Notes & News
CPABC recommendation:
1. BC government should create a uniform municipal reporting framework the AGLG
The
can work within; establish key performance indicators for municipal governments in
order to assess, compare, and benchmark municipalities of a similar size using
standardized indicators for service delivery; and establish best practices.
Tax policy
Good tax policy at every level of government helps create a strong, competitive economy.
When looking at the BC PST, one of the biggest issues at stake for business is the loss of input
tax credits. The repeal of the HST and the reinstatement of the PST have likely had a negative
impact on BC’s growth rate, which has been lower than forecasted over the last two years, and
have likely contributed to our mediocre GDP growth rate. Many CPA Business Outlook Survey
respondents ranked the reintroduction of input tax credits as one of the most important steps
government can take to improve our province’s competitiveness, and 69% described the current
PST a moderate or major challenge to business success in the province.
CPABC recommendation:
1. BC government should begin planning for the return of an HST-like system that
The
would restore input tax credits; and if one of the myriad of LNG or other resource
projects receives the go-ahead, the reintroduction of input tax credits should be a top
priority.
Increased venture capital investment is
also one of the factors driving the need for
highly skilled labour. In 2013, recognizing the
potential for growth in this sector, the federal
government announced its $400-million
Venture Capital Action Plan. However, BC has
not yet benefited from the federal government’s
funding.
CPABC recommendation:
1.
Given BC’s growing high-tech sector
and burgeoning venture capital market,
the provincial government should urge
the federal government to shift
significant venture capital investment
support to BC under the Venture
Capital Action Plan.
To access the full budget submission, visit
bccpa.ca and choose “Government Relations”
under the News, Events & Publications tab.
Venture capital
According to research conducted for our most recent BC Check-Up report, venture capital
investment in BC more than doubled in 2013, reaching $478 million. This was the largest
increase of any Canadian region in 2013, giving BC a 24% market share. The increase in venture
capital investments in BC implies that technology and knowledge-based industries are continuing
to grow and mature.
Robert Biedermann/iStock/Thinkstock
CGA-Canada Unifies with CPA Canada to
Create a Single National Body
O
n October 1, 2014, CGA-Canada joined CPA Canada, completing
the integration of the country’s national accounting bodies. The
190,000 members of Canada’s accounting profession are now
represented by a single national body: CPA Canada.
“With integration, we are one of the largest national accounting bodies in
the world,” said Kevin Dancey, FCPA, FCA, the president and CEO of CPA
Canada. “A common vision with a strengthened voice gives Canada’s
accounting profession greater influence both at home and abroad.”
Integration of the national bodies is the latest milestone in unifying Canada’s
accounting profession under the CPA designation.
“This is an exciting transition period for Canada’s accounting profession,” said Pat Keller,
CPA, FCGA, the chair of CGA-Canada. “There is still work to be completed at the provincial level,
and it is important that all stakeholders recognize the Canadian CPA as Canada’s pre-eminent
business and accounting designation.”
CPA Canada’s 20-member board of directors reflects a cross-section of perspectives based on
regional representation, the legacy designations, and public input. Following CPA Canada’s 2014
annual general meeting in late September,
Bob Strachan, CPA, FCMA, of Victoria, was
appointed chair of the board. Bob (interviewed
in the November/December 2013 issue of
CPABC in Focus) previously served as the
board’s vice-cha