Trevor Parry's Recent Articles
Going Beyond SR&ED: It’s Time for a Canadian “Patent Box”
Trevor R. Parry M.A. LL.B LL.M (Tax) TEP Too often policy seems to be created in a vacuum. Well intentioned tax policy, in this case the massive expenditure in the form of tax credits for companies to undertake research, known as Scientific Research and Experimental Development (SR&ED) sees businesses compensated for “research” that they undertake. […]
B.C.’s Cycle of Self Flagellation
Perhaps we should count ourselves blessed that Canada has a political culture that is boring. Let’s face it the average Canadian political campaign is as exciting as listen to accountants argue. It seems that only Quebec and British Columbia provide some meat for the political junkie. That is because both provinces have a political culture […]
Posted: April 30th, 2013 under General.
Margaret Thatcher RIP
The passing of Margaret Thatcher is truly the end of an epoch. A age in which character and conviction in leadership mattered. She was part of a great triumvirate which oversaw the end of Soviet communism. Together with the then enact economic strength of the United States, marshalled by Ronald Reagan, the sheer force of […]
Posted: April 9th, 2013 under General.
Budget 2013: Well done Mr. Flaherty!
Jim Flaherty’s eighth federal budget represents a policy document that stresses balance and prudence. In 2008 the Harper government faced twin challenges, a worldwide financial meltdown and an undemocratic usurpation of power by Messrs.’, Ignatieff, Dion and Layton. In response this federal government embarked on an ill-fated foray with Keynesianism. Now almost five years later […]
Posted: March 26th, 2013 under General.
Budget 2013: Time for a Canadian Patent Box
On Thursday of this week Finance Minister Jim Flaherty will introduce his eighth federal Budget. It is expected that a jobs and training strategy will dominate the document. While there is no doubt that leaving training to the provinces has led to a misallocation of resources, this policy should not be the hallmark of this […]
Posted: March 19th, 2013 under General.
Time for an RRSP Policy Revamp?
One of the clear advantages that China has over our consumption based Western society is their ability to think in staggeringly longer terms than us. One of the central pillars of Chinese society is duty to the family, both past and future generations. As a follower of Edmund Burke I like that outlook. Part and […]
Posted: February 19th, 2013 under General.
Fund your RRSP!
Many who purport to provide financial advice have in the last couple of years suggested that Canadians should forgo their annual contribution to Registered Retirement Savings Plans and instead save the money elsewhere, most likely in their corporations. This “advice” coincides with a perennial warning signal put out by organizations such as the Canadian Federation […]
Posted: January 15th, 2013 under General.
CPP Expansion: Inevitable
Finance Minister Jim Flaherty met with provincial premiers on Monday to discuss the Canada Pension Program. As the economy continues to move along at a sluggish pace, and more Canadians approach retirement it is not coincidental that the voices on the left wing of the political spectrum are calling for an expanded CPP. For most […]
Posted: December 18th, 2012 under General.
Some Year End Tax Savings for This Year.
Every year around this time we see some thoughtful year end tax planning tips that will hopefully save us some money in the year ahead. I thought I might bring your attention to something that can save you money for the year we are still currently in. The use of a Health and Welfare Trust […]
Posted: December 11th, 2012 under General.
Estate Planning: Time to reconsider the Partnership Freeze
After so much political tumult of recent weeks I thought it might be therapeutic to return to tax planning. The issue of succession planning is something that should be front and center for most involved in our industry. Barring the Mayans being correct, several trillion dollars of wealth will pass from the baby boomer generation […]
Posted: December 4th, 2012 under General.
Debt Crisis Comes North
All around our North American polity there are cries of crisis as governments face the reality that eventually the piper must be paid. The one receiving the most attention is south of the border where two politically charged juggernauts seem to be on a collision course. Here in passive and boringCanadawe face the same problem […]
Posted: November 20th, 2012 under General.
Debt Problems Abound
All around our North American polity there are cries of crisis as governments face the reality that eventually the piper must be paid. The one receiving the most attention is south of the border where two politically charged juggernauts seem to be on a collision course. Here in passive and boring Canada we face the […]
Posted: November 20th, 2012 under General.
Obama triumphant: Canada be on guard
The recent American election not only showed that the American republic is deeply divided but that if one was hoping for a renewal of that economic engine in one electoral spark, disappointment I fear is the order of the day. The re-election of Barak Obama is for many to be heralded as the confirmation of […]
Posted: November 12th, 2012 under General.
Welcome to NDP Ontario; Opportunity Abound!
No sooner had I lamented the woeful administration of Ontario than the culprit in chief, Dalton McGuinty read his political tea leaves and made a hasty exit. He has made things extremely difficult for his successor to hold on to power, what with the proroguing of the Provincial Assembly only minutes after, in classic McGuinty […]
Posted: October 30th, 2012 under General.
McGuinty & Duncan: Asleep at the fiscal wheel.
Ontario Finance Minister Dwight Duncan gleefully announced on Monday that Ontario’s deficit had shrunk nearly 500 million dollars and that the budget should be balanced by 2017-18. This news must be greeted with a degree of consternation rather than elation. It is my opinion that the McGuinty Liberals have been so negligent in their stewardship […]
Posted: October 16th, 2012 under General.
The PQ provides for a planning bonanza
As much as would enthusiastically cheer a decision of the Federal government to put Madame Marois and her gang of malcontents on trial for sedition one must look for a positive in the results of the recent Quebec election. It is quite likely that the PQ government will introduce a budget this autumn which proposes […]
Posted: October 9th, 2012 under General.
Attempting to analyze policy purely through the lens of economics without consideration of historical antecedents is pure folly. As we all know life is much more than what a spread sheet can show. One wonders however if Chairman Bernanke and the Federal Reserve have reviewed their current monetary policy with an eye toward past history. […]
Posted: September 25th, 2012 under General.
Flexible Benefit Options for Employers and the Self Employed
As employers struggle to keep employees content, maintain strong productivity which directly impacts their profitability the issue of benefits is always a source of concern. It is shocking how many employers have scaled back, or eliminated benefits all together. Many individuals, despite exceptional skill sets seem to jump from contract to contract, trying to save […]
Posted: September 11th, 2012 under General.
The Public Pension Albatross
As we send our children off to a new school year and attack our jobs with renewed vigor let us consider in the spirit of this past Labour Day just what some of the things organized labour has brought our society. I don’t think there are many, including conservatives like myself that do not recognize […]
Posted: September 4th, 2012 under General.
Individual Pension Plans: Death Declared Prematurely
In 2011, the Federal Budget introduced proposed changes to “Designated Pension Plans”, better known as Individual Pension plans (IPPs). These plans had become popular with some business owners and incorporated professionals as it allowed them to enjoy participation in a defined benefit pension plan and at the same time generate handsome deductions for their businesses. […]
Posted: August 28th, 2012 under General.