What’s changing for BC businesses — October 2026
Here’s what changed this month that matters to businesses like yours — 3 updates, each with the date it takes effect and what you can do about it.
Federal fuel excise tax suspension extended to Jan. 31, 2027; rates halved through March
Bill C-38, introduced September 22, 2026, extends the full suspension of the federal fuel excise tax — 10 cents/litre on gasoline, 4 cents/litre on diesel — through January 31, 2027. From February 1 to March 31, 2027, rates drop to half (5 cents/litre gasoline, 2 cents/litre diesel), then return to full rates April 1, 2027. BC trucking companies and gas stations will see continued lower fuel input costs through Q1 2027. Businesses that budget fuel costs or set customer pricing can plan for the step-up back to full rates on April 1.
Changes: 2027-01-31 · Affects: BC trucking companies, gas stations, and other BC small businesses with significant fuel costs
Read the full notice — Finance Canada
Canada’s Productivity Mega Deduction allows full write-off of most assets bought from Sept. 15, 2026
Ottawa proposes permanent immediate expensing for roughly two-thirds of depreciable capital assets — including equipment, vehicles (with some exceptions), and technology — acquired on or after September 15, 2026. Businesses can deduct the full cost of a qualifying asset in the year it becomes available for use, rather than writing it off gradually over many years. Trucking companies and gas stations that buy eligible equipment on or after that date could see a significantly larger tax deduction in year one. The measure is still a proposal, but the stated effective date is September 15, 2026, so timing of planned equipment purchases may matter.
Changes: September 15, 2026 · Affects: BC small businesses, incorporated small-business owners, BC trucking companies
Read the full notice — Finance Canada
Canada imposes counter-tariffs up to 50% on U.S. goods starting Sept. 8, 2026
Canada will match U.S. tariffs dollar-for-dollar starting September 8, 2026, applying counter-tariffs of 15%, 25%, and 50% on $27.6 billion worth of U.S. imports including steel, dairy, appliances, and electronics. Alongside the tariffs, Ottawa announced a $7.5 billion support package that includes liquidity loans through BDC’s Pivot to Grow program (minimum revenue threshold lowered to $1 million), regional development grants, and a new Worker Retention and Retraining Program for employers. BC small businesses buying affected U.S. goods — such as trucking equipment parts, appliances, or steel products — will pay higher input costs beginning September 8. Business owners can check the published counter-tariff product list and explore BDC or Regional Development Agency liquidity programs if cash flow is affected.
Changes: September 8, 2026 · Affects: BC small businesses and owner-operators purchasing U.S. goods subject to counter-tariffs
Read the full notice — Finance Canada
— Dhanda & Company, Chartered Professional Accountants
October 2026 edition