The Canadian government released a mini-budget this past week that featured serious tax cuts. The GST goes down another point to 5% and the lowest bracket of personal tax is lowered back down to 15%. Corporate taxes continued their downward trajectory. The CICA focused first on the reduction to corporate taxes: “The government’s commitment to […]

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KPMG is being sued in a proposed class action lawsuit filed the Friday (paywall) before the long Labour Day weekend, citing employees were forced to work unpaid overtime hours. The lawsuit alleges KPMG employees routinely work as many as 90 hours a week to complete assign­ments on behalf of clients. The firm allegedly requires employees […]

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The Globe and Mail, a Canadian daily, has a feature on their website today where three tax experts from Couzin Taylor LLP and Ernst & Young LLP answer questions from readers about the interest deductibility “feature” of the Federal government’s budget. I’ve blogged about this compli­cated topic a couple of times now but never really […]

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In late March I talked about the Canadian Federal budget, which had been recently released, and how it included a measure to prevent companies from deducting interest on debt incurred to fund foreign opera­tions. I couldn’t under­stand the logic of the move. It seemed strange for a conser­v­ative government normally known to be friendly to business. […]

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Yesterday’s Globe and Mail: The federal Finance Department is acknowl­edging it could reap a bonanza of additional tax revenue from a contro­versial budget move to scrap the deductibility of interest that companies incur to fund foreign opera­tions. I’m trying to under­stand the logic here but I can’t. I know this is money leaving the country, but […]

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