New on ey.com/caNew on ey.com/ca is a monthly e-newsletter that alerts you to significant updates to ey.com/ca .Surviving in turbulent times: Critical tax considerations for the current economic crisis (Tax Alert #30) The economic crisis now sweeping the globe will have profound consequences on businesses everywhere, including Canada. Your tax department will feel the impact as much as any other area of your business. In our latest Tax Alert, we examine the key tax considerations you need to think about and recommendations to help you survive in these troubled times. Read more (pdf, 163K). Responding to change: 2008 Canadian tax executive survey After years of being seen primarily as a cost centre, Canada’s C-suite and boardroom executives increasingly view the tax function as a key strategic business partner and value creator. Our new cross-industry survey highlights several areas senior management could focus on now as Canadian businesses embrace new challenges and create opportunities. Read the media release for a summary or download the full report (pdf, 1.0Mb). Functional currency reporting: Finance revises proposals (Tax Alert #29) On 10 November 2008, the Department of Finance released Legislative Proposals Relating to Functional Currency Tax Reporting to replace the rules enacted at the end of 2007. The new rules address technical, interpretive and practical issues that emerged from current section 261 of the Income Tax Act. Read more (pdf, 198K). SR&ED: A simpler, easier claim process? (Tax Alert #28) The Canada Revenue Agency has released significant changes to the Scientific Research and Experimental Development (SR&ED) claims process. The changes could make it much easier for some companies to claim these valuable tax credits ― and more difficult for others. We provide a summary of the key changes and recommendations to help you make the most of your SR&ED claims in our latest Tax Alert. Read more (pdf, 123K). IFRS update 2008 Companies reporting under IFRS are now facing a wave of new standards and interpretations, most of which will become effective on 1 January 2009. Our 2008 IFRS update (pdf 3.5Mb) gives you an overview of the upcoming changes, highlighting the key aspects that affect many different areas of accounting. Is your internal audit department ready for IFRS? Internal audit teams should play an integral role in an IFRS conversion. Learn how your internal audit group will be affected, and how it can make a positive difference throughout the five phases of your conversion (PDF, 402K). Media Releases: Looking for a tax source on this week’s economic statement? (25 November 2008) Canadian companies to feel China’s new tax legislation: Ernst & Young (25 November 2008) Ernst & Young answers key credit crunch questions (Toronto) (24 November 2008) Ernst & Young answers key credit crunch questions (Edmonton) (24 November 2008) Ernst & Young answers key credit crunch questions (Winnipeg) (24 November 2008) Young entrepreneurs crucial to Canada’s future: Ernst & Young (17 November 2008) Business leaders embrace tax function as strategic business partner: Ernst & Young (17 November 2008) Retail holiday season to ring a little less loudly: Ernst & Young (3 November 2008) Court Appointments : Careers in Canada : Learn about job opportunities from coast to coast. Ernst & Young Canada - General Ernst & Young Canada - Media
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