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Real Estate Authorities Build Anti-Money Laundering Network

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On April 9, the two real estate regulators – the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) and the Real Estate Council of British Columbia (RECBC) – announced that they have entered a memorandum of understanding (MOU) in an attempt to prevent money laundering in the real estate…

Canada’s Economy Might be in The “Detour” Longer Than Expected

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The Canadian economy continues to struggle with its recent slowdown, and signs of recovery remain elusive. GDP fell once again in the fourth quarter of last year, in part due to a slowdown in the energy sector, which cut down on oil production. Other factors include lower household spending and…

Challenges continue for Canada’s economy

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Canada continues its search for positive economic news as multiple trends across various economic sectors remain pointed in the wrong direction. The country’s economic foundation means that potential for growth continues to exist, although in the short term such a reversal seems elusive. Joy Thomas, CEO of Chartered Professional Accountants…

Challenges Facing Canadian Businesses in 2019

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The end of 2018 brought mixed news to Canada’s economy, as some business sectors reported better than expected growth while others are facing a slowdown. Complicating the situation were many controversies involving the Canada, US and China. Canada’s arrest of Huawei CFO Meng Wanzhou brought to a head several underlying…

Reports Slam Canada’s Tax System

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Chartered Professional Accountants of Canada (CPA Canada) has long criticized and called for an in depth review of the Canadian tax system to ensure competitiveness and fairness.  In their new report, Canada’s Tax System: What’s so Wrong and Why it Matters, CPA Canada criticized the current Canadian tax system for being ‘outdated and overly…

Some 270,000 Canadian Veterans Shortchanged Over Disability Pension

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The federal government has discovered a massive accounting blunder that has deprived more than 270,000 veterans of their disability payments. Veterans Affairs Canada has claimed that the CA $165 million shortchange is due to a miscalculation. After the Veterans Ombudsman’s office uncovered the massive shortfall, Veterans Affairs Minister Seamus O’Regan…

New Beginnings for Canada’s Growing Economy

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With rising economic uncertainty around Brexit, increased sparring over trade between the US and China, and much concern about the fate of a NAFTA-less world, Canada recently had the opportunity to appreciate a genuinely satisfying moment: the sound of an important piece clicking into place. The recently devised USMCA (United…