Practice

Practice

As Big Four foreign firms punished for exam cheating, PwC Canada fines put into perspective

The Public Company Accounting Oversight Board hit KPMG Netherlands with a record US$25-million civil civil penalty for widespread improper answer sharing
Profession

Sunday News Roundup 24.04.07 Bare trusts, KPMG decision, PCAOB-PKF, and more Canadian accounting news

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

Two of the Big Four accounting firms failed their audit inspections in 2023 — but we don’t know who

The Canadian Public Accountability Board says it will take at least two years before more transparency is provided as to which firms fail and which succeed
Profession

Sunday News Roundup 24.03.31 Bare trusts laid bare and more Canadian accounting news

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

Airbnb sale subject to GST/HST

Amit Ummat and Alisha Butani of Ummat Tax Law provide an overview of the Tax Court of Canada’s ruling in 1351231 Ontario Inc v. The King, 2024 TCC 37
Practice

CPA Ontario fines Deloitte Canada partners over backdating of audit working papers

Five Deloitte partners to pay $40k each in fines and costs for manually overriding computer clocks to backdate audit working papers in multiple engagements
Partner Posts

Driving growth and client success: The power of client advisory services in accounting

Client Advisory Services represent a paradigm shift in public accounting, explains Karen Chalmers of interVal, which automates the discovery process using AI
Practice

How international athletes are taxed in Canada: Toronto Maple Leafs' captain John Tavares embroiled in tax litigation with CRA

Tavares is a high-profile opportunity for the CRA to test the limits to the structuring of athlete salaries explains Canadian accountant and tax lawyer David J Rotfleisch
Practice

Case Commentary: Cassidy v Canada — using extraordinary circumstances, CRA's delays, inability to pay, or financial hardship

Why the Federal Court, in Cassidy v Canada, ruled that a CRA officer's decision was unreasonable, and the taxpayer received relief over unpaid taxes
Practice

What to do when the CRA refuses taxpayer relief

Tax accountant and lawyer David J Rotfleisch explains how a corporate director won relief from the CRA over payroll remittance in Maverick v HMK, 2023
Practice

PCAOB finds fault with half of Ernst and Young Canada audits inspected

US audit watchdog inspection report details audits with multiple deficiencies and potential non-compliance with independence rules over financial relationships
Practice

The General Anti-Avoidance Rule may be expanding: What you need to know

Aron Grusko and Nick Noonan of Fillmore Riley LLP say recent legislative changes and Supreme Court decisions reflect an increasingly expansive view of GAAR
Practice

Case Commentary: Csak v The King 2024 TCC – transfers of property while owing taxes to the CRA

David J Rotfleisch explains why the Tax Court of Canada found the Canada Revenue Agency's 1988 and 1989 reassessments statue-barred
Profession

Mystery solved: How foreign accounting firms won big in new audit client gains and losses

Among the many curiosities of the 2022 new audit client gains and losses data were the prevalence of foreign firms and the dearth of cannabis companies
Practice

Taxpayer sidesteps gross-negligence penalties and $90,000 in taxable income because tax year was statute-barred

As David J Rotfleisch explains, the decision by the Tax Court of Canada in Abbass V The King centred on a bookkeeping error by the taxpayer's accountant
Practice

Director held personally liable for unremitted and uncollected GST/HST — due diligence defence judged insufficient

Case commentary from Canadian tax accountant and lawyer David J Rotfleisch on the Tax Court of Canada decision in Hall v The King
Practice

Case Commentary: CRA violates procedural fairness for CERB/CRB claims

Canadian tax lawyer and accountant David J Rotfleisch examines the Federal Court decision in Cameron v. Canada (Attorney General) in favour of the taxpayer
Practice

Ontario Court holds that a recent former auditor cannot act as CCAA Monitor in the absence of extenuating circumstances

David Bish and Mike Noel of Torys LLP on circumstances that would cause a court to exercise its discretion to appoint a former auditor as Monitor
Practice

Made a mistake on your tax return? Here's how to change your Canadian tax return through the tax objections process

Canadian tax lawyer and accountant David J Rotfleisch explains the legal history behind the tax objections process but cautions against aggressive tax strategies
Practice

Intergenerational business transfer rules are changing in 2024

Kenneth Keung and Jason Lau of Moodys Private Client Law say tax practitioners will need to ensure they have a full understanding of new IBT rules
Practice

A new era for the Canadian GAAR

Pooja Mihailovich and Leandra Gupta of Osler, Hoskin & Harcourt LLP say the new era may compound uncertainties and add to compliance and dispute costs
Practice

Homegrown national accounting firm MNP kicks off 2024 with new Quebec acquisition

Lafond CPA merger gives MNP a foothold in the Bas-Saint-Laurent region of La Belle Province, close to the border with New Brunswick
Practice

Canadian audit watchdog CPAB bans American accounting firm BF Borgers

The Canadian Public Accountability Board closed 2023 as it had begun — with an enforcement action against an American public accounting firm
Practice

When is it worth challenging the CRA's defective Tax Court pleadings?

Tax accountant and lawyer David J Rotfleisch reconciles the Federal Court Of Appeal's decisions in the similar but different Preston and Adboss cases
Practice

A Canadian tax lawyer explains why the ATIP process is critical to preparing for tax disputes with CRA

An Access to Information or Personal Information (ATIP) request can be a double-edged sword despite its importance to resolving tax matters