Chartered Professional Accountants of Canada (CPA Canada)’s Post

Exploring Solutions for Today's Housing and Affordability Challenges CPA Canada's Chief Economist, David-Alexandre Brassard will meet with Hon. Lisa Raitt, Co-Chair for Coalition of a Better Future to discuss the task force mandate and how it connects with measures announced in the recent budget.

CPA Canada continues to hear from members and other Canadians about the unintended consequences of changes to capital gains inclusion rates – and we continue to advocate on behalf of the profession and the public to the federal government. We are concerned, not only about the impact of these specific changes (including the fast-approaching deadline, despite there being no legislation in place), but about the overall trend in tax policy that is making the system more convoluted and complex, even for tax professionals. That's why we also continue to call on the government to undertake a comprehensive review of the tax system, rather than enact piecemeal policies that further complicate it. Our tax VP, John Oakey, wrote a column for the Financial Post, in an effort to help the broader business community understand why these calls for tax reform are essential for economic growth. https://lnkd.in/dK6_tEzx ****** Des membres et d’autres parties prenantes du pays continuent de communiquer avec CPA Canada au sujet des conséquences imprévues qu’auront les modifications du taux d’inclusion des gains en capital, et nos démarches auprès du fédéral en vue de représenter les intérêts de la profession et du public se poursuivent. Nous sommes préoccupés non seulement par l’incidence de ces changements (et notamment par le fait que leur date de mise en place approche malgré l’absence de dispositions législatives à ce chapitre), mais aussi par la tendance générale à la complexification des politiques fiscales, devenues alambiquées même pour le fiscaliste. C’est pourquoi nous continuons aussi d’exhorter le gouvernement à réaliser un examen exhaustif du régime fiscal plutôt que d’adopter des politiques à la pièce qui ne font que le compliquer davantage. Notre vice-président, Fiscalité, John Oakey, a rédigé une chronique pour le Financial Post dans le but d’aider les gens d’affaires à comprendre pourquoi ces appels à une réforme fiscale sont essentiels à la croissance économique.

Join us September 10-11 at The ONE National Conference, hosted in partnership with CPA Alberta! We're offering both in-person and virtual formats this year with customized packages to target your area of focus and budget. Gain industry-specific knowledge and the professional advantage you need for the next stage of your career with a packed agenda covering topics from leadership and development to audit and tax. Flexible pricing starts at $999, making it easier than ever to attend. #CPAtheONE

If you're a CPA or CFA interested in business valuation, Chartered Business Valuators Institute (CBV Institute) is presenting a series of nation-wide roadshows starting on May 7 to highlight the challenging opportunities and competitive advantages of a career in this field. Expect an informative presentation, interactive Q&A, and the chance to network with experienced CBVs—all accompanied by complimentary food and drinks! See here for more information about a roadshow event in a city near you: https://ow.ly/BrF950Rrbqt ****** CPA et CFA, l’évaluation d’entreprise vous intéresse? Le 7 mai prochain, le Chartered Business Valuators Institute (CBV Institute) amorce une tournée d’information nationale pour mettre en lumière les perspectives stimulantes et les avantages distinctifs d’une carrière dans ce domaine. Au programme : exposés éclairants, séance de questions interactive, occasions de réseautage avec des experts en évaluation d’entreprises chevronnés, hors-d’œuvre et rafraîchissements inclus. Consultez le programme pour savoir quand la tournée s’arrêtera dans une ville près de chez vous : https://rb.gy/1hrhun

As the fallout from capital gains changes in the federal budget continues, Prime Minister Trudeau made a passing reference about the role of accountants in the tax system, alluding to wealthy Canadians who “use accountants” to pay less tax. We at CPA Canada strongly support the important role of accountants in shaping our nation’s financial landscape—on behalf of all Canadians. Our profession is built on the pillars of ethics and integrity and we continually advocate for a tax system that embodies simplicity, fairness, efficiency, and competitiveness. These principles guide our ongoing advocacy work with the federal government, including our pre-budget submission, which recommended that the government adhere to a principled approach to tax policy and administration that is driven by purpose and vision, as opposed to politics and expediency. Chartered Professional Accountants play many key roles within diverse segments of the economy including industry, public accounting, government, education and the not-for-profit sector. They offer a strong set of accounting and managerial skills required for today’s complex and evolving environment. CPAs are broad-minded, forward-thinking professionals who undertake appropriate analysis, exercise good judgment, communicate effectively and act to protect the public interest. We understand the complexities involved in tax legislation and are dedicated to maintaining a robust framework that ensures Canadians benefit from a just and equitable tax system, which is why CPA Canada will continue to call for a comprehensive review. CPAs are committed not just to compliance, but to leadership in fostering a stable and transparent financial environment. Our focus remains on advancing policies that support the economic well-being of Canadians. In communities across Canada, CPAs work tirelessly for a diverse set of clients and support those people in need through volunteer programs such as the Community Volunteer Income Tax Program which provides free tax clinics. We continue to hear from members who are concerned about the unintended consequences of the capital gains inclusion rate changes on middle-class Canadians. We stand ready to work with the government to refine and enhance our tax system, ensuring it serves the best interests of our diverse population. CPA Canada stands behind its members and will be contacting the Prime Minister’s office. #TaxPolicy #FairTaxation #CPACanada #FinanceCanada https://lnkd.in/gBQVVtru

