Tag: Bill Morneau

Liberals drop capital gains plans in latest damage control attempt

With a tractor and bales as a backdrop, Finance Minister Bill Morneau made the latest in a series of political damage control announcements regarding the Liberals’ proposed tax changes on Thursday morning. Facing serious conflict-of-interest and ethics questions about his own finances, Morneau left Ottawa to make the announcement with Agriculture Minister Lawrence MacAulay at… Read more »

Liberals announce $50,000 threshold on passive investment income

Finance Minister Bill Morneau made a second announcement regarding changes to the Liberals’ small business tax proposal on Wednesday, focusing on the passive investment income policy. He said the government will allow up to $50,000 in passive income in a year before higher tax rates kick in to provide flexibility for business owners who want… Read more »

A possible win for farmers, another blow for Bill Morneau

This was probably not the scenario Bill Morneau envisioned when he decided to leave his Bay Street executive position and run for the Liberals in the 2015 federal election. The finance minister has quickly fallen from star candidate status to liability, as underlined by Prime Minister Trudeau’s awkward attempts to block reporters from questioning him… Read more »

Liberals drop plan to restrict lifetime capital gains exemptions

Prime Minister Justin Trudeau, Finance Minister Bill Morneau and Small Business and Tourism Minister Bardish Chagger took a quick trip to Stouffville, Ontario on Monday morning to announce the lowering of small business tax rates, and a change to the controversial small business tax proposal they introduced in July. “We made a promise to middle… Read more »

Bill Morneau calls Saskatchewan farmer to talk about tax changes

Finance Minister Bill Morneau asked several Opposition MPs to send him contact information for Canadians concerned about the Liberals’ proposed tax reforms during Question Period on Monday, saying he would call these individuals personally. After hearing Morneau say this, some farmers and small business owners picked up the phone to call the minister, only to… Read more »

$29 Billion Deficit Budget Includes Some Ag Funding

The federal government is finding ways to spend $19 billion more than promised during the election campaign last fall. Some of that money will be spent in agriculture-related areas. Finance Minister Bill Morneau’s first budget, unveiled Tuesday, projects a $29.4 billion deficit in 2016-17 — well beyond the $10 billion deficit outlined by the Liberals leading up to the… Read more »