Practice

Profiles

Alberta: Yellowhead riding’s Conservative candidate speaks about diverse needs of massive riding

William Stevenson is a chartered professional accountant who served as a financial agent for multiple MPs; he wants to work on tax reform and the CRA
Practice

Case Commentary: Yadgar v. The King — When trusting your accountant 100% is not an acceptable defence in the Tax Court Of Canada

Canadian tax lawyer and accountant David J Rotfleisch explains how an immigrant success story went wrong in the Tax Court of Canada and the court of appeal
Practice

What can we expect for U.S. estate tax under a second Trump administration?

Margaret O'Sullivan of O'Sullivan Estate Lawyers ponders possible scenarios in anticipation of the sunset provision this year of the Tax Cuts and Jobs Act
Profession

In detailed report, PCAOB finds deficiencies in half of KPMG Canada audits inspected

The Public Company Accounting Oversight Board found deficiencies in five out of 10 KPMG Canada audits it inspected in 2023 as well as issues of independence
Practice

Case Commentary: How the CRA abused the voluntary disclosure process for this Canadian taxpayer

The Canada Revenue Agency proposed to reassess the Milgram Foundation after accepting its voluntary disclosure application thus prompting a judicial review
Practice

When can Canadian taxpayers apply to reopen a trial at the FCA from the Tax Court?

As Canadian accountant and tax lawyer David J Rotflesich explains, reopening a court case depends upon the introduction of fresh evidence and error of law
Practice

How to dispute your tax assessment under Toronto's 2024 Vacant Home Tax

A hundred thousand tax assessments were reversed in 2023, but the City of Toronto has taken concrete steps to revamp the VHT regime for the 2024 tax year
Practice

Tax changes a worry for retiring farmers

Farming advocates continue to oppose tax changes that would affect profits from the intergenerational sale of agricultural land despite mitigating measures
Practice

Six strategies to minimize probate fees in your estate plan

These succession planning strategies can be cost-effective and save large amounts of tax that would otherwise be payable upon admitting the will to probate
Profession

PCAOB finds deficiencies two of three BDO Canada audits, including one non-principal engagement

The US audit watchdog inspection report details audits with unsupported opinions by BDO Canada and firm-identified instances of independence non-compliance
Profession

Public accounting regulator expands oversight powers

Bradley E. Berg and Sahil Kesar of Blakes review the first amendments to the regulatory rules of the Canadian Public Accountability Board in almost 20 years
Practice

Taxpayer's failure to review tax return contributed to negligence, Tax Court Of Canada finds

The CRA can reassess a taxpayer beyond the normal reassessment period if tax return misrepresentations are due to carelessness, neglect or willful default
Practice

Case Commentary: Watts v the King, 2024 TCC 100 — Enhanced costs of litigation

A recent Tax Court of Canada judgment shows why litigants should be aware of all potential court costs asserts tax lawyer and accountant David J Rotfleisch
Profession

MNP LLP closes year strong with major acquisition of 21 BDO Canada accounting firms

Homegrown national accounting firm MNP expands its presence in four provinces as a continuation of its ‘national in scope, local in focus’ growth strategy
Partner Posts

2025: The year AI becomes the accountant’s ultimate partner

2025 promises to be pivotal for accounting, says Ben Richmond of Xero, a moment when AI and mobile technology converge to redefine how accountants work
Practice

Court allows Canada-US tax treaty credit against investment tax

Allan Lanthier examines the recent Bruyea decision of the US Court of Federal Claims, which allowed a tax treaty credit against US tax on investment income
Practice

What are a taxpayer's rights during an access to information and privacy (ATIP) request for their own tax records?

Canadian tax lawyer and accountant David J Rotflesich looks at case law involving requests to the Canada Revenue Agency for disclosure of relevant records
Practice

Loupy's: Deemed self-assessment after GST/HST number cancellation

When a taxpayer ceases to be a GST/HST registrant, they can face a significant tax liability, as in the case of Loupy’s Restaurant before the Tax Court of Canada
Profession

CPAB censures Davidson & Company LLP for ‘numerous’ violations of independence rules

Vancouver-based accounting firm censured by Canadian Public Accountability Board based on information disclosed during inspection by US audit watchdog
Practice

Case Commentary: Onex Corporation v. Canada, 2024 FC

Section 1247, subsections 220(2.1) and 220(3), of the Income Tax Act can grant relief from tax reassessment and filing requirements, says David J Rotfleisch
Business

Thunder Bay: Doane Grant Thornton helps business leaders make a vibrant community

Doane Grant Thornton, which recently rebranded, held a Vibrant Communities civic improvement event at Fort William Historical Park for Thunder Bay business
Practice

How to use "well accepted accounting principles" to your advantage to calculate business or property income for a taxation year

Canadian accountant and tax lawyer David J Rotfleisch explains how accounting standards like GAAP and IFRS pertain to business and personal income taxation
Practice

Case Commentary: Glencore v. Canada — How are commitment and break fees in M&A transactions taxed? Windfall or business income?

When the Supreme Court of Canada denied Glencore’s leave to appeal, it ended a 30-year tax dispute, and characterized complex M&A fees as business income
Thought Leaders

The Big Four accounting firms often consult for the same clients they audit. Should that be allowed?

Accounting research shows that the Big Four, when engaged as compensation consultants, appear to uphold more rigorous standards than smaller counterparts
Partner Posts

Report: Canadian small business owners’ financial literacy skills come up short

David Emmerman of Xero explains how Canadian accountants and bookkeepers can empower small business owners with the financial resources they need