Pamela Steer, FCA, FCPA, CFA, President and CEO of CPA Canada, will be sharing her personal journey from CFO to CEO at a dinner event hosted by the Toronto Chapter of Financial Executives International Canada (FEI Canada) on May 7th. Come join us to hear more how her mindset and approach to leadership has evolved, as well as her own personal growth story. Register now: https://lnkd.in/ge-wZ_mJ ****** Le 7 mai prochain, lors d’un souper organisé par la section torontoise de Dirigeants financiers internationaux du Canada (Financial Executives International Canada (FEI Canada)), Pamela Steer, FCA, FCPA, CFA, présidente et chef de la direction de CPA Canada, nous entretiendra de son parcours du poste de chef des finances à celui de chef de la direction. Comment sa vision des choses et son approche du leadership ont-elles évolué au fil du temps? Pour en prendre connaissance, ne manquez pas cette causerie où elle livrera sa perspective toute personnelle de la chose. Inscrivez-vous : https://lnkd.in/ge-wZ_mJ (en anglais)

Federal Budget 2024 Debrief Join us LIVE at 12:30pm ET April 17th 2024 on LinkedIn for our Federal Budget Debrief, where John Oakey, VP of Tax and David-Alexandre Brassard, Chief Economist will share their post-budget analysis. This is a great opportunity to connect with our experts and other practitioners LIVE in the chat as we unpack how the budget will impact our economic outlook and tax practitioners. (Session in English only)

Federal Budget 2024 is no game-changer. Instead, it continues Canada on the path of increased spending and taxation, leaving longer-term challenges, such as productivity and competitiveness, largely unaddressed – kicking the fiscal responsibility can down the road. The government has committed to nearly $50 billion in new spending measures, about half of that covered by new tax measures and the other half from a better-than-expected revenue outlook and an additional $10 billion in debt. Budget 2024 laid out plans to raise the annual inclusion rate for individuals’ capital gains of more than $250,000 from one-half to two-thirds. In addition, the inclusion rate for corporations and trusts will automatically rise to two-thirds, effective June 25. The plan is aimed at taxing wealthy Canadians, but middle-class Canadians, such as farmers, business owners or cottagers selling their assets could also be affected. We are relieved the government didn’t increase the capital gains inclusion rate in its entirety, however, it creates a two-tiered system that, once again, adds complexity into our income tax system. The capital gains tax measure will help to offset the cost of a lofty plan to “solve” Canada’s housing crisis and build 3.87 million new homes by 2031. We understand the federal government’s imperative to focus on Canada’s housing and affordability crisis. However, we remain concerned by its ongoing approach to spending – and paying for it with new tax measures. To hear more about the federal budget from CPA Canada experts, join our Chief Economist David-Alexandre Brassard and Vice-President of Tax John Oakey in our Federal Budget Debrief on LinkedIn Live tomorrow at 12:30 p.m. EDT.

Don't forget to join us live tomorrow at 12:30pm ET for our Federal Budget Debrief with John Oakey, VP of Tax, and David-Alexandre Brassard, Chief Economist!

Join us on April 25th 12pm-1pm for a webinar in partnership with the Institute for Sustainable Finance . Rosemary McGuire, vice-president, Research, Guidance and Support at CPA Canada, will be moderating an expert panel who will be discussing how to identify a path to widespread adoption of Taskforce on Nature-related Financial Disclosures (TNFD) recommendations in Canada. Register now: https://lnkd.in/gfcJcYtW ****** Soyez des nôtres : webinaire en partenariat avec l’Institute for Sustainable Finance , le 25 avril de 12 h à 13 h. Rosemary McGuire, vice-présidente, Recherche, orientation et soutien, à CPA Canada, animera un panel d’experts qui se penchera sur la voie à suivre pour parvenir à l’adoption généralisée, au Canada, des recommandations du Groupe de travail sur l’information financière relative à la nature (TNFD). Inscrivez-vous (en anglais) : https://lnkd.in/gfcJcYtW