Description: According to Statistics Canada, 2021 was a good year for the wealthy. Canada’s top 1% of income earners saw their incomes go up by 9.4% that year, with the top 0.1% doing even better with an increase of 17.4%, pushing them to an average of nearly $2.1 million. Statistics Canada noted similar increases were… Read more »
Posts Categorized: Canadian Government
13 Billion on Batteries
Description: The Government of Canada is offering $13 billion in subsidies to Volkswagen to build the first auto battery plant in North America. The federal assistance is to be delivered through tax subsidies, contingent upon Volkswagen meeting agreed upon output targets. VW’s planned plant in St. Thomas, Ontario, is slated to open in 2027. It’s… Read more »
Rogers-Shaw Merger Approved
Description: The Government of Canada has approved Rogers takeover of Shaw. The move grants Rogers an even greater share of Canada’s cable and media business. But Rogers mobile phone business will see only limited gains as it picks up the smaller prize, Shaw Mobile, which operates primarily in Alberta and BC. The larger portion of… Read more »
“Beyond Frustrating”
Description: The Government of Canada is scrambling to collect payroll over-payments from thousands of its employees before it runs out of time. These over-payments were generated by the much-maligned Phoenix payroll system, and, the statute of limitations to recover these amounts expires after six years. Phoenix went live in 2016 and problems with pay were… Read more »
CRA Employees to Strike?
Description: Canada Revenue Agency (CRA) employees and the Government of Canada are currently at a collective-bargaining impasse. Strike votes are taking place between now and April 7, right in the heart of tax season, when individuals and businesses are normally flooding the CRA call centres with taxation questions. Union President Marc Brière has noted that… Read more »
Google Test-Blocks Canadians
Description: In an apparent response to the federal government’s Online News Act, Google has blocked some Canadians from their news feeds. Google has called this a test, noting the company runs thousands of tests like this in any given year. The Act will force platforms like Google and Facebook to begin compensating media publishers for… Read more »
Doing Well in Ottawa
Description: McKinsey and Company, one of the world’s best known consulting firms, has been doing well in terms of its billings to the federal government in Ottawa. During Prime Minister Justin Trudeau’s time as prime minister, McKinsey earned roughly $66 million in revenue from the Canadian taxpayer, with close to half of that amount in… Read more »
Phoenix Problems Persist
Description: Well, the good news is that only 28% of federal government employees had an error in their pay during the fiscal year ended 31 March 2022. According to the federal auditor general, that is down from 47% in the prior year, indicating that, although results have improved, the maligned Phoenix pay system is far… Read more »
What’s This New Tax?
Description: The latest federal government budget has announced a new 15% tax on bank profits over $1 billion. The way the government sees it, banks have done exceptionally well during the pandemic, a time when various federal programs assisted the economy. This special Canada Recovery Dividend could raise approximately $4 billion in government revenue, and… Read more »
Rogers-Shaw Deal Approved
Description: Rogers Communications has received approval from the Canadian Radio-television and Telecommunications Commission (CRTC) for its $26 billion plan to purchase Shaw Communications. As part of the approval, Rogers must provide over $27 million to support specific initiatives, including support for local news. Rogers must secure separate approval from the Competition Bureau and Innovation, Science… Read more »
Burnley Understanding Financial Accounting, 3rd Canadian Edition
Kimmel Financial Accounting, 8th Canadian Edition
Weygandt Accounting Principles, 9th Canadian Edition
Kimmel Survey of Accounting, 2nd Edition
Kieso Intermediate Accounting, 13th Canadian Edition
Weygandt Managerial Accounting, 6th Canadian Edition
Farmer Cost Accounting, 1st Edition
Savage Accounting Information Systems, 1st Edition