In the recent federal budget, the government announced its proposal to eliminate billed-basis accounting for income-tax purposes. Billed-basis accounting means you aren’t taxed on your work-in-progress – you only pay tax on what you bill.
The CBA is working to persuade the government that this move is not in Canadians’ best interests. To do so we need to hear from you: How will this measure affect your clients and your ability to take on certain cases? What will it mean for those with legal issues and little money? Please send your responses to general.practice@cba.org
For more on how this will impact Canadians, read CBA President René Basque's comments in Lawyers Daily.