Annual Statements

The Non-profit Corporations Act, 1995 has been in place for many years. In 2022, the legislation was updated to modernize the Act and reflect the current operating environment. The Non-profit Corporations Act, 2022 was enacted in May 2022 with a wide variety of changes. We recommend that organizations  review the new Act to determine whether...

Learn about ROMRS, changes to accounting standards announced in December 2018 by the Accounting Standards Board of Canada (AcSB). We take a look at how they can impact your business and its balance sheet for 2021 and beyond. What are ROMRS? Retractable Or Mandatorily Redeemable Shares (ROMRS) are commonly issued in a tax planning arrangement....

TAX ALERT | PROVIDED BY RSM CANADA On Nov. 30, 2020, Canada’s Minister of Finance, Chrystia Freeland, released Canada’s Fall Economic Statement, which represents the federal government’s first fiscal update since before the pandemic. There are several key messages in the government’s Fall Economic Statement. First, the government provides a summary of the steps it...