CGA-Canada

CGA-Canada

June 24, 2014 09:00 ET

CGA-Canada Welcomes Measure on Unlegislated Tax Proposals

OTTAWA, ONTARIO--(Marketwired - June 24, 2014) - CGA-Canada welcomes the Royal Assent given to Bill C-31, the Economic Action Plan 2014 Act, No.1, which contains an important step towards delivering certainty, transparency and accountability to tax policy.

Bill C-31, which implements certain measures announced in the 2014 federal budget, will require the Minister of Finance to annually table in Parliament a list of tax measures that have been publicly announced, but not yet legislated.

"Canadian taxpayers deserve a more effective and efficient process to legislate outstanding tax proposals," says Carole Presseault, vice president, Government & Regulatory Affairs at CGA-Canada. "This measure on unlegislated tax proposals is a step in the right direction in creating a better environment to manage changes to tax laws."

Last November, CGA-Canada commended Member of Parliament Mike Allen, FCGA (Tobique-Mactaquac) for his stewardship of this initiative through private member Bill C-549, An Act to amend the Financial Administration Act. Bill C-549 prompted the Minister of Finance to take action in Budget 2014.

CGA-Canada looks forward to seeing the first list of unlegislated tax measures, to be tabled this fall.

For more information on the measure, visit: www.cga.org/canada/taxsimplification

Related information: CGA-Canada's presentation to the House of Commons Standing Committee on Finance on Part I of Bill C-31 (Economic Action Plan 2014 Act, No.1)

About CGA-Canada

Founded in 1908, the Certified General Accountants Association of Canada serves Certified General Accountants and students in Canada and nearly 100 countries. CGA-Canada establishes the designation's certification requirements and professional standards, offers professional development, conducts research and advocacy, and represents CGAs nationally and internationally. CGA-Canada is currently working with the Chartered Professional Accountants of Canada (CPA Canada) to integrate operations under the CPA banner. Unification will enhance the influence, relevance and contribution of the Canadian accounting profession both at home and internationally.

Visit us online: www.cga.org/canada

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