Posts Categorized: Canadian Economy

Richest tax on the rich

Posted by & filed under Accounting Principles, Advanced Accounting, Canadian Economy, Canadian governments, Personal Tax, Tax Planning.

Description: New Brunswick is in the midst of an election campaign, leading up to the September 22, 2014 general election. Some have also said the province is also in the midst of a fiscal crisis, with one popular book on the province’s future using the words “Fiscal Cliff” in its title. In an effort to… Read more »

Conflict? What conflict?

Posted by & filed under Auditing, Canadian Economy, Canadian governments.

From August 26th to 30th, Canada’s smallest province, Prince Edward Island,  hosted the 55th annual conference of Canadian premiers.  This gathering is sometimes also know as the Council of the Federation. During these sessions, the various premiers discuss issues of common interest, and they communicate with the public on the results of their deliberations through… Read more »

Whopper of a deal: Burger King pays billions for Tims

Posted by & filed under Accounting Principles, Advanced Accounting, Canadian Economy.

One of the biggest Canadian business stories of the past week – if not the past year – has to be the announcement last week that Burger King and private equity firm 3G Capital are purchasing Canada’s favourite coffee chain, Tim Hortons. The price: a whopper-sized $12.5 billion. According to the National Post, the combined… Read more »

Canada loses 29,000 jobs in April

Posted by & filed under Canadian Economy.

 Canadian Economy Canada’s economy shed 29,000 jobs in April but the employment rate stayed flat at 6.9 per cent.Fewer people looking for work caused the jobless rate to stay the same, Statistics Canada said Friday. Economists had anticipated an increase of 12,000 jobs for April, according to Thomson Reuters. “There has been little overall employment… Read more »

Corporate tax evasion ‘crackdown’ more bark than bite

Posted by & filed under Accounting Careers, Canadian Economy, Corporate Restructuring, Corporate Social Responsibility, Fraud, Fraud Accounting, Taxation, Taxation & Planning.

Global efforts to stop companies from eroding tax base by moving profits offshore have no teeth, experts say Tax Evasion Tactics In December 2012, demonstrators led a country-wide protest against Starbucks over the coffee chain’s tax evasion tactics. A Reuters investigation found that through the magic of profit shifting, the company had avoided paying any… Read more »

Bitcoin: Be prepared for the rise of digital currency

Posted by & filed under Advanced Accounting, Canadian Economy, Currency, International Business Operations.

One bitcoin is worth $720 Cdn Each day, Lorne Lantz buys his lunch with bitcoin. Some say the burgeoning digital currency has no real value — but his sandwiches say otherwise. Cryptocurrency? Bitcoins and other “cryptocurrency” have started to rise from the fringes of the internet to the cusp of mainstream use — a remarkable… Read more »

Raising minimum wage could rescue the economy

Posted by & filed under Canadian Economy, Taxation.

Ontario premier and U.S. president both champion giving the poorest a raise! This week, Obama and Wynne talked about raising the minimum wage, with Ontario announcing on Thursday that the rate would rise to $11 an hour starting June 1.    Left-of-centre politicians want to raise the wages of the very poorest. From a humanitarian point… Read more »

Investing puzzle a hard one to solve (Tax Free Savings Accounts)

Posted by & filed under Canadian Economy, Taxation, Taxation & Planning.

Increase in savings by Canadians Recent data indicate that Canadians are saving more. Statistics Canada reports that the Household Savings Rate is currently 5.4%, a 0.4% increase from the previous year. Likewise, a recent BMO Bank of Montreal study found that 48% of Canadians are now investing in Tax-Free Savings Accounts (TFSAs), a 23% increase… Read more »