This page contains a Flash digital edition of a book.
Editor’s Note JUNE/JULY 2016 VOLUME 3, No. 5 Coming to Canada M

O D E R N C A N A D A was created by waves of immi- grants and, if some theo-

ries of origin are to be believed, even the Aboriginal Peoples may have come from somewhere else. So why is immigration such a contentious issue in Canada? You would think that if everyone is from, or has ancestors from, outside North America there shouldn’t be such a fuss over immigration. But there is, and to look at some of the knotty questions around it, we have pro- duced this immigration issue. The first question we ask is whether immigration is good for Canada today. In “Boon or Bust?” p. 28, writer Susan Smith says, “Of course, there are costs associated with processing and supporting immigrants, and the net benefit for a country such as Canada is hard to quantify. But one forecasting model does indicate that an increase in immigration would benefit the country as a whole economically. The study ... concluded that taking in an extra one million immigrants over a 10-year period would increase Canada’s real GDP by 2.3%.” Smith adds that this increase would result in a “modest increase in GDP per capita for people already living in the country.” The rest of the story provides support for the view that immigrants are beneficial to Canada. While we allow many immigrants in, Canada is reputed to have the worst record

of the developed countries for matching immigrant qualifications to jobs. Are there good reasons why newcomers cannot use the qualifications from their home coun- tries to climb the success ladder? In “Dr. Cab Driver,” p. 44, writer Peter Carter looks at the issues. Carter informs us that Canada seems to have always needed a specific type of

immigrant. A 19th-century federal immigration minister once described the ideal immigrant as a peasant “in a sheep-skin coat, born on the soil, whose forefathers have been farmers for ten generations, with a stout wife and a half-dozen children.” That kind of focus on specific need is what Carter describes as “tightly disciplined,

blending the skills and temperaments of newcomers with what government plan- ners saw as the needs of the economy.” Carter’s well-written story might make you rethink some of your comfortable views on the issue. What compels someone to leave everything he or she knows to pursue a life

halfway across the world? Writer Rosalind Stefanac asked that question of four immigrant accounting professionals and, as you would expect, getting into the pro- fession was by no means a walk in the park. In “The Big Leap,” p. 38, she recounts their experiences in brief profiles.

Okey Chigbo editor


EDITOR Okey Chigbo ART DIRECTOR Bernadette Gillen ASSOCIATE ART DIRECTOR Kevin Pudsey SENIOR EDITORS Bernadette Kuncevicius, Tamar Satov ASSOCIATE EDITOR Yvette Trancoso ASSOCIATE FRENCH EDITOR Mathieu de Lajartre EDITOR, WEB EDITION Margaret Craig-Bourdin MAGAZINE WEB PRODUCER Alan Vintar EDITORIAL ASSISTANT Harriet Bruser DIRECTOR, LANGUAGE SERVICES Jane Finlayson EDITOR, PROFESSIONAL MATTERS Mara Gulens CONTRIBUTORS Taryn Abate, Yan Barcelo, Craig Bell, Mary Teresa Bitti, Dwayne Bragonier, Steve Brearton, David Descôteaux, Cathy Hutchinson, John Lorinc, David Malamed, David Trahair, Lisa van de Geyn, Karen Wensley, Trevor Wilson QUALITY REVIEW TEAM Antonella Risi, CPA, CA; Juli-Ann Gorgi, CPA, CA

PUBLISHER Nicholas Cheung, CPA, CA, CIPP/C


Alexandra Garant, (416) 204-3397, David McGee, 416-204-3342, QUEBEC ADVERTISING REPRESENTATIVE Serge Gamache, (450) 651-4257 ADVERTISING COORDINATOR Michael Marks (416) 204-3255 CIRCULATION MANAGER Annette DaRocha (416) 204-3367

CPA MAGAZINE EDITORIAL ADVISORY BOARD: Chair: Nancy Cheng, FCPA, FCA; Vinetta Peek, FCPA, FCMA; Michel Magnan, FCPA, FCA; Fred Clifford, CPA, CA, CPA (Ill.); Debra J. Feltham, FCPA, FCGA; John Redding, CPA, CMA

CPA MAGAZINE is published 10 times a year (with combined issues in January/February and June/July) by the Chartered Professional Accountants of Canada. Opinions expressed are not necessarily endorsed by CPA Canada. Copyright 2016. TORONTO: 277 Wellington St. West, Ontario M5V 3H2, Tel. (416) 977-3222, Fax (416) 204-3409 MONTREAL: 680 Sherbrooke St. West, 17th floor, Quebec H3A 2S3, Tel. (514) 285-5002, Fax (514) 285-5695 SUBSCRIPTION INQUIRIES: Tel. (416) 977-0748 or 1-800-268-3793, Fax (416) 204-3416 ON THE INTERNET: EMAIL:

Members of CPA Canada receive a subscription to CPA Magazine valued at $32. This amount is allocated from their dues and non-deductible therefrom. Additional annual subscriptions are available at the following rates: members $32; students $45; non-members $55. Single copy, $5.50. Outside Canada: $89 for a one-year subscription; $8.90 for a single copy. GST of 5% applies to all domestic subscriptions. For subscription inquiries, call (416) 977-0748 or 1-800-268-3793 from 9 a.m. to 5 p.m., Monday through Friday; fax: (416) 204-3416. GST registration number 83173 3647 RT0001. Publications Mail Agreement No. 40062437. PRINTED IN CANADA: Return undeliverable Canadian addresses to: CPA Magazine, Chartered Professional Accountants of Canada, 277 Wellington Street West, Toronto, Ontario. M5V 3H2. CPA Magazine is a member of the Canadian Business Press and Magazines Canada. Submissions: CPA Magazine receives from time to time unsolicited manuscripts, including letters to the Editor. All manuscripts, material and other submissions to CPA Magazine become the property of CPA Magazine and the Chartered Professional Accountants of Canada, the publisher. In making submissions, contributors agree to grant and assign to the publisher all copyrights, including, but not limited to, reprints and electronic rights, and all of the contributor’s rights, title and interest in and to the work. The publisher reserves the right to utilize the work or portions thereof in connection with the magazine and/or in any other manner it deems appropriate. No part of this publication can be reproduced, stored in retrieval systems or transmitted, in any form or by any means, without the prior written consent of CPA Magazine. ISSN 2292-5627 CPA Magazine (print), 2292-5635 CPA Magazine (online)

Photo: Paul Orenstein

Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72