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Recent Insights

B.C. Pauses PST Expansion to Professional Services

The B.C. government has paused the PST expansion to professional services previously scheduled for October 1, 2026, citing ongoing trade uncertainty. The pause maintains the PST exemption for accounting, bookkeeping and other affected services, helping businesses and local governments manage costs.

B.C. Announces PST on Accounting Services

B.C. announced plans to apply 7% PST to accounting services beginning October 1, 2026. The expansion covers audits, bookkeeping, financial statement preparation and tax returns, with transitional rules determining when the tax applies.

IFRS 18: New Financial Reporting Requirements

IFRS 18 introduces new income statement subtotals, disclosures about management-defined performance measures and enhanced guidance on grouping financial information. The standard applies to annual reporting periods beginning on or after January 1, 2027.