The 2017 Federal Budget has passed planned proposed changes on how private corporations are used to gain tax advantages comparing individuals.
We would like to refresh your memory with the Corporate Rates. As we remember previous year brought us a new federal government, which also brought us some tax changes. Some of the taxes are more technical in nature. The federal general tax rates are unchanged and remain at 15% for 2016. However, some provincial general, […]
IFRS 15, Revenue from Contracts with Customers was issued in May 2014 and replaces IAS 11 Construction Contracts, IAS 18 Revenue and various interpretations. IFRS 15 establishes a single model of accounting for revenue arising from contracts with customers. IFRS 15 requires entities to recognize revenue reflecting the transfer of goods or services to customers […]
“Life is a series of natural and spontaneous changes. Don’t resist them – that only creates sorrow. Let reality be reality. Let things flow naturally forward in whatever way they like.” Lao Tzu IFRS 9, Financial Instruments The final version of IFRS 9, Financial Instruments, was issued by the International Accounting Standards Board (IASB) in […]
On December 16, 2014, the Government of Canada passed an Extractive Sector Transparency Measures Act (ESTMA) setting out new rules regarding the disclosure of payments to foreign and domestic governments. The purpose is to enhance transparency among participants in the extractive industry as part of Canada’s international commitments to participate in the fight against corruption. […]