Practice

Practice

Case Commentary: Rotfleisch v. Canada – Filing an objection does not stop the alleged tax owing from accumulating interest

Canadian tax lawyer and accountant David J Rotfleisch looks at a Federal Court of Canada decision in a case going back to 2004 in which he was the applicant
Thought Leaders

Canada needs an open finance roadmap, not just open banking

Canada has a window to learn from open banking examples around the world and design an open finance roadmap that fits its own needs says Eric Saumure, CPA
Practice

PCAOB inspection report: Almost half of PwC Canada audits included significant deficiencies

PricewaterhouseCoopers lowered its deficiency percentage from 63 to 43 per cent, according to US audit watchdog review of seven audits conducted in 2024
Practice

CPA Ontario fines former KPMG Canada partner $50k over failed Laurentian University audit

Laurie Bissonette, who led the KPMG audit engagement team just prior to Laurentian filing for insolvency, also had her fellowship designation suspended
Practice

Tax evasion, tax compliance, and actual tax collection compared: Italy is worse, while Canada is improving

Italy relies on broad tax amnesty schemes to recover lost revenue; the Canada Revenue Agency prefers the structured, ongoing voluntary disclosure program
Practice

Concerns about overseas work cited as status revoked for two religious charities

According to the Canada Revenue Agency, the tax status of the two charities was revoked due to practices in Israel and the Democratic Republic of the Congo
Practice

The same but different — The types of dividends and their impact on taxes

Misclassifying the kind of dividend you declare can quickly land you in hot water with the CRA, explain Alex Shchukin and Mariem Naem of Devry Smith Frank LLP
Practice

Poor record-keeping sinks two Canadian charities

Evangelical World Outreach of Canada of Winnipeg and Mazel Charity Fund of North York both lost their charitable status despite 2020 CRA compliance letters
Practice

British Columbia Court Of Appeal upholds additional transfer tax assessment in foreign entity trust case

Legal title matters more than beneficial ownership when it comes to BC’s additional transfer tax, say Cameron Funnell and Richard Baker of Watson Goepel
Thought Leaders

Rudeness is hurting auditors’ ability to protect the public — here’s how

A new study co-authored by Canadian accounting academics shows negative behaviour from clients should be treated as an risk factor — and provides solutions
Profession

Change of leadership at audit watchdog CPAB at critical time for audit, accounting regulation

Former Ontario Securities Commission regulatory executive Sonny Randhawa, CPA, CA to replace Carol Paradine at helm of Canadian Public Accountability Board
Practice

Recent Tax Court cases on ISC business expenses

John Bassindale and Daniel Zhang of Millar Kreklewetz look at two recent Tax Court cases involving multi-level marketing and independent sales contractors