CPA Canada’s 2013 federal pre-budget submission

Read about our recommendations to the federal government for Budget 2014.

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We are recommending that the federal government act in the following three areas for Budget 2014:

  • Tax simplification: Undertake a comprehensive review of Canada’s tax system to reduce its complexities and inefficiencies.
  • Standard business reporting: Explore opportunities to adopt Standardized Business Reporting that involves coding data in a standard format, normally XBRL (eXtensible Business Reporting Language), to reduce red tape and taxpayer compliance costs and enhance data collection.
  • Patent box: Implement a “patent box” to provide incentive for Canadian companies to develop and commercialize their innovations in Canada.

The 2013 pre-budget submission, developed collaboratively by the Chartered Professional Accountants of Canada (CPA Canada) and the Certified General Accountants of Canada (CGA‑Canada), was submitted online to the House of Commons Standing Committee on Finance on August 2, 2013.