March 25, 2017

BDO Partner Dave Walsh Shares Insights into the 2017 federal Budget: BNN interview and BDO analysis

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Dave Walsh, BDO’s tax service line leader and partner, member, CATA National Innovation Leadership Council joins BNN for a look at whether budget 2017 aligns with the Liberals’ long-term deficit goals. He also discusses what may come in the Liberals’ tax review later this year.

video
BNN Link: For high earners, the biggest budget tax news is what didn’t come
http://www.bnn.ca/personal-finance/video/top-tax-credit-changes-in-the-federal-budget~1084252

BDO: Federal Budget Roundtable Discussion
(Register to Obtain Viewing Link)
http://bit.ly/2nxfdZs

federal-budget
Federal Budget on “Building a Stronger Middle Class”

BDO: Federal Budget Report 2017 (Download)
http://tinyurl.com/k8webj7

On March 22, 2017, the Honourable Bill Morneau tabled his second budget as Minister of Finance. The federal government is projecting a deficit for the 2016–17 fiscal year of $23.0 billion. In last year’s budget, a deficit of $29.4 billion was predicted. For the 2017–18 and 2018-19 fiscal years, deficits of $28.5 billion and $27.4 billion respectively are predicted.

Highlights

  • No timetable set for balancing the federal budget
  • Ability of professionals to defer taxation of work in progress to be repealed
  • Government to release paper on private company tax planning
  • Several income tax deductions and credits eliminated

About David Walsh

Dave is the Tax Service Line Leader for BDO Canada, leading the Firm’s Tax Services team across the country. He is a member of the Canadian Executive Leadership Team, as well as the Global Tax Advisory Committee, comprised of tax leaders from BDO markets globally.

Dave has over 20 years of experience in public practice advising clients across a diverse range of industries in Canada and around the world. He joined BDO in 2016 and splits his time between the Ottawa and Toronto offices. He was previously a partner with Ernst & Young. Dave has significant experience working with multinational corporations, small and medium-sized enterprises and start-ups, and has led teams in complex tax assignments including international expansion, initial public offerings (IPO), equity and debt financing transactions, transfer pricing, expatriate tax, mergers and acquisitions.

Additionally, Dave has extensive expertise in taxation matters impacting the technology industry, having served many high-tech companies in the fields of software, telecommunications, hardware and defence. He serves as a leadership team member for BDO’s Global Technology, Media and Telecommunications industry group and the Canadian Technology and Life Sciences industry team. He has advised clients in numerous other industries including real estate, construction, finance, airline, medical, dental, and legal.

Dave is on the Innovation Leadership Council for the Canadian Advanced Technology Alliance (CATA) and is a recipient of Ottawa’s Forty Under 40 award presented by the Ottawa Chamber of Commerce and Ottawa Business Journal.

He has contributed to numerous national media publications speaking to all matters of taxation such as the annual federal budget, as well as participated as a judge at the prestigious Queen’s University Inter-Collegiate Business Competition.

cataimage-150x150About CATAAlliance

Interact with your Innovation Peer Group Now http://www.linkedin.com/groups/Canadian-Advanced-Technology-Alliance-CATA-37239/about

The Canadian Advanced Technology Alliance (CATAAlliance) is Canada’s One Voice for Innovation Lobby Group, crowdsourcing ideas and guidance from thousands of opt in members in moderated social networks in Canada and key global markets. (No Tech Firm Left Behind)

Contact: CATA CEO, John Reid at jreid@cata.ca