Tag: canada

Canada’s Inflation Rate Hits 8.1percent

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Despite inflation setting the highest record since 1983 by reaching 8.1% in June, the outcome was better than what financial analysts expected. Their earlier predictions were that inflation would rise to 8.4%. Though gas prices were a key driver that saw consumers pay 6.2% more in June as compared to…

Canadian Wineries Get Federal Government Support

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With the recent return of a federal tax on domestic brands, Canadian wine prices are expected to rise by about 4%. This change comes after the government was able to resolve a dispute with Australia at the World Trade Organisation (WTO) that allowed for the repeal of an excise duty…

Why No Gas Tax Holiday Just Yet

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Statistics Canada is reporting that in May, pump prices rose by 48% as compared to the same period last year thanks to supply constraints and high crude oil prices. This surge was further exacerbated by the growing demand for fuel due to the easing of travel restrictions instituted during the…

Concern Grows Over Possible Recession

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As the Bank of Canada raises interest rates to keep pace with spiralling inflation and the stock market performance dims as the economy runs out of room to grow, it appears a perfect storm is brewing for a recession to strike. The concern is that as the central banks raise…

Seniors Concerned Following T4A Tax Slip Delay

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Tens of thousands of Canadian seniors have reportedly been unable to file their 2021 tax returns following an error made by Service Canada in regards to their federal tax slips. Taxpayers have a May 2, 2022 deadline to submit their tax returns. The CRA has not extended this deadline. Senior…

Calls To Suspend Carbon Tax Implementation Rise

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As fuel prices continue to rise, there are growing calls for the Canadian government to put a freeze on the implementation of the carbon tax set to go into effect as of April 1. The planned increase will raise the federal carbon tax by 2.2 cents, pushing the total carbon…

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…

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…

Wealth Tax On the Cards as Cliffhanger Elections Close

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One of the most highlighted issues during the elections has been the desire to see Canada’s wealthiest pay their fair share of taxes. The New Democratic Party (NDP) and conservatives have put forward proposals that would see an overhaul to the current tax system. NDP is seeking to introduce a…