Advocacy now: Billed-basis accounting

  • May 01, 2017

The CBA continues its work on understanding the scope and ramifications of the proposal to eliminate billed-basis accounting for income-tax is purposes contained in Budget 2017.

While we are encouraged by news received this week that the new rules will not affect contingency fee arrangements, our discussions with the government of Canada continue. There are a number of areas that we are asking the government to clarify, including the ability to continue working on cases that increase access to justice for many Canadians, the definition of cost/ valuation of work in progress, and concerns about the transition period. 

We are continuing to work on this diligently.  Stay tuned.

[1] Comments

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  • From: Alan David Direnfeld
  • May 03, 2017
  • 7:44 AM
I know that you have heard from me in the past but I continue to be concerned about this concept as we often carry files for extended periods of time without issuing invoices. the practice has become very price sensitive and so the margins are low and continue to shrink...the thought of having to pay taxes in advance of billing is frightening. it is enough to make early retirement a serious consideration or compel lawyers to increase fees....neither of those options will serve the public interest.