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Kuperman CPA is a Licensed Public Accounting firm. We offer personal and corporate tax preparation, mortgage origination and compliance consulting services in Canada. This section is dedicated to the  updates from the selected Revenue and Compliance agencies.

  

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COVID-19 measures in Canada and abroad

The Government of Canada has taken significant actions to support Canadians and businesses as a result of the global COVID-19 outbreak. 

LATEST FROM Canada revenue agency - CRA

Guide for cryptocurrency users and tax professionals

Cryptocurrency is a relatively new innovation that requires guidelines on taxation so that Canadians are aware of how to meet their tax obligations. The Senate reviewed the issue of taxation on cryptocurrency and recommended action to help Canadians understand how to comply with their taxes, which the Canada Revenue Agency (CRA) is doing by presenting this guide.


  • Tax treatment of cryptocurrency for income tax purposes
  • Reporting business income or capital gains from the disposition of cryptocurrency
  • Reporting as either income or capital gain
  • Trading cryptocurrency for another type of cryptocurrency
  • Earning cryptocurrencies through mining
  • Valuing cryptocurrencies either as capital property or inventory
  • Keeping books and records
  • How does the GST/HST apply to cryptocurrency?

more about cryptocurrencies

LATEST from Chartered Professional Accountants - CPA Canada

Anti-money laundering policy

Sanctions on Russia: Pay Attention Now, Avoid Emerging Risk Later

Sanctions on Russia: Pay Attention Now, Avoid Emerging Risk Later

Money laundering is a global issue which is illegal, unethical and harmful. In Canada, it poses threats to our national reputation, economy, and society. CPA Canada recognises these threats and contributes to federal policy development. On behalf of the profession and in the public interest, we engage with the federal government in efforts to strengthen Canada’s anti-money laundering regime and present the Strategic Framework for AML.


Elements of such a strategic framework, in our view, include:

  • Corporate transparency - increased corporate ownership transparency via improved access to beneficial ownership information, while maintaining the ease of doing business in Canada
  • Whistleblowing framework - a national framework for the reporting by and protection of whistleblowers, instead of the current patchwork quilt of provisions at the federal and provincial government levels
  • Organisational compliance programs - development of new, national standards outlining expectations for organisational integrity and compliance programs
  • Enforcement - development of enhanced, transparent, and streamlined processes for law enforcement, prosecutors, and other parties to address allegations of misconduct

more about anti-money laundering

Sanctions on Russia: Pay Attention Now, Avoid Emerging Risk Later

Sanctions on Russia: Pay Attention Now, Avoid Emerging Risk Later

Sanctions on Russia: Pay Attention Now, Avoid Emerging Risk Later

The regulations are changing at warp speed, and the stakes for complying with applicable regulations continues to increase. Risks for doing business with the wrong third party are financial, commercial and reputational in nature and pose ongoing compliance concerns.


  • Sanctions - if ownership is 50% or higher, either solely or in aggregate by one or more sanctioned subjects, that entity is sanctioned. Even below that 50% ownership threshold, a red flag should be raised and risk assessment performed.
  • Due Diligence, Organizations and Staffing -  compliance responsibility does not end after an initial business partner screening. Responsibilities for full compliance, organizational reputation and professional peace of mind may be at stake.
  • Export Controls - managing the operational compliance of export controls in such an unstable environment is not for the inexperienced trade compliance or supply chain manager. 
  • Sanctions Compliance - the logistics of delivering products to and from Russia are now more complicated as shipping ports around the Black Sea have closed, airfreight services by most carriers has been suspended and Russian airspace is closed. For companies still conducting business with Russia, getting paid is becoming all but impossible.

more about sanctions

Support for Industries during COVID-19

Home office expenses for employees

  • Temporary flat rate method
  • Detailed method
  • Forms T2200 and T2200S

Office supplies and phone expenses

  • Forms T777 and T777S


more about deductible employment expenses

Employer provided benefits

The CRA has published more details on employer-provided benefits and allowances, including commuting costs, employer-provided parking, computer and home office equipment, meal costs, and cell phone and internet service plans. The CRA has indicated that these positions are effective from March 15, 2020 to December 31, 2020.


more about Employer provided benefits
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