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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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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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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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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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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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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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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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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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