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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:

July Poll

Do you agree with the extension of the CERB payment? Tell us why or why not.
Yes: 44 votes
45.36%
No: 53 votes
54.64%
 

Cast Your Vote

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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How the CRA is helping small business

The Canada Revenue Agency (CRA) has been charged with reducing red tape and making it easier for small businesses to do business.

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