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Inside Internal Controls

News and discussion on implementing risk management

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Federal Budget 2016 at a glance: A business perspective

On March 22, 2016, the new Liberal Government’s first federal budget, Growing the Middle Class (“Budget 2016”), was tabled. Budget 2016 focuses on growing the economy, creating jobs, and strengthening the middle class.

 

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Regulations to enable government to expand electronic commerce

The federal government has proposed regulations to permit increased electronic interaction with certain government departments. In 2012, the government amended the Department of Human Resources and Skills Development Act to enable the department, and programs under the department’s auspices, to expand and coordinate their electronic commerce initiatives.

 

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Arrangement did not constitute an employee profit-sharing plan: CPP payments required

The Federal Court of Appeal just decided that an accountant who received payments from a professional corporation he created did not properly create an arrangement that constituted a true employee profit-sharing plan. It was necessary for the professional corporation to make an election that payments would be based on profits; failing that, it was necessary for the professional corporation to have a set formula stating an amount to be computed by reference to profits so the employer was obligated to pay that amount to the trustees under the arrangement.

 

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Pension reforms are coming to Ontario (and Canada, too)

But who’s going to explain them to you? Or maybe more importantly, who’s going to explain whether the changes mean anything to you?

 

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