Latest news with #EYCanada
Cision Canada
6 days ago
- Business
- Cision Canada
EY Canada celebrates innovative leaders strengthening the Canadian business landscape Français
The EY Entrepreneur Of The Year ® program recognizes more than 130 finalists TORONTO, June 4, 2025 /CNW/ - Traditional territory of the Mississaugas of the Credit, the Anishnabeg, the Chippewa, the Haudenosaunee and the Wendat peoples – EY Canada proudly announces the EY Entrepreneur Of The Year ® 2025 regional finalists, recognizing the achievements of more than 130 entrepreneurs. These individuals not only drive innovation — they also play a crucial role in strengthening the Canadian business landscape. The finalists have been selected by an independent judging panel for their entrepreneurial spirit, leadership, community impact and purpose. "This year's finalists are not just business leaders, they are visionaries who are shaping their industries and communities," says Rachel Rodrigues, EY Entrepreneur Of The Year Canada Program Director. "From technology to hospitality, energy, real estate, health, wellness and more, these entrepreneurs are tackling challenges head on and finding innovative solutions that benefit us all." View the full list of regional finalists here: EY Entrepreneur Of The Year 2025 Pacific finalists EY Entrepreneur Of The Year 2025 Prairies finalists EY Entrepreneur Of The Year 2025 Ontario finalists EY Entrepreneur Of The Year 2025 Eastern finalists In a time when Canadian businesses face unprecedented challenges, supporting entrepreneurs is more important than ever before. The program celebrates entrepreneurs who play a vital role in fostering local innovation and job creation, and drive economic growth. "Entrepreneurs have shown that with determination and agility, it's possible to thrive even in tough times," says Rodrigues. "We're proud to champion business leaders who drive our country forward." The program is an integral part of EY's broader mission to support entrepreneurship in Canada. It works in tandem with the EY Entrepreneurial Winning Women™ and Entrepreneurs Access Network programs in empowering the next generation of business leaders while fostering an inclusive and equitable entrepreneurial ecosystem. What's next? The independent panel of judges will select regional award winners and an overall winner from each region, who will be announced in October. Overall regional winners will then compete at the national level in November for the title of Canada's EY Entrepreneur Of The Year 2025. The overall Canadian winner will go on to compete in Monaco for the title of EY World Entrepreneur Of The Year™ in 2026. Last year's winner, Ken Harris of Plusgrade — developers of leading ancillary revenue solutions for the travel industry — is in Monaco this week to represent Canada on the world stage for EY World Entrepreneur Of The Year™ 2025. More information Visit for more program details and follow #EOYCanada on social media for the latest program updates. About EY Entrepreneur Of The Year ® The EY Entrepreneur Of The Year program shines a spotlight on entrepreneurs across Canada who master the artful balance of passion, determination, character and skill to create businesses that address the most complex challenges and build a better working world. By joining the program, you'll have the opportunity to celebrate success with your team, inspire the next generation of entrepreneurs and gain access to an exclusive global network of program participants to help you build connections, fuel success and navigate long-term growth. The 2025 Pacific independent judging panel comprises Ryan Barrington-Foote, President, Jim Pattison Group; Curtis Braber, CEO, BE Power Equipment; Abi Coman-Walker, COO, Acuitas Therapeutics; Peter Cowan, CEO, Innovate BC; Stephen Lee, CEO, Musqueam Capital Corp.; Aisha Yang, Co-Founder and CEO, Herbaland Naturals Inc. The 2025 Prairies independent judging panel comprises Kai Fahrion, Co-Founder and Co-CEO, Zeno Renewables; Debbie Gust, President, WOW! Factor Desserts Ltd.; Denis Jones, President, CEO and Chairperson, Deveraux Group of Companies; Jennifer Massig, CEO, MAGNA Engineering; Aleem Virani, CEO, KV Capital. The 2025 Ontario independent judging panel comprises Len Anderson, CEO, Renaissance Repair and Supply; Gavin Armstrong, Founder and CEO, Lucky Iron Life; Sandra Bosela, Co-Head Private Markets Group, Senior Managing Director and Global Head of Private Equity, OPTrust; Kathy Cheng, President, Redwood Classics Apparel; Nicolas Mulroney, Co-Founder, Chairman, CEO and President, Bond Bakery Brands Limited. The 2025 Eastern independent judging panel comprises Pelra Azondekon, Managing Director, asterX | Québecor; Isabelle Côté, CEO, Coffrages Synergy Formwork; Jean-François Côté, former President and CEO, Sharethrough; Christian Fabi, Partner, Novacap; Serge Harnois, CEO, Harnois Énergies; Orlane Panet, Co-Founder and CEO, MicroHabitat Urban Farming. This year's regional program sponsors are BC Business, Cozen O'Connor, OG100, Vaco and national sponsors are Air Canada, TSX Inc., The Globe and Mail and The Printing House. About EY EY is building a better working world by creating new value for clients, people, society and the planet, while building trust in capital markets. Enabled by data, AI and advanced technology, EY teams help clients shape the future with confidence and develop answers for the most pressing issues of today and tomorrow. EY teams work across a full spectrum of services in assurance, consulting, tax, strategy and transactions. Fueled by sector insights, a globally connected, multi-disciplinary network and diverse ecosystem partners, EY teams can provide services in more than 150 countries and territories. All in to shape the future with confidence. EY refers to the global organization, and may refer to one or more of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit This news release has been issued by Ernst & Young LLP. SOURCE EY (Ernst & Young)
