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Annual Inflation Rose to 2.2 per cent in November, According to Statistics Canada

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In November 2019, the consumer price index shot up to 2.2 per cent compared to the same period in 2018, Statistics Canada recently reported. This comes after it held fast at 1.9 per cent for three months. The cost of gasoline experienced a year-over-year increase of 0.9 per cent, compared…

Raising the Carbon Tax is the Best Way for Canada to Meet Paris Targets, Says Ecofiscal Commission

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The most cost-effective way for Canada to meet its 2030 Paris Agreement targets would be for it to quadruple its carbon tax to CA$210 a tonne, according to a recent report from the Ecofiscal Commission. The report from the independent think-tank acknowledges the potential unpopularity of such a move, but…

More Than 8,000 Aspiring Accountants Awaiting Results of CPA Canada Examination

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Over 8,000 would-be accountants will not find out if they will receive their CPA designation until early next year. Technical difficulties caused lengthy delays in many parts of the country during the three-day national final exam in September. Results are ordinarily provided in November, but CPA Canada now says that…

B.C. Cryptocurrency Exchange Shuts Doors, Owing More Than $16M CAD to Customers

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Canadian cryptocurrency trading site Einstein Exchange has shut down, leaving more than $16 million CAD worth of assets locked up in the platform. Attempts by clients to retrieve their money were to no avail. A deal between the exchange and a US-based investor was almost completed, yet in the end…

CRA Hones in on Private Contractors Who Shop at Home Depot

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As part of its crackdown on unreported income, Canada Revenue Agency is targeting suspected under-the-table home improvement contractors who buy their materials from Home Depot. Back in July, the CRA obtained a Federal Court order that compels Home Depot Canada to give the CRA a list of their customers, along…

Video Tax News is Offering Audit Shield Clients Special Pricing on Their Newest Online 1-hour Webinar “Practicing Tax Ethically.”

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What if my client lies to CRA? …or to me? How do I deal with conflicting taxpayer interests? What about newly discovered errors from the past? Have these questions ever crossed your mind? This 1-hour pre-recorded webinar examines the common conflicts, ethical dilemmas, business pressures and other related challenges that…

Companies May Be Forced to Give Canadian Public Accountability Board Access to Information

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Audit inspections may soon have an improved ability to carry out comprehensive investigations. The Canadian Securities Administrators have proposed changes that would allow better access to audit workers, especially under foreign jurisdictions. According to a recent statement, “Reporting issuers will be required to direct audit firms who are not subjected…

Two Canadian Men Scammed Out of a Combined $25,000

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Criminals impersonating Canada Revenue Agency officials have been scamming people by approaching them with fraudulent complaints, which they then offer to resolve via Bitcoin. Canadian Police have sent out warnings to citizens, urging caution if they are confronted over related issues. Up to CAD $25,000 has been leeched off of…

Canada Revenue Agency is Investigating Failed Cryptocurrency Exchange QuadrigaCX

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The Canada Revenue Agency is auditing QuadrigaCX’s corporate tax returns, according to the bankruptcy trustee overseeing its case. The CRA sent a letter to bankruptcy trustee Ernst & Young announcing that it will be reviewing QuadrigaCX’s tax corporate tax returns ranging from 2015 to 2018. QuadrigaCX was Canada’s largest cryptocurrency…

Bank of Canada Holds Fast on 1.75% Interest Rate

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As predicted by a majority of economists last month, the Bank of Canada did not change interest rates, even though the mounting tensions in the US-China trade war affected the global economy more than it predicted in July. For a seventh meeting in row, the central bank’s policy makers decided…

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Annual Inflation Rose to 2.2 per cent in November, According to Statistics Canada

Raising the Carbon Tax is the Best Way for Canada to Meet Paris Targets, Says Ecofiscal Commission

More Than 8,000 Aspiring Accountants Awaiting Results of CPA Canada Examination

B.C. Cryptocurrency Exchange Shuts Doors, Owing More Than $16M CAD to Customers

CRA Hones in on Private Contractors Who Shop at Home Depot

Video Tax News is Offering Audit Shield Clients Special Pricing on Their Newest Online 1-hour Webinar “Practicing Tax Ethically.”

Companies May Be Forced to Give Canadian Public Accountability Board Access to Information

Two Canadian Men Scammed Out of a Combined $25,000

Canada Revenue Agency is Investigating Failed Cryptocurrency Exchange QuadrigaCX

Bank of Canada Holds Fast on 1.75% Interest Rate

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