Articles & Newsletters

Recent articles that may be of interest.

As always, if you have any questions in relation to these articles, please contact your KRP Advisor, or call our offices at 780.424.3000.

Post-Pandemic Economic Fortunes Decline - International Accounting Bulletin

Learn what many accounting firms and their clients are saying the post-Covid landscape will look like. Featuring quotes from KRP Partner, Chad Knippel.

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COVID-19 | Comparison of Wage Subsidies for Employers | April 27, 2020

This chart compares the 10% Temporary Wage Subsidy and the Canada Emergency Wage Subsidy programs.

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COVID-19 | Client Update | March 14, 2020

With increasing concern and spread of COVID-19, the health and safety of our clients, colleagues, and families is our utmost concern. Kingston Ross Pasnak wants to assure you that we are closely monitoring the situation, and have taken a number of precautionary measures including a full response plan in accordance with Health Canada’s guidance to help mitigate the risks from COVID-19.

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DFK Canada - The Year 2018 in Review

To review

The US Supreme Court Changes the US State and Local Tax Landscape

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Tax considerations of First Nations People in Canada

The article, written by Rob Picton, CPA, CA, Partner Assurance and Advisory Services with significant insight from Hugh Neilson, FCPA, CFA, TEP , Director, Taxation, was recently published in the Alberta Native News.

To read the full article

Are you experiencing problems using "legacy software"?

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Tax Facts October 18 2017

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Final Countdown - Sign by September 27, 2017 - by Joseph Devaney

Final Countdown- Sign by September 27, 2017, 5pm MDT 

It is the final countdown. The consultation is slated to close October 2. The 20,105+ supporters of this petition say that is not right. We will be delivering this petition to the Honourable Minister of Finance, Bill Morneau later this week. The petition will be downloaded and printed Wednesday, September 27, 2017 after 5pm MDT. However, we will leave it open to continue collecting input....
To view article & link to petition

Is a 117.80% tax increase fair? Hugh Neilson discusses the proposed tax changes on Alberta Prime time.

To view the video

CTV News Power Play video: Changes 'very unfair' for farmers

To view video 

Coalition for Small Business Tax Fairness

The Coalition for Small Business Tax Fairness have written a letter to the Minister of Finance, Bill Morneau.  The Coalition comprises 42 business groups (as of August 31) representing hundreds of thousands of business owners across Canada, and it is gaining momentum.  They are asking the government to "take these proposals off the table and launch meaningful consultations..."  Follow this link to read the letter

Proposed Federal Liberal Government Legislative Changes and Their Far-Reaching Impact

On July 18, 2017, the Federal Liberal government announced proposed legislative changes that will have a far-reaching tax impact on private companies and their shareholders.  The draft legislation would mean significant policy changes to the taxation of:
     1.  Payments to shareholders of private companies,
     2.  Capital gains realized on the sale of certain private company shares,
     3.  Income from passive investments inside a private corporation, and
     4.  The conversion of a private corporation’s income into capital gains.

As a member of DFK Canada, we have compiled four papers that discuss the proposed changes and the potential impact on the taxation of small businesses and their owners.  For a copy of each detailed paper, please click on the links below to access our website.

Payments_To_Shareholders_of_Private_Companies
Capital_gains_realized_on_the_sale_of_certain_private_company_shares
Income_from_passive_investments_inside_a_private_corporation
The_conversion_of_a_private_corporations_income_into_capital_gains

What Are We Doing?
As part of DFK Canada, we are pro-actively seeking changes to these proposals by discussing their impact with our clients and contacting local MP’s to advise them of the far-reaching impact these rule changes will have on small businesses in Canada. Those most impacted by the proposals are being portrayed as the wealthiest of Canadians. We know otherwise. We will continue to keep our clients up to date as we learn more about the proposed changes.

If you have any questions, please do not hesitate to contact our offices.  780.424.3000

Potential Changes to Tax Planning Using Private Corporations

Important discussion paper from the Federal Department of Finance released July 18, 2017 regarding potential changes to Tax Planning Using Private Corporations.  To review the article CLICK HERE 

Another Viewpoint on the July 2017 Proposed Tax Changes.

Proposed tax reforms don't crack down on the wealthy; they threaten small business.  Chad Saikaley, of our associates, Ginsberg Gluzman Fage & Levitz, LLP in Ottawa, has penned an article published in the Ottawa Citizen this morning regarding the proposed changes to federal income tax legislation.  The federal Department of Finance is characterizing the proposed changes as a crackdown on the wealthy.  Read Chad's article for a different perspective.

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July 2017 Proposed Tax Changes May Hit Your Family Farm Hard!

On July 18, 2017, the Department of Finance released shocking changes to the Lifetime Capital Gains Deduction, Income Sprinkling and released other extremely complex rules involving corporations and trusts.  These changes do affect your farm so we encourage you to read this article.

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Is a 93% Tax Rate Fair to Canadian Small Business Owners?

The new tax policies introduced by the Canadian Federal Government on July 18, 2017 appear likely to materially harm the Canadian economy including, by exposing Canadian small business owners to tax rates of 93% or even more. 

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KRP and DFK Canada Give Back to the Community Through Movember!

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Taxation for Students

Published June 15, 2016

By Gunnar Rawe, Kingston Ross Pasnak LLP

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Protect Yourself Against Scams Posing as CRA

Published April 2016

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Starting a Small Business

Published April 2016

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Currency Swaps: CRA's Linkage Principle Overturned

Published May 2, 2015

By Mathew Desilets, Manager - Taxation, Kingston Ross Pasnak LLP

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Marriage Breakdown Affects Taxes and Child Benefits

Published January 5, 2016

By Christie Hoem-McNall - Taxation, Kingston Ross Pasnak LLP

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Married vs. Common Law - What's the Difference Anyway?

Published March 8, 2015

By Brad Taylor, CA, Manager - Taxation, Kingston Ross Pasnak LLP

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Six Stepping Stones

Published Fall, 2014

By Jeannette Blumentrath, Human Resources Manager, Kingston Ross Pasnak LLP

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The Calculation of Child Support: A Basic Guideline

Published November 5, 2014

By Mark G. Jones, BCom, CA, CBV, Principal - Business Valuations & Financial Litigation Support, Kingston Ross Pasnak LLP

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Is Good Luck Taxable?

Published September 5, 2014

By Hugh Neilson, FCA, TEP, Director - Taxation, Kingston Ross Pasnak LLP

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The Indian Act - Exemption from Taxation

Published July 7, 2014

By Hugh Neilson, FCA, TEP, Director - Taxation, Kingston Ross Pasnak LLP

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Tax Issues for New Canadians

Published August 30, 2013

By Hugh Neilson, FCA, TEP, Director - Taxation, Kingston Ross Pasnak LLP

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Your Principal Residence and Taxes

Published July 1, 2013

By Hugh Neilson, FCA, TEP, Director - Taxation, Kingston Ross Pasnak LLP

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The Tax Implications of Marital Breakdown

Published April 26, 2013

By Hugh Neilson, FCA, TEP, Director - Taxation, Kingston Ross Pasnak LLP

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Credit where Credit is Due: Personal Credits in the Canadian Tax System

Published September 1, 2012

By Hugh Neilson, FCA, TEP, Director - Taxation, Kingston Ross Pasnak LLP

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April 2016 Alberta Budget Release

Published April 2016

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2016 Federal Budget Commentary

Published March 2016

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