February 29, 2024 by Sean Grant-Young

2024 Nunavut territorial budget tax highlights

On Feb. 27, 2024, the Nunavut government released its 2024-25 budget. The following are highlights of the key tax measures.

May 18, 2022

A strong outlook thanks to a solid foundation

Despite significant challenges, the outlook for the engineering and construction industry across the country remains positive and highly receptive to mergers and acquisitions.

May 9, 2022

HVAC industry shows no signs of cooling off

In a new report examining the Canadian HVAC industry in Q4 2021, Baker Tilly Canada Capital Corporation analyzes the industry’s strong performance. 

April 26, 2022 by Mandeep Gaheer, Hassanatu Timbo

Budget 2022: Adapting international tax measures

Canada is one of 137 members of the Organization for Economic Cooperation and Development (OECD) that have joined the two-pillar plan for international tax reform. Budget 2022 reiterates the government’s commitment to address the challenges arising from the digitalization of the economy, and to work towards implementing both Pillar One and Two.

June 22, 2021 by Leigh-Anne Finch

How to attract and retain talent in the new labour market

As society advances through the pandemic, 2021 could see the highest number of people (re)entering the workforce and changing jobs in recorded history.

April 19, 2021 by John F. Oakey

COVID-19 Emergency Business Supports – Extensions and a new program

With the release of Budget 2021 amid the global COVID-19 pandemic, it was expected that the federal government would expand some of the federal relief programs, as well as introduce new ones. The 2021 budget accomplished both the extension of existing business support programs and the introduction of a new benefit.

April 19, 2021

2021 Federal Budget Commentary

The Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance today tabled her first federal budget titled “A Recovery Plan for Jobs, Growth and Resilience”.

February 4, 2021 by Richa Khanna

To compile or not to compile?

Many of you are quite happy with the compilation standards in place today.

The existing standard on compilation engagements was issued in 1987. While it might have been a revolutionary standard in its day, time has come to make this area of practice more relevant to the needs of users in the current day and age.

September 10, 2020 by Ben Berci

Home office expense deductions during the pandemic

With the recent increase in work-from-home arrangements due to COVID-19, many taxpayers may now be eligible to claim a deduction for their home office costs.

March 20, 2019

Infographic: Budget 2019 highlights

Some of our experts’ top takeaways from this election-year budget include:

March 7, 2019 by Todd King, Martha MacRae

An official pardon for the GILTI

As an update to our article Planning for IRC 951A: No Reprieve for the GILTI, the IRS has recently released regulations that provide a significant benefit to many US individual taxpayers grappling with the new GILTI regime.

January 31, 2019 by John F. Oakey

Proposals address tax recovery on excess payments

Department of Finance introduced draft legislation on January 15, 2019 in response to errors made by the Phoenix payroll System regarding overpayments to public service employees. Although this legislative response was to deal with the aftermath of the Phoenix System, the proposal applies to both the public and private sector.

July 30, 2018 by Bob Boser

Avoiding and Getting Off of The TOSI Highway

On July 18, 2017 the Federal Finance Minister announced proposals to change the tax rules related to income splitting using private corporations. The original proposals were subsequently withdrawn in October, re-released in December and after further changes the proposed legislation was included in Bill C-74 in March 2018. Bill C-74 received Royal Assent on June 21, 2018 and the new tax on split income (TOSI) rules are now in effect as of the beginning of 2018.

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.

October 11, 2016 by Julie Chrétien, Dan Gauthier

Fraud protection: what’s the F word costing you?

Fraud – it’s everyone’s business. That dreaded F word is a prevalent crime we can’t afford to ignore. With one in every five businesses victimized in the past year, fraud has become a big threat and a serious ongoing challenge for Canada’s economy.

June 10, 2016

U.S. proposes new rules for related-party debt

On April 4, 2016, the U.S. Treasury Department and the IRS issued proposed regulations which govern whether certain related-party debt instruments will be classified as either debt or equity for U.S. federal income tax purposes. These rules are designed to prevent the excessive shifting of profits between related entities by way of interest charges on related-party debt instruments.