Winnipeg Free Press
25-04-2025
- Business
- Winnipeg Free Press
Miners set to reap rewards of high gold prices but remain cautious on spending
TORONTO – Record gold prices are translating into higher profits for Canadian producers and excitement about the potential for more growth, though miners remain cautious on spending. Agnico Eagle Mines Ltd. is among the first big producers to report results after a quarter that saw gold top US$3,000 an ounce, while this week it pushed to over US$3,500 an ounce for the first time on U.S. instability fears. The higher prices led Agnico Eagle, one of the world's biggest gold producers, to report record adjusted net income of $770 million for the quarter ending March 31, up from $377 million last year. While the price is translating to bumper profits, chief executive Ammar Al-Joundi emphasized on an earnings call Friday that it won't lead to any big ramp-ups in spending as the company keeps a tight focus on returning money to shareholders. The industry is still working to move past the shadow of the commodity boom over a decade ago that saw miners splash out on huge debt-fuelled takeovers that led to major writedowns when prices dropped. Dean Braunsteiner, EY Canada's assurance mining leader, says the high prices should lead to more mine expansions and the reopening of some shuttered projects, but early stage explorations will still struggle for attention. This report by The Canadian Press was first published April 25, 2025. Companies in this story: (TSX:AEM)
Yahoo
16-04-2025
- Business
- Yahoo
Taxes 2025: The tax credits experts say Canadians may miss (or misunderstand)
The constellation of credits and deductions available to Canadians on their tax returns in 2025 is not infinite, but still more than a non-tax professional would be expected to master. The odds of a Canadian getting everything right and maximizing their return without using software are 'moderate to low,' says Ameer Abdulla, a tax partner at EY Canada based in Waterloo, Ont. Fortunately, Abdulla says, the various low-cost or even free software options available 'are quite good,' and would help most people get the credits and deductions to which they are entitled, provided they do a bit of work. Abdulla has his clients go through a checklist for the taxation year, whereas tax programs require you to complete a questionnaire. 'It can sometimes be a bit painful or feel like pulling teeth, but if you go through that list, you can at least identify all the deductions and credits that any potential client is eligible for,' he said. Figuring out your profile — everything from employment status to investments to your broader family situation — 'has to be step one' to determine what credits and deductions are in play, agrees Stefanie Ricchio, a chartered professional accountant and spokesperson for TurboTax. Both tax credits and tax deductions can reduce the amount of tax you owe, but in different ways. In the simplest terms, a tax deduction reduces your taxable income — which could move you to a lower tax bracket — while a tax credit applies to the taxes you owe based upon that taxable income. 'So typically, people who are at lower or moderate income levels have more material benefit in a tax credit — versus higher-income individuals, who receive more benefits out of a tax deduction,' Abdulla said. The Canada Revenue Agency's (CRA) comprehensive list of dozens of benefits and deductions has clickable links that offer details on each item. One that many Canadians may not take full advantage of is the credit for medical expenses, says Ricchio. 'It's one where we generally don't have the best housekeeping, whether it's for prescriptions or for portions of things like glasses' that aren't completely covered by an employee insurance plan, she says. Add to those any out-of-pocket dental expenses, medical equipment and machinery and dozens of other items for you or for eligible dependents listed by the CRA. "Over the course of a 12-month rolling period, you know, we can easily lose sight of those,' Ricchio noted. Tannis Dawson, a vice-president and high-net-worth planner at TD Wealth, says tax credits for disability and caregivers are often overlooked, as well as the fact that those credits can be transferred in some contexts. EY's Abdulla notes that tax credits for home accessibility, moving expenses and childcare expenses are also often 'misunderstood or missed.' Moving expenses, for example, only qualify if you moved for work or to go to school and your new home is at least 40 kilometres closer to your new place of work or education. For childcare, Abdulla recommends taking an inventory of expenses for babysitting, day care and day camps, 'then once you do, you can get up to about $8,000 per child under the age of seven, and then $5,000 per child between seven and 16.' It doesn't cost the charity anything when you use your tax credit. So if you don't do that, you're leaving free money on the Bromley, CEO of Charitable Impact Some people don't claim the tax credits on charitable donations, perhaps due to a misguided philanthropic instinct, says John Bromley, founder and CEO of Charitable Impact, an organization that allows individuals to consolidate their charitable giving via a donor-advised fund. 