Abstract: . . .  IASB Revenue Recognition Project with representatives from the U.S., British and European equipment leasing associations and from the American Fleet Leasing Association to consider this fundamental project's likely implications for a future lease accounting standard. For more on these and other issues, please consult the CFLA Web site: http://www.cfla-acfl.ca Prepared for CFLA by The Centre for Spatial Economics Asset-based financing and leasing: a Canadian market overview CFLA Page 5  . . .
. . .  Technical Working Group on the IASB Revenue Recognition Project with representatives from the U.S., British and European equipment leasing associations and from the American Fleet Leasing Association to consider this fundamental project's likely implications for a future lease accounting standard. For more on these and other issues, please consult the CFLA Web site: http://www.cfla-acfl.ca Prepared for CFLA by The Centre for Spatial Economics Asset-based financing and leasing: a Canadian market overview CFLA Page 5  . . .
. . .  vehicle lessor vicarious liability project advanced Begun last year, CFLA has aggressively pursued its national project to eliminate the liability of lessors for damages caused by the drivers of leased vehicles. The laws are particularly onerous in Ontario and Alberta. According to member reports, in Ontario alone, they are currently faced with lawsuits claiming in excess of $1 billion. CFLA has met with officials in the Office of the Premier of Ontario and of the Minister of Finance to develop a solution. Capital tax – good news and bad CFLA continues to monitor and lobby to ensure the detrimental effects of this tax are understood by governments. This year, the federal government maintained its commitment to the gradual elimination of the Large Corporation Tax by 2007. Quebec committed to resume its capital tax reduction schedule in its 2005 budget. The new government in Ontario, however, extended the deadline for eliminating provincial capital tax . . .
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