Amendments have been made to the National Instrument 52-108 Auditor Oversight and its Comparison Policy granting the Canadian Public Accountability Board (CPAB) better access to audit working papers from auditors in foreign jurisdictions. If the amendments receive appropriate ministerial approvals, they will come into effect from March 30, 2022. These…

There were expectations that the Bank of Canada would increase interest rates. However, in an unprecedented move, the decision was made to maintain the core lending rate at a very low 0.25%. This target was set at the beginning of the pandemic in March 2020. It was viewed as a…

In a survey conducted by tech vendor Capterra, it appears that public favour concerning cryptocurrencies is growing. Although few Canadian businesses accept payment in such digital currencies, at least 25% of respondents confirmed currently dealing in crypto, while another 37% indicated plans to use them soon. The survey also found…

Quebec Premier, Francois Legault, has announced plans to introduce a tax on adults that decline to get vaccinated against the Covid-19 virus for non-medical reasons. He has termed it a ‘consequence’ for those that were placing an important burden on the healthcare network. The province has been hard hit by…

Despite the dampening financial impact of the pandemic across the globe, this period has seen property prices sharply rise in much of the Canadian market, particularly during 2021. According to WOWA, the two most expensive real estate markets remain Toronto and Vancouver. As of December 21, 2021, the average sold…

For several days, Canadian taxpayers trying to log onto Canada Revenue Agency’s (CRA) online services have found themselves blocked by a ‘systems maintenance’ notification. The decision to take the agency offline was prompted by a cybersecurity vulnerability that has reportedly affected various organisations around the world. The CRA has confirmed…

Toronto city councillor, Mike Colle, has confirmed plans to propose the introduction of a speculation tax during the next council meeting in January 2022. The intention is to see new taxes applied to home buyers who are not buying principal residences and will target speculators and home flippers whose growing…

Canada Border Services Agency (CBSA) is cautioning online shoppers to be aware that they may be liable for duties, taxes, and brokerage fees when purchasing foreign goods. Online shopping has become more prevalent during the pandemic and is expected to peak further this holiday season. Even with Black Friday and…

It is trying times for cryptocurrency investors as incidents of crypto scams appear to be on the rise. The lure of Bitcoin, Ethereum, Cardano and others has done much to boost the demand for digital currencies but with devastating consequences for some Canadians. Recently, two Ontario women reported having lost…

A new Postmedia/Leger poll indicates that though two-thirds of Canadians do support equalization, a smaller majority of 54% feels that some provinces take unfair advantage of the program and do not do enough to boost their own economic growth. This opinion was found to be most strongly held in Alberta…