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The Ledger, Feb. 11: The week that was in Canadian accounting news

From corporate tax avoidance to CRA robocalls to Airbnb taxation 

Author: Colin Ellis

TORONTO, Feb. 11, 2018 – Canadian Accountant's weekly round-up of Canadian accounting news stories: 

Canadian corporate tax avoidance

The Toronto Star continues to hammer on its theme of Canadian corporate tax avoidance, with its editorial this week on Turquoise Hill Resources, a subsidiary of Rio Tinto. The original reporting was done by Canadian Press one week earlier. 

New U.S. tax legislation carries cost for Canadians

The Financial Post’s Julius Melnitzer points to an underreported area of new US tax legislation that will bring double taxation to some Canadians—those with US property or dual citizens.

Why CRA robocall tax scams keep finding victims

The Toronto Star has a fascinating and rather sad profile of a senior citizen scammed out of $5,000 by those irritating robocalls received by all Canadians purporting to be from the CRA. It seems this victim was a former draft dodger paranoid about “the knock on the door.” Perhaps it’s time that the Canadian government financed TV advertising about these scams.

Taxing the new sharing economy

Governments across Canada continue to find new ways to tax the new economy, as evidenced this week by the B.C. government and Airbnb reaching an agreement. The government says the tax will fund affordable housing but many housing activists say Airbnb contributes to the housing shortage.

Manitoba CPA’s infamous track record

Arthur Leon Schellenberg, who is listed as a member of CPA Manitoba, was ordered to pay nearly $280K, to be divided between the Manitoba Securities Commission and his clients, for giving investment advice without registration. A little Google research indicates that Mr. Schellenberg is likely “known to police,” as they say, for a rather bizarre, alleged assault, that occurred in 2003. The comments in this earlier article are interesting as well.

New Brunswick tax tolerance a powerful issue

Have New Brunswickers reached the end of their tax tolerance limit? Perhaps controversies like the NB Power smart meter contribute to the perception. (How does a lawyer for J. D. Irving get a place on the province’s on the province’s energy and utilities board?)

Colin Ellis is managing editor of Canadian Accountant.

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