Professional Matters NEWS AND VIEWS FOR MEMBERS FINANCE CANADA CONSULTATION


Finance Minister Bill Morneau and Joy Thomas, president and CEO, CPA Canada, discuss the tax consultation with members at The ONE in September


DATA DIVING 29%


Income inequality an urban issue


17% Calgary


4x Toronto


9% 2%


3x Vancouver


2.5x


CHANGE IN TOP 1% INCOME SHARE OF AFTER-TAX INCOME


Calgary


Proposed tax changes for private corporations


IN MID-JULY, Finance Canada released proposed changes to tax planning using private corporations. The changes could have significant impact on private corporations of all sizes, their owners and families, as well as Canada’s economy. CPA Canada raises important public interest and technical concerns in two submissions to the government. Learn more at cpacanada.ca/privatecorps.


“Acting in the public interest is the


bedrock of the Canadian accounting profession. Ethical behaviour is the foundation for everything CPAs do”


—JOY THOMAS, MBA, FCPA, FCMA, C.DIR., CPA CANADA PRESIDENT AND CEO


GIVING BACK


Help educate Canadians


NOVEMBER IS FINANCIAL Literacy Month and CPA Canada’s national financial literacy program is looking


10 | CPA MAGAZINE | NOVEMBER 2017


for CPA members in good standing who would like to volunteer to lead sessions for adults, students, seniors, business owners and more. Visit cpacanada.ca/financialliteracy.


7.3% Toronto 1% each 3.9% Montreal Vancouver National


2.5% 2.7% 2.9%


There is hope


• Intergenerational income mobility is high in Canada, according to a recent Organization for Economic Co-operation and Development report.


• Canada earned an “A” and ranked fourth out of 13 peer countries, coming just after Denmark, Norway and Finland.


• While income inequality is significantly higher than it was in the 1970s and 1980s, its growth has been virtually nil in the 2000s.


Read the full report at cpacanada.ca/incomeinequality. 42%


GROWTH IN INCOME INEQUALITY RELATIVE TO NATIONAL AVERAGE SINCE 1982


Sebastien Auger


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