Practice

Profession

Sunday News Roundup 26.03.22: KPMG audit deficiencies, Deloitte AI errors, and more Canadian accounting news

Our weekly Canadian accounting news roundup includes CPAB audit inspection reports, why you should join CPA Canada, the accounting dealbook and more.
Practice

Unpaid payroll deductions: Federal Court Of Appeal affirms bona fide purchaser defence for unsecured creditors

Toronto-Dominion Bank v. Canada confirms that innocent unsecured creditors are not automatically liable to repay unremitted payroll deductions to the Crown
Practice

When a donation is not really a gift: The court's rejects on tax-driven charity arrangements, gifts must be genuine

The Federal Court of Appeal decision in Walby v Canada reinforces an important principle in Canadian tax law, says tax lawyer and accountant David J Rotfleisch
Practice

Canada's anti-deferral regime and the FAPI rules: When offshore trust structures trigger more tax

A common misconception in offshore tax planning is that tax treatment of foreign trusts is determined solely by where the trust is administered or governed
Profession

Big Four accounting firm Deloitte Canada comes out on top in first firm-specific inspection reports from audit watchdog

KPMG Canada has highest rate of files with significant findings among Big Four firms according to reports published by Canadian Public Accountability Board
Practice

If a company is revived, are former directors liable for unpaid GST again?

The Maragos decision by the Tax Court of Canada reinforces the importance of limitation periods in tax law, explains Canadian tax lawyer David J Rotfleisch
Practice

Taxpayer sought judicial review of CRA's decision to refuse changing his 2004 income tax return

In Rawlings v AGC, the taxpayer successfully won the right to amend his tax return, after the Federal Court found CRA actions unfair, says David J Rotfleisch
Practice

Accepting money from a spouse with tax problems can give you a bigger problem with the CRA

Courts will focus on economic reality, not technical form, when applying anti-avoidance provisions like section 160, explains tax lawyer David J Rotfleisch
Practice

When taxpayer relief, CPP limitation periods, and procedural finality abandon fairness without a remedy

Tolley v The King is a reminder that developments after tax reassessments, no matter how convincing, cannot alter relief from reassessments retroactively.
Thought Leaders

Modernizing the GST/HST small-supplier threshold: A compliance fix hiding in plain sight

The issue is not whether GST/HST should exist. It’s whether the threshold governing its application still reflects sound administration in today’s economy
Practice

Superstars, Steroids and Succession

Enhancing a succession plan using Succession Enhancers is like hitting a grand slam without any controversy involved, says Matthew Getzler of Torkin Manes LLP
Practice

When CRA employees misbehave and make mistakes against Canadian taxpayers

The Canada Revenue Agency distinguishes clearly between employee misconduct and wrongdoing, applying different legal and administrative frameworks to each