’s point people on the government’s budget consultations says Ottawa plans to tackle long-awaited tax code reform “one bite at a time” and changes for small businesses are high on the priority list.

The Canadian Press spoke to a number of tax experts and advocates in recent weeks who all agreed that major reform to simplify and improve Canada’s tax system is long overdue. They get little argument from Wayne Long, MP for Saint John—Kennebecasis and secretary of state for the Canada Revenue Agency and financial institutions.

“When you say the word tax code to people, everybody rolls their eyes. Everybody’s like, ‘Oh, the tax code used to be one book thick, now it’s two books thick. We just keep piling on,’” Long told The Canadian Press on Friday. “Is a total review of the tax code needed? Absolutely.”

Long is one of the Liberal MPs who, alongside Finance Minister François-Philippe Champagne, have been fanning out across Canada for pre-budget consultations this summer…

Moving to a different city for post-secondary studies could be your first taste of freedom. But that autonomy over your time, life, and money also means a lot more responsibility—finding housing, figuring out your commute to classes, and managing a whole new set of expenses on your own. All of that comes with a price tag—and sometimes, sticker shock.

Certified financial planner Ryan Lee said students should plan for three buckets of spending when moving away from home: fixed, variable, and one-time moving costs.

The one-time costs include travelling to the new city, a chunk of money for first and last months’ rent, as well as starter furniture and some kitchen essentials. Lee estimates it could cost anywhere between $3,000 and $5,000. If a student is moving to a colder region, Lee said that could also mean a few hundred dollars extra in warmer clothing and winter gear like new boots.

Student money guide

How to pay for school and have a life—a guide for students and parents

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Fixed costs such as monthly rent and bills for things like internet and cellphone could run anywhere between $10,000 and $20,000 a year…

Families eligible for the Alberta Child and Family Benefit (ACFB) can expect the second-last payment of 2026 to drop on August 27, and it will be a bit bigger than the one before.

The ACFB is a provincial program administered by the Canada Revenue Agency (CRA) on behalf of the Government of Alberta. It provides tax-free financial support to low- and middle-income families with children under 18. Eligible families receive payments throughout the year, typically alongside their Canada Child Benefit (CCB) payments.

The ACFB was introduced in July 2020, consolidating the Alberta Child Benefit and the Alberta Family Employment Tax Credit into a single program. It aims to improve the quality of life for children and support their well-being. (See similar programs in other provinces and territories.)

Like most other benefits, the ACFB is indexed to inflation, so the amounts increase every July. With the upcoming payment being the first of the new benefit year, families will get a larger amount…

When people think about career growth, they often focus on developing technical expertise, improving leadership skills, or expanding their professional network. But there’s another skill that can quietly accelerate your career: financial fluency.

Understanding money isn’t just about investing, budgeting, or retirement planning. It’s about understanding how businesses operate, how decisions get made, and how to communicate in a way that resonates with leaders.

Whether you’re negotiating a raise, considering a career move, or aspiring to a leadership role, financial confidence can give you a powerful edge.

Why financial literacy matters at work

Every business runs on numbers; revenue, expenses, budgets, forecasts, and profitability influence nearly every major decision. Yet many professionals spend years building expertise in their field without ever learning the financial side of how their organization operates. That’s a missed opportunity.

People who understand the financial drivers behind business decisions are often better equipped to contribute strategic ideas, communicate their value, and earn credibility with decision-makers…