Practice

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
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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
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- VIEWS 160

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
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- VIEWS 160

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
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- VIEWS 160

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
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- VIEWS 160

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
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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
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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
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- VIEWS 160

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
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- VIEWS 160

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
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- VIEWS 160

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
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- VIEWS 160

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
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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
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- VIEWS 160

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
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- LIKES 149
- VIEWS 160

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
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- VIEWS 160

Profession
Which Big Four accounting firm failed its annual inspection (again)? Maybe we’ll find out in 2026
The Canadian Public Accountability Board has released its annual inspection results. One Canadian firm continues to show no public audit improvement
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Practice
Case Commentary: Canada v. Csak – Why filing a waiver for a tax reassessment must be done within the normal reassessment period
Closing a dispute that had lasted for more than 10 years, the Federal Court of Appeal overturned a Tax Court waiver decision, explains David J Rotfleisch
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Practice
New guidance from the CRA: Transactions subject to the GAAR
The Canada Revenue Agency is now offering guidance on the application of the amended GAAR through a webpage, explains Raffaella Garofalo of Miller Thomson
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Profession
Historic change to audit inspection reports announced by Canadian accounting watchdog
With its rules now changed, the Canadian Public Accountability Board will begin to name names in its annual audit inspection reports, beginning in Q1 2026
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Thought Leaders
CPAs in 2025: Frustrated, overworked, and underappreciated
From uncertainty to compliance to staffing, Chartered Professional Accountants say their stress is not offset by client appreciation, reports Dean Blachford
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Practice
Case Commentary: Onischuk v. The King – Tax Court rules cannot override CRA's statutory requirements
A nil assessment is an objection exception because it is not an assessment and hence cannot be objected to or appealed from, explains David J Rotfleisch
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Practice
Case Commentary: Uppal Estate v. the King upholds procedural fairness for Canadian taxpayers in tax litigation
The decision emphasizes the duty of the CRA in Tax Court pleadings and serves as a procedural safeguard for Canadian taxpayers explains David J Rotfleisch
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Practice
US audit watchdog censures KPMG Canada for repeatedly failing to accurately disclose who performed audits
Public Company Accounting Oversight Board levies US$700k against KPMG Canada, US$3.375 million in total against nine member firms of global network
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Practice
Top 10 need-to-know Canadian income tax cases from 2024
From Dow Chemical to Coopers Park, Dominic Bédard-Lapointe, Anu Koshal and Al-Nawaz Nanji of McCarthy Tétrault review each case and its impact on taxation
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Practice
A widow is not a spouse: Canadian court saves widow from the CRA's $100,000 derivative tax assessment
In Enns V Canada, 2025 FCA 14, the timing of an RRSP transfer was critical to the decision, explains Canadian accountant and tax lawyer David J Rotfleisch
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- VIEWS 160