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CPA Canada participated in the annual pre-budget consultations led by the House of Commons Standing Committee on Finance. We submitted a brief to the committee with recommendations for the 2016 federal budget.
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CPA Canada recognizes that in recent months, global economic conditions have deteriorated and, as a result, Canada and other countries face significant challenges. While balancing the budget is always preferable to running a deficit, it is understandable for the federal government to consider short-term stimulus solutions to help grow the economy, especially during times of lingering economic uncertainty and fragility. However, the government’s agenda for economic growth must go hand-in-hand with a fiscal plan that is both prudent and responsible.
For our economy and Canadians to truly prosper, there are key measures that can be taken in addition to stimulus solutions to spark business, improve productivity, and create jobs and economic growth.
With this in mind, our pre-budget submission focused on three main themes:
There has not been a thorough review of Canada’s tax system since the Royal Commission on Taxation in the 1960s. Tax reform is needed to:
Canada’s prosperity is closely linked to creating jobs, growing trade opportunities and expanding markets. We are encouraged by the federal government’s trade agenda efforts, but we believe that current labour market challenges — particularly the integration of new Canadians — must be addressed to improve Canada’s international competitiveness and our future.
It’s said that a crisis brings out the best in people and, in most cases, that’s true. But there is a dark side to tough times, as fraudsters prey on people who are uncertain and looking for easy answers.
March 18, 2020
The federal government’s actions and fiscal support to address the widespread and devastating economic fallout of the COVID-19 pandemic are welcomed by Chartered Professional Accountants of Canada (CPA Canada).
April 2, 2020
Listen to this special edition Practitioner’s Pulse webinar where we answer some frequently asked questions around practice management issues and some key financial reporting and auditing implications of COVID-19.