Forbes reports that the CRA has initiated audits in the cryptocurrency space, sending select taxpayers a lengthy and exacting questionnaire requiring information regarding the taxpayer's investments, ...

Widespread use of the depository system in Canada and the U.S. imposes practical limits on income trusts’ ability to monitor and control non-resident ownership of their units. Many income trusts are subject to restrictions on the ownership of their units by non-residents of Canada .

The Canada Emergency Wage Subsidy (CEWS) program is by now well-known.

A revenue projection method is a technique that may be implemented during the audit of a taxpayer. Briefly, IVI techniques are used in an attempt to determine the income of a taxpayer...

On October 26, 2017, the Canadian Securities Administrators published for comment CSA Consultation Paper 52-404 – Approach to Director and Audit Committee Member Independence.

The Canadian Bar Association and the Auditing and Assurance Standards Board have issued a new Joint Policy Statement (the "JPS 2016"), which will come into effect on December 1, 2016. A copy of the JPS 2016 can be accessed here.

New proposals to expand the audit powers of the Canada Revenue Agency (CRA) under the Income Tax Act could significantly raise the risk that Canadian taxpayers...

The COVID-19 pandemic brought delays, backlogs, and closures across the Canada Revenue Agency (CRA) in 2020.

In a short decision dated December 5, 2018 in the matter Dion v. Quebec Revenue Agency, 2018 QCCQ 10280 ...

A detailed review of the Canada Emergency Wage Subsidy ("CEWS") can be found in our updated detailed review of the Federal Economic Measures here.

We use a risk based approach to audit a company's year-end financial statements, but the term " risk based audit approach" can sound like the latest in business buzzwords similar to holistic, innovative and mission critical.

COVID-19 has quickly and severely disrupted supply chains and international trading routes. Governments and their customs agencies are streamlining customs clearance procedures,...

The new BC Limitation Act came into force on June 1, 2013. One of the significant changes was to reduce the basic limitation period for most claims to two years from the date the claim was discovered.

In October 2021, the Not-for-Profit Corporations Act, 2010 ("ONCA") came into force. Ontario not-for-profit corporations have three years to transition their governing documents to conform with the ONCA.

On January 10, 2025, the Ontario Divisional Court released its decision in Dixie X-Ray Associates Ltd. v. Ontario (Minister of Health). This pivotal decision not only clarifies what qualifies...

In Lavender v. Miller Bernstein LLP, Justice Belobaba heard a motion by the representative plaintiff for summary judgment on several of the common issues certified in the class proceeding against the defendant auditor.

In Grant Thornton LLP v. New Brunswick, the Supreme Court of Canada (SCC) unanimously held that a claim is discovered – and the limitation period begins to run – when the plaintiff knows, or ought to know,...

The CRA has general powers to require persons to provide information related to a tax audit however these general powers are limited, such that, the CRA cannot require persons to provide third party documents without judicial authorization.

The Canada Revenue Agency has confirmed that tax audits can be settled before completion, but significant cases require multiple layers of internal review and approval. Understanding CRA's internal settlement processes, including the role of the Audit File Resolution Committee, can help businesses develop effective strategies for resolving disputes efficiently and avoiding costly objections.

The Ontario Not-for-Profit Corporations Act, 2010 ("ONCA") came into force on October 19, 2021. Not-for-profit corporations incorporated in Ontario will have a three year transition period...