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

Four years of trade wars and tariffs from the Trump administration could slash East Coast jobs and bring misery to Maritime premiers says political analyst

Muncipalities auction properties for the amount in property taxes owed (with a minimum tender bid) and will advertise sales in local and government media

Chartered Professional Accountants may be enveloped into privilege if they are the client’s agent, pursuant to an agency agreement, explains Dean Blachford

While small business owners have mixed emotions about the tax holiday, some working parents were grateful for the beneficial break on goods and services

Liberal leadership contender Mark Carney is proposing to shift the financial burden of the carbon tax onto large corporations to fund clean energy choices

William Stevenson is a chartered professional accountant who served as a financial agent for multiple MPs; he wants to work on tax reform and the CRA

UCP Premier Danielle Smith has created a cabinet committee to find government cost savings to pay for the postponed personal income tax cut election promise

Canadian tax lawyer and accountant David J Rotfleisch explains how an immigrant success story went wrong in the Tax Court of Canada and the court of appeal

Margaret O'Sullivan of O'Sullivan Estate Lawyers ponders possible scenarios in anticipation of the sunset provision this year of the Tax Cuts and Jobs Act

The Public Company Accounting Oversight Board found deficiencies in five out of 10 KPMG Canada audits it inspected in 2023 as well as issues of independence

The Canada Revenue Agency proposed to reassess the Milgram Foundation after accepting its voluntary disclosure application thus prompting a judicial review

An export tax on Canadian oil and gas to the United States could inflict pain on the American economy but could also backfire in the States and domestically

As Canadian accountant and tax lawyer David J Rotflesich explains, reopening a court case depends upon the introduction of fresh evidence and error of law

Alberta is not paying its municipalities the full cost of property taxes for its provincial properties and local ratepayers are shouldering the extra costs

Like Canada, Australia created a digital tax that US President Trump could deem as discriminatory or extraterritorial, and subject to retaliatory tariffs

Many small businesses across Canada rely on accountants without designations for bookkeeping and corporate taxes — but non-designated firms lack oversight

A hundred thousand tax assessments were reversed in 2023, but the City of Toronto has taken concrete steps to revamp the VHT regime for the 2024 tax year

Canadian companies and pension funds were already lobbying for appropriate tax treatment ahead of President Trump pulling out of the OECD minimum tax deal

Accounting standards have focused on the balance sheet, says Philip Maguire, CPA, CA, yet the effort to match book value to market value has been a failure

Farming advocates continue to oppose tax changes that would affect profits from the intergenerational sale of agricultural land despite mitigating measures

Donald Trump has put Pierre Poilievre in a political bind, with two feuding conservative premiers, stale messaging around taxes and no coherent trade policy

Numerous factors including inflation, limited housing, a weaker dollar, and global political tensions, continue to play a significant role in affordability

These succession planning strategies can be cost-effective and save large amounts of tax that would otherwise be payable upon admitting the will to probate

The US audit watchdog inspection report details audits with unsupported opinions by BDO Canada and firm-identified instances of independence non-compliance