News & Events

Issue 28

Notes on the consolidated financial statements includes:

  • Required disclosures in the notes on the legal status of IFRS
  • Effects of new or amended standards and interpretations (IAS 8.28)
  • New or amended standards and interpretations not applied (IAS 8.30).

IASB includes:

  • IASB publishes amendments to IFRS 9
  • IASB finalizes amendments to IAS 28
  • IASB publishes exposure draft on IAS 8 entitled “Accounting Policies and Accounting Estimates”
  • Published exposure draft on the definition of “material”
  • Practice statement “Making Materiality Judgements” issued
  • Update of the IFRS Taxonomy for the submission of electronic financial statements.

Other standard setters includes:

  • Q&A document on the introduction of IFRS for SMEs.

EU Endorsement includes:

  • EU Endorsement Status Report.

ESMA includes:

  • ESMA 2018 key audit areas
  • ESMA issues further Q & As on the Guidelines on Alternative Performance Measures
  • ESMA: Enforcement decisions published.

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2018 Federal Budget

FEBRUARY 27, 2018 FEDERAL BUDGET TAX HIGHLIGHTS The highlights of the proposed tax changes of the recent Federal budget are outlined below. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. No one should act upon such information without appropriate professional […]

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2018-2019 BC Budget Highlights

Business Matters Corporate Income Taxes – No changes proposed to the BC corporate income tax rates or the $500,000 small business deduction. Small Business Rate = 2%; General Rate = 12% for 2018 & 2019. Employer Health Tax – starting in calendar year 2019, the government will implement an employer health tax of 1.95% on […]

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Issue 116

Introduction to Tax Link

Happy New Year and welcome to the first Tax Link of 2018.

This edition’s articles were sourced from a variety of tax professionals from member firms across the network, who provide knowledge and an update on country tax changes and international development.

There are many great articles included in this edition, Australia explains the ‘Tax implications of Foreign Superannuation, Pensions and other Retirement Funds’, Germany presents its ‘Withholding Taxes on Cross-Border Software and Database Licensing’ and Switzerland updates on ‘Tax Proposal 2017’.

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Employee Discounts

  • Employee Discounts
  • Personal Use Property
  • The Taxation of Partnerships
  • Deduction of Car Expenses
  • Electronic Distribution of T4 Information Slips
  • Around the Courts

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Issue 27

IASB includes:

  • Revision of IFRS Framework completed
  • IFRS 17 “Insurance Contracts” published
  • IASB publishes exposure draft on Annual Improvements to IFRS Standards 2015-2017 Cycle
  • Exposure draft on IFRS 8 “Operating Segments” published
  • Published exposure draft on IFRS 9 “Financial Instruments”
  • IASB publishes exposure draft on IAS 16 “Property, plant and equipment”
  • IFRIC 23 “Uncertainty over Income Tax Treatments” published.

EU Endorsement includes:

  • EU Endorsement Status Report.

ESMA includes:

  • ESMA issues report on the application of IFRS 13 “Fair Value Measurement”
  • ESMA issues Q & A on the Guidelines on Alternative Performance Measures
  • ESMA – Enforcement decisions published.

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