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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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