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Welcome to our PwC Private Business Exchange blog page!  PwC's Private Business Exchange program helps drive long-term success for private companies.

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Keeping your head above water: Recent issues in financial reporting for private enterprises


For the first time since its inception, significant changes to accounting standards for private enterprises, ASPE for short, are anticipated.

Are you affected? You will be if you’ve got subsidiaries, joint ventures, employee benefit plans such as pensions, discontinued operations, or redeemable preferred shares issued in connection with tax planning arrangements.

In this issue, we summarize what each of these changes are, or are proposed to be, and provide our initial observations on them. This outline is designed to give you some idea of how they might impact you.  

Download The Financial Reporting Release for Private Enterprises


The Canadian Supplement to the 2014 PwC Global Family Business Survey


Canadian family businesses continue on their path to steady, measured growth and they are 100% confident they will achieve it. But in this technologically driven and disruptive economy, family businesses will need to invest in people, technology and systems Read now: Family Business Surveythat will allow them to be competitive.

It’s time to professionalize all aspects of the business—a fact that global family business leaders appear to accept more readily than Canadian family business leaders.

Download the full report here.


The snowbirds sing... and the IRS listens

Tax Insights

For many Canadians, the opportunity to avoid a harsh winter by fleeing to the southern United States is irresistible. But some may have overlooked important tax implications.

How do the US income tax and estate rules apply to you?

Click here to read more.


PwC’s Innovation Blueprint

To be innovative, you need to engage everyone in the organization, challenge the norm, and take some acceptable risks to grow in the long-term. It is essential to staying relevant and competitive in the new economy.

Watch: PwC's Innovation BlueprintOur Innovation Blueprint helps everyone in your organization with a disciplined, step-by-step approach to achieving your business goals.

Watch our video on how innovation can be planned, fostered and delivered upon.

For more information, visit:


What to know about Real Estate Asset Lifecycle Management

In many industries, real estate assets are the second largest expense item on the balance sheet. Clearly, the management of your assets can make or break your bottom line. When accurate, actionable information is lacking, you may be missing opportunities to unlock the true value of your assets.

We bring together professionals with extensive experience in Asset Lifecycle Management, real estate, finance, accounting and tax to help you drive better value out of your resources. This includes:

  • Identifying opportunities to lower costs across the property, asset and portfolio management lifecycles.
  • Developing performance measurement and analytics related to the entire real estate asset portfolio to increase the quality and speed of reports.
  • Creating more flexible processes to help you better adapt to a changing real estate environment.

Real estate asset lifecycle

By addressing the people, process and technology solutions you need, you’ll be able to make more informed decisions, laying the foundation for future growth. Our team brings extensive Real Estate Asset Lifecycle Management (REALM) expertise to diverse sectors, helping organizations address their unique challenges.

Find out more here.




Tax Insights: New tax rules for testamentary trusts – The bad and the good (and some surprises)

Draft legislative proposals released by the Department of Finance on August 29, 2014, have important implications for estates and testamentary trusts, and for post mortem tax planning.

  • curtail certain tax advantages of testamentary and certain other trusts, and estates, but
  • provide more flexibility in the tax treatment of charitable donations on death

The proposals will result in higher taxes for testamentary trusts and estates, and for certain inter vivos trusts established before June 18, 1971, and will eliminate other preferential tax treatment accorded to them.

The changes, which apply starting for the 2016 taxation year, were announced in the February 11, 2014 federal budget and reflect a proposal first mentioned in the March 21, 2013 federal budget.

To read the detailed article, please click here.


Ramp up your digital IQ

6th Annual Digital IQ Survey—Canadian Insights

Nearly every organization lays claim to being a digital enterprise, but our 6th annual spot check on the digital health of organizations around the globe and in Canada revealed that only a minority are truly there.

Organizations with high levels of what we call ‘Digital IQ’ understand, value and weave technology throughout their enterprise and are more than twice as likely to be top-performing companies in revenue growth, profitability and innovation. Our survey analyzes perspectives of both business and IT executives to identify the actions and investments that are integral in high-performing digital enterprises today.

Read now: Digital IQ survey

Click here to read the Digital IQ Survey findings



Embracing the power of the cloud

A fundamental shift is taking place around how to deliver technology solutions to support business.

“What we are currently experiencing is arguably the most important evolution in the last 20 years,” says Philip Grosch, partner and national technology consulting leader for PwC. Thanks to the arrival on the scene of software as a service, infrastructure as a service and platform as a service, the playing field for private companies, at least as it pertains to capability, is becoming level with the big players. “The emergence of these three pieces allows private companies to access functionality and capabilities that historically have only been available to very large, very well-funded organizations,” says Grosch.

Read how cloud computing can impact your business.


PwC Capital Markets Flash Q2 2014

Big deals take centre stage as M&A rebounds in Q2

Deals up in value, volume after slow start to 2014.

After a quiet first quarter, Canadian M&A activity accelerated in Q2. The second quarter saw 748 deals with a total value of $45.8 billion, a 10% increase in value and volume from Q1, and a 20% jump from Q2 2013.

We invite you to read our Q2 Capital Markets Flash to learn more about recent Canadian deal-making activity and our forward looking perspectives. We cover the big deals, cross-border deals and industry sector deal activity, with special features on energy supply wars, covering Russia’s supply deal with China; medical marijuana, a new and rapidly growing industry; food and beverage, which is bulking up in the protein sector; and the trucking industry, which is experiencing an uptick in M&A activity.

Read our Q2 Capital Markets Flash here.


Tax Insights: New IRS relief for US citizens living outside the US

On June 18, 2014, the US Internal Revenue Service (IRS) announced changes to its offshore voluntary compliance programs that are expected to significantly increase the number of US persons that can participate in these programs.

Download: Tax insights

The announcement responds to criticism from US taxpayers and the IRS’s own Taxpayer Advocacy Service. It is good news for US citizens living in Canada who are struggling with how to meet their US filing obligations. The latest changes make it easier for those US citizens who have filed their Canadian tax returns and paid all of their Canadian taxes while living in Canada.

Click here to read the full Tax Insights which discusses the changes in further detail.