March 14, 2024 by Sean Grant-Young

2024 Québec provincial budget tax highlights

On March 12, the Québec government released its 2024 budget. The following are highlights of the key tax measures.

March 4, 2024 by Sean Grant-Young

2024 Alberta provincial budget tax highlights

On Feb. 29, the Alberta government released its 2024 budget. The following are highlights of the key tax measures.

July 26, 2023 by Mike Hayward, Dean Morris

BT Canada offers recommendations on transfer pricing reform

At Baker Tilly Canada, we are committed to helping ensure fairness and integrity in the Canadian tax system.

As part of this commitment, we are grateful for the opportunity to provide our input on the Department of Finance consultation paper regarding reform and modernization of Canada’s transfer pricing rules.

March 22, 2023 by John F. Oakey, Brenda L. Scott

Québec Budget 2023-2024 tax highlights

On March 21, the Québec government released its 2023-2024 budget. The following are highlights of the key tax measures.

March 4, 2022 by John F. Oakey

2022 Prince Edward Island budget tax highlights

On February 24, the PEI government released their 2022 budget. The following are highlights of the key tax measures.

December 16, 2021 by M. Ruphina Kaulback

Immediate expensing: buyer beware

As part of the federal government’s economic recovery plan, Budget 2021 proposes new measures that provide Canadian-controlled private corporations (CCPCs) the ability to immediately expense certain capital purchases acquired on or after April 19, 2021.

November 23, 2021

Sourcing and closing better deals with PitchBook

In its role as a financial advisor, Baker Tilly Canada Capital Corporation (BTCC) helps small- to mid-size companies execute sell-side, buy-side and valuation engagements. 

October 22, 2021 by John F. Oakey

Government announces targeted COVID-19 support measures

On October 21, 2021, two days before most of the Federal government’s COVID-19 recovery programs were set to expire on October 23rd, Deputy Prime Minister and Finance Minister Chrystia Freeland announced the expansion of these programs under a more targeted approach.  This announcement was subsequently supported by information published by the Department of Finance on their website.

September 21, 2021

The profits and pitfalls of maintaining QSBC share status

With the recent Royal Assent of Bill C-208, owners of incorporated small and medium-sized businesses, and their tax advisors, were reminded that proactively monitoring and maintaining qualifying small business corporation (QSBC) share status is essential to make many tax-planning strategies possible. There are many traps that may cause the unintended loss of QSBC share status, and when the time comes to take advantage of available tax planning, it can be too late to correct the problem.

May 13, 2021 by John F. Oakey

New business registry created for all Ontario businesses

Updated May 13, 2021 (see below)

The Canada Revenue Agency (CRA) and Service Ontario announced they are severing ties as of May 15, 2021 regarding the agreement to submit Ontario corporate annual information returns through the CRA’s tax filing system.

April 22, 2021 by John F. Oakey

2021 British Columbia provincial budget tax highlights

On April 20, 2021, the B.C. government released its 2021 budget. The following are highlights of the key tax measures.

April 9, 2021 by John F. Oakey

2021 Manitoba provincial budget tax highlights

On April 7, 2021, the Manitoba government released its 2021 budget. The following are highlights of the key tax measures.

April 8, 2021 by John F. Oakey

2021 Saskatchewan provincial budget tax highlights

On April 6, 2021, the Saskatchewan government released its 2021 budget. The following are highlights of the key tax measures.

March 9, 2021 by John F. Oakey

Wage and rent support extended to June

The Canada Emergency Wage Subsidy (CEWS) and the Canada Emergency Rent Subsidy (CERS) were legislated to be available until June 2021 with details of the program provided up to March 13. On March 3, the Department of Finance announced the details for the final three claim periods covering March 14 to June 5, 2021.

April 27, 2020 by John F. Oakey

Canada Emergency Wage Subsidy – Subsidize up to 100% of payroll costs

Today is application day for the Canada Emergency Wage Subsidy (CEWS), and in certain circumstances, you can get up to 100 per cent subsidy of your payroll costs.

March 14, 2018 by Martha MacRae, Todd King

U.S. Tax Reform Punishes U.S. Citizens Abroad

From a taxation perspective, the period from July 2017 to February 2018 has been one of the most tumultuous in recent history for Canadian private company owners. For those who also have the privilege of being U.S. citizens or resident aliens, things have gotten downright ludicrous. In a rush to pass into law the most sweeping tax reform in a generation, U.S. lawmakers have stuck U.S. citizens resident in Canada with retroactive, double taxation, the elimination of much of the tax deferral previously available in their companies, a looming April 17^th payment deadline and virtually no rules or regulations to guide them through the chaos.

February 27, 2018 by John F. Oakey

How will the new Passive Investment Income rules actually affect CCPCs?

OTTAWA, ON – After months of public consultation, speculation and concern, the rules regarding Passive Investment Income have finally been unveiled. In today’s 2018 Federal Budget release the government announced that passive investment income over a certain limit will now reduce a Canadian-controlled private corporation’s (CCPC) small business deduction.

March 29, 2017 by Jamie Welsh

A little free advice: encourage your auditor to speak freely

Having led over 1,000 audits of almost every shape and size, I often find myself in possession of extremely confidential and sensitive client financial information. This position of privilege occasionally provides me with a glimpse into a cross-section of some of the most successful (and sometimes unsuccessful) businesses in Canada each and every year. It is from this vantage point that I am offering a little free advice from a simple auditor to any client or potential client.

March 6, 2017 by Kevin Tippett

Foreign corporations operating in the United States

*Updated March 10, 2017

With increasing frequency, Canadian corporations are venturing across the border into the United States to perform services or sell their products. Consequently, we often field questions about the U.S. corporate income tax filing requirements for Canadian corporations generating revenue from our trading partner to the south. This article summarizes some of those requirements.

May 25, 2016 by Nicole Liesemer

Revenue Recognition for Technology Companies for Multiple-Element Arrangements under IFRS 15

The International Accounting Standards Board (IASB) has published a new standard, IFRS 15 Revenue from Contracts with Customers (IFRS 15). IFRS 15 sets out requirements for recognizing revenue that apply to all contracts with customers and replaces the myriad of current revenue standards.

This new standard is effective for annual reporting periods beginning on or after January 1, 2018.