David J Rotfleisch explores whether the Foix decision by the FCA radically undermines the tax benefits of a hybrid sale when selling a private business

Wrapping up the odds and ends from the past week in Canadian accounting news

With the economic substance wording in the general anti-avoidance rule, Finance Canada has given a present to the tax judiciary, says Raymond G. Adlington

Critics believe the rift represents a threat to a national unity in the Canadian accounting profession and the merger of three designations into the CPA brand

Audit regulator's mid-year inspections report suggests Canada’s largest accounting firms are showing little audit quality progress as a group

MaryAnne Loney of McLennan Ross LLP looks at three areas of tax planning related to private corporations that will change in 2024

Canadian tax accountant and lawyer David J. Rotfleisch discusses ITFs, including tax implications, issues and alternatives to these unregistered investment accounts

The lack of consultation with the wider membership on its split from CPA Canada has led to accusations that the dispute is a power grab by CPA Ontario

Relief requests beyond the statute of limitation may still be available, depending on the circumstances, explains tax accountant and lawyer David J Rotfleisch

Laurie Goldbach and Steve Suarez of BLG on disclosure of tax planning documents and the Tax Court's treatment of accountant-client privilege

Unlike the rest of Canada, the accounting profession in Quebec is not self-regulated, leading to legitimate issues between l'Ordre and CPA Canada

Chartered Professional Accountants of Canada rejects provincial claims of poor financial transparency and says it is open to doing more

A case before the BC Supreme Court included violations of the Income Tax Act and Excise Tax Act explains Canadian accountant and lawyer David J Rotfleisch

The courts will increasingly gravitate toward the minority approach in the Deans Knight decision, assert the tax lawyers of Counter Tax Litigators

A thought leadership article on high income earners in the UK may hold some insights into Canadian attitudes towards inequality and taxation among the wealthy

Developing new recipes qualifies for Scientific Research and Experimental Development credits, explains David J Rotfleisch, when you make frozen pies

In the dispute between provincial and national accounting bodies, politicians say CPA Ontario's regulatory legislation is unaffected by key disagreements in the rift

US audit watchdog releases inspection reports with multiple deficiencies for PwC Canada, De Visser Gray LLP, and Harbourside CPA LLP

The Public Company Accounting Oversight Board in the United States has censured Canadian firm K.R. Margetson and its principal, Keith R. Margetson

It is not the Tax Court's job to provide equitable relief, David Rotflesich explains, as the Income Tax Act provides a bright-line test for medical expense tax credits

After a decade of underfunding, the Internal Revenue Agency is receiving a cash injection, similar to the reinvestment in the CRA by the Trudeau government

Canadian taxpayers will benefit if the CRA follows the IRS in the paperless processing of income tax returns but not at the expense of customer service

Canadian tax lawyer and accountant David J Rotfleisch explains why taxpayers should not necessarily trust CRA publications such as folios, bulletins and circulars

Does your accounting firm have clients that are in a position where incorporation makes sense? Ownr’s professional partner program can help

Founders of the Profession category includes critic of international financial reporting standards, cannabis company accounting, audit scandals and more