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Can interest on U.S. tax arrears be deducted in Canada? Insights from Bank of Montreal v. the King

Amit Ummat of Miller Thomson LLP explains that, while refund interest may sometimes qualify as income, arrears interest on foreign taxes is not deductible

Canada’s tax agency may be the key to driving dangerous truck operators off Peel's roads

The Canada Revenue Agency could solve the dangerous trucking problem in Peel Region overnight if it enforced laws for contractors and underground economies

Facing wage pressures, YRP requests double-digit budget hike

A proposed York Regional Police budget hike would account for most of the overall tax levy in one of the lowest municipal property tax regions in Ontario

Canadian Public Accountability Board extends enforcement action against Manning Elliott LLP

British Columbia based accounting firm will still be prohibited from accept new high-risk reporting issuer audit clients, says Canadian audit watchdog CPAB

BC accounting firm DMCL fined for AML/ATF non-compliance by FINTRAC

Canada's financial intelligence unit, the Financial Transactions and Reports Analysis Centre, levied the fine against Dale Matheson Carr Hilton LaBonte LLP

AI won’t replace accountants — it’ll make them indispensable

Accounting firms that modernize their tech stacks, invest in Canadian-compliant AI platforms, and focus on high-impact client service, will lead the future

Can interest on U.S. tax arrears be deducted in Canada? Insights from Bank of Montreal v. the King

Amit Ummat of Miller Thomson LLP explains that, while refund interest may sometimes qualify as income, arrears interest on foreign taxes is not deductible

Canada’s tax agency may be the key to driving dangerous truck operators off Peel's roads

The Canada Revenue Agency could solve the dangerous trucking problem in Peel Region overnight if it enforced laws for contractors and underground economies

Facing wage pressures, YRP requests double-digit budget hike

A proposed York Regional Police budget hike would account for most of the overall tax levy in one of the lowest municipal property tax regions in Ontario

Canadian Public Accountability Board extends enforcement action against Manning Elliott LLP

British Columbia based accounting firm will still be prohibited from accept new high-risk reporting issuer audit clients, says Canadian audit watchdog CPAB

BC accounting firm DMCL fined for AML/ATF non-compliance by FINTRAC

Canada's financial intelligence unit, the Financial Transactions and Reports Analysis Centre, levied the fine against Dale Matheson Carr Hilton LaBonte LLP

AI won’t replace accountants — it’ll make them indispensable

Accounting firms that modernize their tech stacks, invest in Canadian-compliant AI platforms, and focus on high-impact client service, will lead the future

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Statements

Tax Law

David J. Rotfleisch

Agreements must be in writing: Hutchings v. the King, a case of Covid-19 rent subsidies

Economics

Douglas A. Stuart

Trump renews push to end quarterly reporting — here’s what that would mean

Taxation

George Gonzalez and Gillian Holthe

International remote work: Tax issues, Part II (Canadian companies)

Economics

Luc Godbout

Staying the course toward sound public finances

Taxation

Michael Ciomyk, Rojin Esmaeili and Zoë Sebastien

Significant positive changes to reinvigorate the Voluntary Disclosures Program for income tax and GST/HST

Financial Reporting

Philip Maguire

How accountants can combat inefficiencies

Taxation

Stephen Hsia and David Tang

A victory for all charities, not just housing providers: 3 takeaways from Stamford Kiwanis

Accounting Profession

Zubair Choudhry

Embracing the Future: RPA Canada’s commitment to AI and innovation in accounting

Accounting News

Business

New Brunswick: Province says no extra money to compensate for property tax freeze
Property tax freeze compensation and tax credits were the main issues of discussion at the annual conference of the Union of New Brunswick Municipalities
Provincial

Ford’s speed camera cut could cost taxpayers up to $140K next year
Niagara-on-the-Lake says taxpayers may have to make up the difference in revenue loss through increased property taxes due to Doug Ford speed camera ban.
Municipal

Municipalities across Ontario warn of property tax increases due to Doug Ford's speed camera ban
Like his expensive policing contract, Doug Ford’s decision to ban speed cameras will cause property taxes to increase, say municipalities across Ontario
Profession

Sunday News Roundup 25.09.28: Expanded CRA audit powers, MAGA attacks IFRS, and more Canadian accounting news
Our weekly Canadian accounting news roundup includes adversarial audit powers at the Canada Revenue Agency, MAGA attacks on accounting standards, and more
Profession

Canadian audit watchdog censures another Mississauga accounting firm
The Canadian Public Accountability Board has prohibited Abu-Farah Professional Corporation from accepting all new reporting issuer audit engagements
Practice

PCAOB inspection report: Ernst and Young Canada lowers audit deficiency rate
EY Canada lowers deficiency rate from 50 to 25 per cent according to US audit watchdog inspection report over four 2024 audits by Big Four accounting firm

Confidence is the new currency in the AI economy

The growing partnership between accountants and AI not only transforms accounting but strengthens SMB leadership confidence says Ciarán Quilty of Intuit



Open Banking: A crucial shift for Canadian accountants

Five ways for Canadian accountants and bookkeepers to prepare for the swift and transformed landscape of open banking, as explained by Mike Cascone of Xero



What can Canada learn from Ireland’s corporate tax approach?

Ireland shows that clear rules, competitive tax rates, and simplicity can help drive economic growth