Alexander Marino is quoted in The Guardian article:“‘I don’t want to be part of a dictatorship’: the Americans queueing up to renounce their citizenship”, April 28, 2026.
Alexander Marino was a guest on the “This is Ottawa” CBC podcast episode titled ‘I feel alienated from my U.S. identity’ on March 23, 2026.
Alexander Marino was interviewed for the CBC news story “Dual citizens weigh Trump, taxes in decision to renounce US citizenship” on March 23, 2026.
Kim GC Moody was a guest on The Current with Matt Galloway on CBC Radio, on September 22, 2025 discussing “Why can’t you get a CRA agent on the line?”
Alexander Marino appeared on CONNECT With Sarah Crosbie on Corus Radio on September 16, 2025, to discuss “Are YOU an Accidental American?”
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Changeover from Canadian Generally Accepted Accounting Principles (GAAP) to International Financial Reporting Standards (IFRS) and/or private enterprise GAAP and its impact on taxable income
As you know, Canadian GAAP is being replaced as the required accounting standard for financial reporting in Canada. Effective January 1, 2011 IFRS will now be the new accounting standard for public enterprises. The Canadian Institute of Chartered Accountants (“CICA”) has created a useful guide for users of financial reports in order to assist in interpreting the consequences as a result of the IFRS convergence.
Government releases revised income tax technical proposals
On July 16, 2010, the Department of Finance released a significant package of income tax technical amendments and explanatory notes. As I am writing this blog, I have a binder of material in front of me that contains all of the material released by the Department of Finance and it is approximately 2 ½ inches thick. Oh joy! Great summer time reading!!
In all seriousness, though, this material is very welcome news given that it contains significant provisions some of which have been outstanding for approximately 8 years. Let’s hope this package gets passed into law soon.
One of the significant amendments included in the income tax technical package are the restrictive covenant proposals. Such provisions are horrifically complex. Our firm wrote a paper on the restrictive covenant draft proposals in 2008. For those interested in an exercise in complexity, feel free to read the paper. Such provisions are wide sweeping and will change how most purchase and sale agreements are handled from a taxation perspective. For further information, take a look at our blog of April 10, 2008.
Snowbirds beware!
For Canadian residents spending time in the United States (“US”), it is important to ensure that the heat you receive next time you venture south is only felt from the sun, and not the Internal Revenue Service (“IRS”).
CRA national project regarding domestic trusts
The past six weeks have been very busy with attending and speaking at various conferences. At three of the conferences (Institute of Chartered Accountants of Alberta Tax Roundtable, Canadian Tax Foundation Prairie Provinces Conference and the STEP National Conference) the CRA was in attendance answering various questions posed by practitioners. The topic of domestic trusts was high on the agenda for questions posed by practitioners.
GAAR: Keeping us off-balance?
In an episode of Corner Gas, the main character, Brent, (who is single, has no children and is 40 years old) finds himself overwhelmed by a hot-wheels-tossing 6 year old boy and besieged under a kitchen table while babysitting for a friend. Brent enlists the help of his mother, Emma, who quickly gains control of the situation and explains her two-pronged philosophy for disciplining kids:
Update on recent Department of Finance activity
Wow, time flies when you’re having fun…!
May and June are conference months with our firm recently speaking at the STEP Pacific Rim Conference and the Canadian Association of Gift Planners Conference in Edmonton. Our firm will also soon be speaking at the Canadian Tax Foundation Prairie Provinces Conference and the STEP National Conference. Certainly no shortage of activity.
Alexander Marino is quoted in The Guardian article:“‘I don’t want to be part of a dictatorship’: the Americans queueing up to renounce their citizenship”, April 28, 2026.
Alexander Marino was a guest on the “This is Ottawa” CBC podcast episode titled ‘I feel alienated from my U.S. identity’ on March 23, 2026.
Alexander Marino was interviewed for the CBC news story “Dual citizens weigh Trump, taxes in decision to renounce US citizenship” on March 23, 2026.
Kim GC Moody was a guest on The Current with Matt Galloway on CBC Radio, on September 22, 2025 discussing “Why can’t you get a CRA agent on the line?”
Alexander Marino appeared on CONNECT With Sarah Crosbie on Corus Radio on September 16, 2025, to discuss “Are YOU an Accidental American?”
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