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Welch LLP Managing Partner, Micheal Burch on CFRA Ottawa

Oct 22, 2015

1 min

Welch LLP Managing Partner Micheal Burch on CFRA Ottawa speaking on the tax changes and implications with the new Liberal government.


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Are big changes coming to financial accountability in Ontario as Laurentian loses its elite status?

As the higher education community anxiously awaits more news on just exactly how Laurentian University in Sudbury has essentially gone bankrupt, those who oversee universities and colleges in Ontario are also watching with interest. The chain of events that led to Laurentian having to file for creditor protection reveal a failure in governance. And it points to a wider set of reforms that are being contemplated within the public sector. A special investigator’s report on the Laurentian University insolvency is coming out soon, according to the Minister of Training, Colleges and Universities, Ross Romano. The province has warned it may introduce legislation granting it greater oversight of every university’s finances. Recently, Umar Saeed, a public sector accounting expert and a partner at Welch LLP, sat down with Newspoint360 to discuss in an in-depth interview how Ontario’s ability to control and govern the university sector is unlike other provinces, such as British Columbia. If new legislation is introduced that enhances the government’s ability to appoint Board members or control the financial and operating policies of Ontario universities, it will have broad implications for the entire university sector in Ontario: • New legislation may lead to consolidating all the universities (debts and deficits) into the Ontario government’s public accounts • Legislation would acknowledge an implicit promise by the Ontario government to backstop public sector debt (including the university sector) • Public universities may lose their perceived independence if they are “controlled” for accounting purposes The story of Laurentian University is fundamentally about poor governance. However, missing from this story is the backdrop and conditions that led to poor governance. There’s a lot at stake for Laurentian, it’s faculty and staff and the provincial university sector as a whole, and if you are a journalist looking to cover this topic, then let us help. Umar Saeed is a partner at Welch LLP in Ottawa and an expert in Public-Sector Accounting Standards. Umar is available to speak with media about this subject – simply click on his icon now to arrange an email today.

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Time to talk tough about taxes - Can Canadians expect to see taxes take-off to remedy the costs of COVID relief?

A federal budget is coming soon – and as Canada is still stuck in the grips of COVID-19 and the thin ice its economy is still walking on, it is expected sooner or later, the tab will have to be paid and that bill will be satisfied with taxes. Recently, Don Scott, Director of Tax Services at Welch wrote an insightful piece where he lends his many years of wisdom, experience and perspective to share what he thinks will be how Canada’s federal government digs itself out of what has been more than a year of bills and bailouts. In his piece, he looks at whether or not the government will raise such revenue streams as: corporate and business tax rates personal income taxes capital gains principle residence redemptions and even the GST It’s required reading for anyone interested in the finances of the federal government – and if you are a journalist looking to cover this topic, then let us help. Don Scott is the Director of Tax Services at Welch and is a nationally recognized expert for his extensive knowledge in the area of Personal and Corporate Tax Planning. Don is available to speak with media regarding the upcoming budget, to arrange an interview today – simply click on his icon now.

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Changes are Coming – Is Your Private Business Prepared?

Last July, the federal government revealed its plans to overhaul the system of taxation for private businesses, their shareholders and family members. The original proposals were very broad based and essentially targeted every Canadian controlled private corporation. The proposal documents addressed four main areas: • Income sprinkling • Constraining access to the lifetime capital gains exemption (LCGE) • Converting capital gains into dividends • Corporate reinvestment Since then there has been a lot of publicity, debate, political rhetoric and push-back from tax professionals, business owners, farmers, doctors, Chambers of Commerce and other organizations representing small businesses. But what will these changes mean for private business; why were these proposed changes put forward and, if the tax system needed to be overhauled, was this way the proper approach? There are a lot of questions out there and none are easily answered. That’s where the experts from Welch LLP can help. Don Scott, FCPA, FCA is a Partner and the Director of Tax Services for Welch LLP. He is recognized as an expert for his extensive knowledge in the area of Personal and Corporate Tax Planning and is a regular with local and national media. Don is available to speak regarding these new laws and what they may mean – simply click on his icon to arrange an interview. Source:

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