Profession

Business

New Brunswick: Holt says 'we got a lot done,' but opposition parties beg to differ

A new provincial government concluded its first legislative session with several tax reduction measures but did not remove the so-called Irving Oil gas tax
Business

House-Flippers Beware: You are not eligible for GST/HST new housing rebates

Canadian tax lawyer and accountant David J Rotfleisch explains why the Tax Court upheld a Canada Revenue Agency notice of assessment in Ram v The King
Profession

US audit watchdog reports deficiencies in 2024 audit by Baker Tilly WM LLP

The Public Company Accounting Oversight Board reviewed an audit conducted in 2024 by the Vancouver-based accounting firm and flagged non-compliance issues
Partner Posts

Accounting 2030: Exploring the future of the profession

In part two of his chat with Chad Davis and Josh Zweig, co-founders of LiveCA, Ben Richmond of Xero discusses how CPA firms can meet the challenges to come
Practice

Losses, expenses arising from transactions that are not 'sufficiently commercial' may be ineligible to reduce your income tax

Canadian tax lawyer and accountant David J Rotfleisch explains why the Tax Court dismissed the FX trade case of a successful businessman in Chad v The King
Profession

Canadian Public Accountability Board eases enforcement action against Smythe LLP

Vancouver-based accounting firm Smythe LLP still prohibited from accepting new high-risk reporting issuer audit clients, says Canadian audit watchdog CPAB
Business

Councillors want information on disturbing rise in St. Catharines homeowners unable to pay soaring tax bills

Revelations of rising numbers of property owners in St. Catharines unable to pay their property tax bills have prompted one city councillor to take action
Profession

Sunday News Roundup 25.05.25: CPA Ontario dues, CPAs on AI in HBR online, and more Canadian accounting news

Our weekly Canadian accounting news roundup includes social media commentary on CPA Ontario dues, an HBR article on AI board use authored by CPAs, and more
Practice

How the CRA uses 'nudge letters' with online sellers to increase uptake of Canada's VDP

Canada Revenue Agency uses nudge letters to prompt taxpayers to review their tax affairs, ensure compliance, and access the Voluntary Disclosures Program
Practice

Case Analysis: Why a business must demonstrate actual business activities before applying for business tax deductions

David J Rotfleisch examines the case of a chartered professional accountant who claimed business expenses for a company he cofounded in Prince Edward Island
Business

Alberta: Jasper's chamber of commerce critical of municipal budget

Businesses in Jasper say they’re paying for the 2024 wildfires caused by climate change, but the province has kicked in $2.5M for lost property tax revenue
Profession

Canadian Public Accountability Board eases enforcement action against PKF Antares

Alberta accounting firm allowed to accept new medium-risk reporting issuer audit clients, but some restrictions remain, says Canadian audit watchdog CPAB
Practice

Tax Court Of Canada is not ‘slap-dash,' nor tolerates sloppy examination for discovery

David J Rotfleisch explains why the Tax Court of Canada, in Whistler Blackcomb Holdings Inc. v The King, 2025, dismissed the CRA's motion for a new nominee
Profession

US audit watchdog finds multiple deficiencies in Vancouver accounting firm Smythe LLP audits

The US Public Company Accounting Oversight Board determined Smythe LLP had a 100 per cent deficiency rate in three 2023 audits the PCAOB inspected in 2024
Thought Leaders

Oh, what a tangled web: The taxation of foreign affiliates

Allan Lanthier examines a dispute before the Tax Court of Canada involving Brookfield Corporation and controlled foreign affiliates in Bermuda and Barbados
Municipal

New Brunswick: New municipal fiscal framework announced by N.B. government

Expanded funding from the province is welcome news to New Brunswick municipalities, but a property assessment freeze has withered its delivery
Practice

Loss-trading transactions to avoid paying tax disallowed by Tax Court Of Canada (GAAR rule)

In Total Energy Services v. HMK, the FCA upheld a Tax Court ruling that complex transactions satisfied three conditions of the general anti-avoidance rule
Business

Number of St. Catharines properties in tax arrears soars under current council

Recent property tax increases not due to inflationary pressures impacting most residents across Ontario but largely due instead to excessive labour costs
Profession

Sunday News Roundup 25.05.04: Federal election disappoints accountants and more Canadian accounting news

Our weekly Canadian accounting news roundup includes election disappointment among conservative accountants, the PCAOB fighting to survive, and more.
Business

Property taxes in Whitehorse, explained

The Yukon calculates property taxes differently than in other parts of Canada, primarily due to a lack of data, which impairs market value assessments
Practice

Case Commentary: Ayre v the King – Convoluted charitable gifts made through questionable financing transactions

Canadian tax lawyer and accountant David J Rotfleisch examines donative intent under Section 118.1 of the Income Tax Act in a pharmaceutical donation case
Profession

Sunday News Roundup 25.04.27: Election tax talk, CRA mishaps, PCAOB gutting, and more Canadian accounting news

Our weekly Canadian accounting news roundup includes tax commentary during the federal election campaign, the end of the PCAOB, mishaps at the CRA and more
Partner Posts

How accountants can navigate tax implications for wealthy Canadian investors in a shifting political landscape

Four strategic tips during election season for accountants and your clients from Brian McGlynn of investment portfolio accounting software Wealth Write.Up
Thought Leaders

Why accountants should spend less time on the numbers and more time explaining the results 

Accounting standards are becoming so complicated, says Philip Maguire, CPA, CA, that we have lost the ability to explain the results
Partner Posts

Five years post-Covid: Reflecting on accounting’s 'new normal'

Chad Davis and Josh Zweig, co-founders of LiveCA, talk to Ben Richmond of Xero about professional practice and how to meet the moment as a modern accountant