The federal government has partially changed its mind and is deferring the increase to the capital gains tax inclusion rate that took effect last June. Finance Minister Dominic LeBlanc announced on Friday that the implementation date of the inclusion rate increase from one-half to two-thirds will be delayed from June 25, 2024 to January 1,… Read More
Tag: Chrystia Freeland
Prime Minister Justin Trudeau named eight new ministers to cabinet on Friday, December 20, a cabinet shuffle spurred by the resignation of Finance Minister and Deputy Prime Minister, Chrystia Freeland, on Monday. Trudeau not only had to account for the departure of Freeland, but also the recent departures of Sean Fraser and Randy Boissonnault, and… Read More
Amidst the chaos of Finance Minister Chrystia Freeland’s shocking resignation and the headlines highlighting the deficit ballooning to nearly $62 billion, there were a few notable measures for the agriculture sector in the Fall Economic Statement tabled by House Leader Karina Gould on Monday afternoon. There’s a huge caveat surrounding much of what’s in the… Read More
Today, on the same day that the Liberal government will present the Fall Economic Statement, Chrystia Freeland submitted her resignation as Finance Minister to Prime Minister Justin Trudeau. In a letter dated Dec. 16, Freeland writes: “On Friday, you told me you no longer want me to serve as your Finance Minister and offered me… Read More
“Trump won’t actually put tariffs on us, will he?” That’s a common question across Canadian agriculture as the dust settles on a decisive Republican victory in the U.S. presidential election. During the campaign, Donald Trump repeatedly talked about applying universal tariffs in the 10 to 20 per cent range, with the possibility of somewhat higher… Read More
The federal government’s plan to raise the capital gains inclusion rate in less than two weeks will increase the tax bill on the sale of a typical Canadian grain farm by 30 per cent, based on research conducted by Grain Growers of Canada (GGC). Grain Growers has written a letter to Finance Minister Chrystia Freeland… Read More
The development of Canada’s biofuel sector was highlighted in the Canadian government’s 2024 budget announced on April 16th, but ethanol was notably absent from the list of renewable fuel categories that will receive support. The budget included a commitment of $776 million for a retooled Clean Fuels Fund to drive production of renewable diesel, sustainable… Read More
The federal budget introduced by Finance Minister Chrystia Freeland on Tuesday featured changes to how capital gains are taxed, as well as federal funding to develop biofuel production and artificial intelligence, but did not mention many topics and programs farm groups were hoping to see addressed. It also included many previously-announced measures, such as the… Read More
The agricultural industry is immensely frustrated with the challenges Bill C-234 has faced in the senate, and for good reason. As I have watched the shenanigans in the senate the past month, I have been searching for a word that describes the vibe of the situation as the supposed “independent” senators have allegedly taken marching… Read More
Editor’s note: This story was updated Nov. 28 after confirmation from the Canada Revenue Agency that the proposed changes to the underused housing tax will only take effect after legislation that has yet-to-be introduced has been approved by Parliament. The federal government has proposed several changes to its underused housing tax (UHT) that are expected… Read More