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Parliament Hill in Ottawa where Spring Economic Update 2026 was tabled

Highlights from the federal Spring Economic Update 2026

Canadian tax /

The federal government’s Spring Economic Update 2026 arrives at an interesting moment. With a newly secured parliamentary majority, the federal government has more room to act decisively on economic policy. The Update opted for a continuation of incremental measures, proposing a mix of targeted spending, tax adjustments and labour market initiatives. While the proposals are […]

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Canadian income tax return and T3 minimum tax

Tax update: That mysterious T3, Schedule 12, line 30 Minimum Tax adjustment

Canadian tax /

This blog hopes to alleviate the confusion over line 30 of a trust’s minimum tax (“AMT”) calculation on schedule 12 and its companion line 42 of an individual’s form T691. The confusion is understandable given the convoluted wording of ITA 127.52(1)(i)(ii)(B) and the absence of any meaningful guidance from Finance or the Canada Revenue Agency

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A person shopping in a grocery store and looking at her receipt, which will be easier to pay with the Canada Groceries and Essentials Benefit

Federal Government proposes new Canada Groceries and Essentials Benefit

Canadian tax /

The federal government has announced a new package of tax and support measures aimed at helping Canadians manage the cost of groceries and other essential items, while also providing targeted assistance to businesses facing supply chain pressures and trade uncertainty. At the centre of this announcement is the Canada Groceries and Essentials Benefit, a redesigned

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Adams + Miles Partner John Seychuk

Partner John Seychuk retires from Adams + Miles after a 41-year career

News /

As the Adams + Miles team gets set to celebrate our firm’s centennial, we want to take a moment to recognize another important, yet bittersweet, milestone: the retirement of our long-time Partner and friend John P. Seychuk. John’s remarkable 41-year career began in September 1984—a very different time in Canada, in business and in our

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Skyscrapers in downtown Toronto, where the Ontario government tabled the 2025 Fall Economic Statement

Highlights from Ontario’s 2025 Fall Economic Statement

Canadian tax /

Ontario’s 2025 Fall Economic Statement offers fiscal restraint at a time of deep economic uncertainty. While the federal government’s recent budget leaned heavily on deficit spending and incentives to spur private-sector investment, Ontario’s plan takes a more cautious path—limiting spending commitments and staying focused on a gradual return to balance. The Fall Economic Statement projects

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high net-worth family on a yacht

How high net-worth families can protect their wealth for generations

Private family and high net-worth /

In our last blog, we shared the cautionary tale of the uber-wealthy Vanderbilt family, whose fortune was squandered in several generations through a combination of over-spending, mismanagement, family expansion and lifestyle factors. If the descendants of one of America’s greatest industrial success stories can see their riches diminish in a few generations, then high net-worth

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Barriers to multi-generational wealth

The barriers to making wealth multi-generational

Private family and high net-worth /

It’s one of the great cautionary tales in financial history. For accountants and wealth managers, it is equal parts baffling and unsurprising. How one of the United States’ greatest industrial families squandered an immense fortune estimated at around $140 billion in today’s dollars (but potentially much more) is difficult to fathom. But the Vanderbilt story

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The newest member of the Adams + Miles partnership group Andrew McConnell

Long-time Adams + Miles manager Andrew McConnell admitted to partnership

News /

When we first met Andrew McConnell, we knew he had some special qualities. He was a young and ambitious accountant-in-training. He possessed a unique drive, attention to detail and a dedication to excellence—attributes that have long been a hallmark of our firm. In those early days as a university co-op student, his potential was clear—and,

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Parliament Hill where the capital gains inclusion rate was deferred

Capital gains inclusion rate hike deferred until Jan. 1, 2026

Canadian tax /

The federal government last week announced plans to defer implementation of the proposed capital gains inclusion rate increase to January 1st, 2026, from the original proposed date of June 25th, 2024. The proposed measure would see the capital gains inclusion rate increase to two-thirds from one-half on annual capital gains realized by corporations and most

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