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Controversy Simmers Over Canada’s First Soda Tax

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The Newfoundland and Labrador government is all set to implement the country’s first soda tax beginning September 2022. According to Finance Minister, Siobhan Coady, the new tax will see prices on drinks with added sugars increase by 20 cents per litre. This tax is expected to reap the province an…

New Ontario Business Registry to Make Accessing Government Services Easier

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With the recent launching of the Ontario Business Registry, businesses and non-profits will now be able to more easily access a wide range of government services online. This direct access will be available 24/7 and 365 days a year. Ontario’s Minister of Government and Consumer Services, Ross Romano, said that…

Canada to Delay Big Tech Tax in Favour of OECD Deal

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Canada has resolved to delay its implementation of the upcoming Digital Services Tax from January 2022 to January 2024 as it awaits a new tax system proposed by the Organization for Economic Cooperation and Development (OECD) that will see the application of a minimum cross-border tax of 15% on large…

Understanding NFT taxation

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Cryptocurrencies may be an untraditional currency but their increasing popularity has led to a greater understanding. However, a new phenomenon has started that sees many people making insanely large profits, called Non-Fungible Tokens (NFTs). An NFT is data stored on a database called blockchain. The NFT is unique and cannot…

CRA Tax Professionals Call for Resources to Trace Offshore Tax Cheats

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The Professional Institute of Public Service of Canada (PIPSC) is calling on the government to allocate sufficient time and resources to its tax professionals in a bid to enforce tax laws on individuals and corporations that have been using tax-havens. Following the recent revelations in the Pandora Papers exposé by…
cannabis

Excise Taxes Burdening Craft Cannabis Businesses

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Small cannabis growers are raising concern over high excise taxes that are being imposed on their businesses. According to growers like Dan Sutton of Tantalus Labs, craft businesses are paying as much as 30% in excise taxes on their top revenue lines. A figure that for some can even exceed…

Five years of supporting CPA firms across Canada… and counting.

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By Roman Kaczynski Director, Accountancy Insurance The genesis of our story comes from an Australian CPA, frustrated with how much time was being written off due to taxation review activity. In the 18 years we have been operating in Australia and 10 in New Zealand prior to our stepping into…

A New Platform For Accountants

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Countable just arrived to the accounting scene and it promises to shake up how accountants practice. It is an online platform that can help small to mid-size firms streamline their practice. It is designed to free up time by automating workflow. The platform is a ‘one-stop’ solution for everything from…
bank

Banking Sector Braces for New Tax Following Liberal Minority Win

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Following Justin Trudeau’s Liberal Party win, big banks should expect changes that will see them pay more taxes. Having won just enough seats to form a minority government, the Liberals are expected to deliver on election promises that included a 3% surtax on profits exceeding $1 billion made by banks…
housing

Rising Property Prices Not Due To Lack Of Supply

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Canada’s housing crisis is not just local to Canada but felt around the world. Shelter and housing are a human right yet high house prices and affordability is at an all-time low. High prices can be partially attributed to shortage of supply, but that’s not the only reason and building…