'It doesn't cost the charity anything when you use your tax credit,' Bromley noted. 'So when you give to a charity, you get a federal tax receipt, and the way to monetize that is by claiming it against taxes that you're going to pay. So if you don't do that, you're leaving free money on the table." Many pandemic-era options are no longer in play, Abdulla says, which still leads to confusion. 'There were certain things that were permitted under a temporary basis during COVID, whereas now we're sort of back to normal, back to the old rules.' Simplified flat-rate calculations have ended, but people who work primarily from home can still claim certain expenses related to, for example, their home office space. The possibilities may widen if you're in the gig economy or run your own business. The CRA naturally expects you to report that income, Ricchio says. "But don't forget that there are a slew of deductions that are available to apply against that business income,' she added. These deductions include professional fees for things like accounting, legal and other business advice, software or software subscriptions, and a portion of home expenses pro-rated for the business. The CRA website offers details on the various deductions, but Ricchio notes that modern-day tax software is designed to handle most situations. John MacFarlane is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jmacf. Download the Yahoo Finance app, available for Apple and Android.
CBC
03-03-2025
- Business
- CBC
Despite record-high gold prices, mining exploration in Canada's North declines
For years, gold has been the focus of Canadian mining exploration spending: the financing that backs efforts to find, assess, and potentially develop mineral deposits into mines. These efforts have established Canada as a top gold producer worldwide. And over the course of 2024, the price of gold shot up by 38 per cent, reaching historic heights. But a B.C. report says skyrocketing value didn't necessarily lead to more investment last year – it found overall exploration spending in the province was down 14 per cent from 2023, and exploration spending targeting gold dropped by 24 per cent. "There are a number of factors that play into the level of exploration spend beyond commodity price," said Iain Thompson, a partner with EY Canada, the consulting firm behind the report. He pointed to a number of projects in B.C. that are further along the development life cycle and global decline in exploration spending. Updated data from Natural Resources Canada released Friday shows a varied picture on the impact of gold's meteoric rise. Preliminary data shows gold prices appear to have had mixed, if any, impacts on territorial industry. While several provinces reported exploration spending increases — including Saskatchewan and Newfoundland and Labrador, which have consistently posted increases — the Yukon, Northwest Territories and Nunavut, along with B.C., all experienced spending declines between 2023 and 2024. Calls to 'streamline' regulation Despite its gold deposits and its status as one of Canada's top producers, exploration spending in the Yukon dropped by an estimated 9 per cent last year, which the Yukon Geological Survey attributed to ripple effects from the Eagle Gold mine failure. "It all comes down to certainty, and there's a lack of certainty in the Yukon," said Jonas Smith with the Yukon Chamber of Mines. "We've seen several legal challenges of projects that have followed the process, but still ended up in court for a variety of reasons." "Investors are looking for a streamlined regulatory process," said Karen Costello with the N.W.T. and Nunavut Chamber of Mines. "Simplicity, predictability. A lot of them are not seeing that in N.W.T." "The same thing is happening in the Yukon and British Columbia. Their policy intentions have fallen flat and really are not attracting investment despite having great geology." While the report acknowledged fluctuations in spending can come down to complex economic factors and "different styles of mineralization," it did attribute some of the decline to regulations. It cited "difficult" policy conditions in B.C. surrounding land access, environmental regulations, and permitting delays. Smith and Costello said the same conditions have created challenges in their regions. Thompson said ease of doing business is a common sense consideration. "I think holistically, what governments know as well as investors and mining companies know, is that in order to develop resources, it needs to be economically attractive and economically viable," said Thompson. "And that requires the right environment." The Yukon, B.C. and the N.W.T. are all in the process of updating their mining legislation. The Yukon's mining laws haven't been changed since the Gold Rush, and have been criticized for failing to consider First Nations sovereignty. In B.C., new rules rolling out March 26 will require prospectors to consult with First Nations in order to stake a mineral claim. The Association for Mineral Exploration, one of the report's co-authors, has voiced strong opposition to the proposed changes. "If they don't listen to industry, if they don't get regulations right, we're not going to see investment," said Costello.
