Professional matters: news and views for members — September 2016

CPA Canada, AmCham Canada and the AICPA are requesting that each government recognize the tax benefits provided by the other for tax-deferred and tax-exempt savings plans. Plus, Canada now has its first online-only approved training office for CPA students.

TAX TALK

Cross-border fairness

CPA Canada, the American Chamber of Commerce in Canada (AmCham Canada) and the American Institute of CPAs have jointly developed letters to the Canadian and US governments. The letters request that each government recognize the tax benefits provided by the other for tax-deferred and tax-exempt savings plans.

“[This] would allow the social objectives associated with the tax incentives to be achieved and ensure smoother cross-border mobility,” says Jim Yager, director of AmCham Canada’s International Tax Committee, in his August article in The Bottom Line. View CPA Canada’s letter at cpacanada.ca/uscanadataxassistedplans.

International taxation was one of many themes explored during the Canadian Income Tax Centennial Symposium, held in May in Toronto. Papers presented at the symposium will be published in September 2017 to commemorate the 100th birthday of Canada’s Income Tax Act.

“CPAs have played an important role in the evolution of the act,” says Larry Chapman, the Canadian Tax Foundation’s executive director. “This makes it especially appropriate that CPA Canada supports both the symposium and publication.”

DATA DIVING

Execs ID the greatest challenges to US-Canadian relations

Execs ID the greatest challenges to US-Canadian relations chart

GOOD READS

Transition to transformation

CPA Canada's annual report for fiscal 2015-16 tells the story of the transition from operational integration and foundation building to an enhanced organization. The report highlights CPA Canada’s response to the challenges of five key issues: globalization, trust and regulation, brand and reputation, demographics and technology. The report explains how CPA Canada will future-proof the profession through agility and innovation.

Download a copy at cpacanada.ca/annualreport.

QUOTE

“CPA Canada’s Advanced Certificate in Accounting and Finance program can provide the job-ready or job-enhanced skills that employers across the country value”

—Tashia Batstone, CPA Canada's senior vice-president, external relations and business development, in "Course Provides More Than Basics," The Bottom Line, May 2016

CPA FIRSTS

Future CPAs can now practise in the cloud

Josh Zweig

LiveCA LLP, Canada’s first online-only accounting firm, is now Canada’s first online-only approved training office for students completing the 30-month practical experience component of their CPA designation.

CPA Ontario gave the stamp of approval in May.

“The approval recognizes a shift in the way people do business today,” says LiveCA LLP partner Josh Zweig, CPA, CA, LPA. “As technology evolves, CPA firms will need to as well. Business models are extending beyond the traditional brick-and-mortar office.”

UNIFICATION

Another warm Caribbean welcome

In May, the Bahamas Institute of Chartered Accountants recognized CPA Canada as an approved professional body. CPA Canada is already recognized in Trinidad and Tobago, Guyana, Barbados, Jamaica and the Eastern Caribbean. 
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