Canada

2019 Journey to Parliament Hill

VIDEO  | 

Unique opportunity, unforgettable experience

As tax professionals, the Federal Budget is a milestone we plan, prepare and strategize for months in advance. As we get ready for the budget release, we have one mission in mind: understand the impact to our middle market clients and then deliver the power of being understood to help them succeed. RSM is one of the few firms in the industry that enables tax professionals at the manager level – and not only partners – to attend one of the single most important tax events of the year.  As senior tax managers, we were given the opportunity this year to accompany our National Tax Leader Maria Severino and Partner Stephen Rupnarain on the journey to Parliament Hill.

On the day the Federal Budget is released, tax leaders from across the country are in what is commonly known as ‘Lock Up’, where they receive the budget directly from the Finance Minister’s office. The energy you feel in Parliament during this time is incomparable. As senior managers, we are hard-pressed to think of anyone else among our peers who is so close to the action at this stage in their career. 

 

Coordination, collaboration, and teamwork is key 

Being behind the scenes, we experienced first-hand the teamwork, collaboration and professionalism that our RSM leaders exemplify. Once the budget was tabled, our team worked around the clock to decipher, analyze and deliver relevant information to our clients. This required significant collaboration between our team in Ottawa, who examined the budget, and the team in Toronto, who supported us in analyzing and delivering the communications to our clients. Both teams worked together to produce and distribute the key tax changes within 24 hours of the budget release.

What is admirable is how the leadership at RSM, including partners and other senior staff, set an example with their professionalism and dedication to delivering the information to our clients as efficiently and effectively as possible. Their support empowered us to produce a plethora of communication materials to help our clients, such as articles and videos, despite the tight deadlines.

Tailored, targeted communications for the middle market 

At RSM, we do not take a general approach to the budget, or any other tax event for that matter; all communications that we produce are tailored with a middle market industry focus. In Ottawa, we learned the importance of always asking ourselves how we can deliver this information quickly, clearly, and targeted to our clients. Through this experience, we learned how to put ourselves in our clients' shoes and look at the budget through their lens.

Since this year’s budget prioritized compliance, scrutiny and a reinforced audit process, we made sure our clients were aware of any changes that would affect them. Despite the ambiguity around much of the budget, we worked together with our tax leaders to understand how the budget impacts the current organizational structure and how we can help mitigate any negative tax consequences. By being honest about any gaps and ambiguities in the budget, we reaffirmed our commitment to supporting our clients’ success even through uncertainty.

Leveraging insights, providing value 

Our journey did not end in Ottawa. When we returned from our trip, we continued to leverage the insights from Parliament Hill in our discussions with our clients, providing value where and when we could. We each produced in-depth guides targeted to the industries we serve, with a clear middle market focus, helping us enhance our profiles and positioning us as thought leaders – again, an opportunity not frequently offered to tax managers elsewhere. Foremost, through this unique experience, we enhanced our skillsets not only as tax professionals, but also as first-choice advisors committed to helping the middle market.

RSM CONTRIBUTORS


Subscribe to our newsletters

Subscribe


HOW CAN WE HELP YOU?

Contact us by phone +1.855.420.8473 or submit your questions, comments or proposal requests


CONTACT

Maria Severino

National Tax Leader


Recent Tax Alerts

Federal carbon levy ruled constitutional

The Supreme Court of Canada has issued its decision, upholding the Federal Greenhouse Gas Pollution Pricing Act as constitutional.

  • March 30, 2021

2021 Quebec Budget commentary

The Budget reduces the small business tax rate, proposes QST e-commerce changes and enhances Revenu Quebec’s audit resources and reach.

  • March 26, 2021

2021 Ontario Budget commentary

The Budget implements several tax measures to stimulate the economy and to support businesses and individuals hardest hit by COVID-19.

  • March 25, 2021

Tax updates in Canada in response to COVID-19

Read our summary of tax measures by federal and certain provincial government authorities amid the COVID-19 pandemic through February 2021.

  • March 15, 2021

What to know about Alberta’s Critical Worker Benefit

Here is what you need to know if you are a private-sector employer applying for Alberta’s Critical Worker Benefit.

  • March 10, 2021