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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May 1 is a special day for Canadians of all types (since it’s the day after taxes are due here), but it’s very special for accoun­tants who’ve spent the past few months first up to their necks in audits (there are many businesses that operate on a calendar year end) and followed that up with […]

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We like to complain (and for good reason) about the litany of taxes imposed on us by various levels of government, but this post on Neatorama details some bizarre taxes through history that make current ones seem tame. Peter the Great, czar of Russia, imposed a tax on souls in 1718…meaning everybody had to pay it […]

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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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