Update, as of March 6: Implementation of this second tranche of Canadian counter-tariffs has been delayed until April 2 or later. The Canadian government has published a proposed list of U.S. imports worth C$125 billion it intends to hit with 25 per cent tariffs after a 21 day comment period. Retaliatory levies on an initial… Read More
Tag: Finance Canada
Update, as of March 4: U.S. tariffs on Canadian exports were delayed 30 days, but have taken effect as of March 4. The Canadian government is responding immediately with $30 billion in retaliatory tariffs, as proposed in early February. Many agricultural and food products will be affected by the Canadian government’s first wave of retaliatory… Read More
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
The federal government is proposing several tweaks to the capital gains tax changes that were announced in the federal budget in April, that it says are the result of feedback from entrepreneurs, particularly in the tech and farming sectors. The changes, which were detailed in draft legislation released August 12, would make farm property eligible… Read More
Incorporated farms in provinces where the federal carbon tax is collected should receive a little more back on their tax return under the “Canada Carbon Rebate for Small Businesses” proposed in the federal budget last week. The federal government said it would “urgently” return more than $2.5 billion in accrued carbon tax revenue going back… Read More