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A thorough analysis of today’s financial news—delivered weekly to your inbox or via social media. As part of Knowledge Bureau’s interactive network, the Report covers current issues on the tax and financial services landscape and provides a wide range of professional benefits, including access to peer-to-peer blogs, opinion polls, online lessons, and vital industry information from Canada’s only multi-disciplinary financial educator.

This Week’s Edition of KBR:

September Poll

Do you believe this is the right time for a meaningful tax reform in Canada?
Yes: 174 votes
90.63%
No: 18 votes
9.38%
 

Cast Your Vote

2013 CPP contribution rates

For 2013, the maximum pensionable earnings under the Canada Pension Plan (CPP) will be $51,100, up $1,000 from $50,100 in 2012.

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From civil to criminal

A civil third-party penalty has been judged a criminal penalty, shifting the burden of proof to beyond a reasonable doubt and shaking up the Canada Revenue Agency (CRA).

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Canada’s Great Recession

Canada’s Great Recession started in November 2008 and lasted seven months until May 2009, says the C.D. Howe Institute’s newly established Business Cycle Council.

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Distinguished Advisor: Broader interpretation of transfer pricing

A recent Supreme Court of Canada (SCC) decision Canada v. GlaxoSmithKline Inc., 2012 SCC 52, adopts a broad test for transfer pricing, which may provide multinational corporations a new strategy for mitigating taxes, namely, transferring funds to sister companies in lower-tax jurisdictions.

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Legislation in both official languages

Pursuant to Section 133 of the Constitution Act 1867, the Parliament of Canada is required to pass all legislation in French and English, with both versions having equal force.

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