Feds say employee discounts won’t be taxed after CRA document suggests they will

Feds say employee discounts won’t be taxed after CRA document suggests they will
OTTAWA — The Trudeau government insists that employee discounts will not be taxed despite an updated Canada Revenue Agency document that suggested they will be. Political rivals and business lobby groups, including the Retail Council of Canada, have voiced strong concerns that new wording in a government document could lead to higher taxes on retail workers, many of whom earn... Read More

The new digital economy will force a tax revolution

The new digital economy will force a tax revolution
The industrial-era tax system is quickly becoming obsolete By Robert McGarvey Columnist Troy Media No one actually wants to pay taxes. And most of us have no say – paying taxes is a legal necessity that happens automatically. But it’s a different matter for multinational corporations. Large corporations have more flexibility on when and how they pay their taxes. And... Read More

That sound you hear is the Canadian economy imploding

That sound you hear is the Canadian economy imploding
Canada has a growing global reputation as a place where nothing happens unless it suits a small and clamorous minority By Bill Whitelaw President and CEO JuneWarren-Nickle’s Energy Group Here’s a lesson on how to tank an initiative. The head teacher: federal Natural Resources Minister Jim Carr. The initiative: Generation Energy, a conference this week in Carr’s hometown of Winnipeg... Read More

Politicians criticize Trudeau’s reaction to critics of Energy East demise

Politicians criticize Trudeau’s reaction to critics of Energy East demise
EDMONTON — Federal Conservative Leader Andrew Scheer says Prime Minister Justin Trudeau should not go after critics of the cancelled Energy East pipeline project, but should look to his own actions. Scheer spoke in Edmonton about Trudeau’s recent social media comments accusing those critics of using the project’s demise to stoke national divisions. Scheer says the issue does not stoke... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
Some of the most active companies traded Tuesday on the Toronto Stock Exchange: Toronto Stock Exchange (15,770.36, up 42.04 points): Aurora Cannabis Inc. (TSX:ACB). Healthcare. Down eight cents, 2.64 per cent, to $2.95 on 5.6 million shares. Manulife Financial Corp. (TSX:MFC). Financial Services. Up 50 cents, or 1.97 per cent, to $25.93 on 4.12 million shares. Bombardier Inc. (TSX:BBD.B). Aerospace,... Read More

Toronto stock index up, loonie higher following Thanksgiving holiday weekend

Toronto stock index up, loonie higher following Thanksgiving holiday weekend
TORONTO — Financial shares helped push Canada’s main stock index higher Tuesday following the three-day Thanksgiving holiday weekend. The Toronto Stock Exchange’s S&P/TSX composite index advanced 42.04 points to 15,770.36. “There’s a better seasonal backing for banks as we go into Q4,” said Sid Mokhtari, executive director of portfolio and technical research at CIBC Capital Markets. “That’s a theme that’s... Read More

Change would see Nova Scotia regulator eyeball gas shipping costs for consumers

Change would see Nova Scotia regulator eyeball gas shipping costs for consumers
HALIFAX — Nova Scotia is preparing for the end of natural gas from the Sable Offshore Energy Project. Energy Minister Geoff MacLellan is proposing changes to the Gas Distribution Act that would allow Nova Scotia’s oil and gas regulator to assess and recover the costs of shipping natural gas into the province by pipeline. MacLellan says the move is necessary... Read More

Ottawa shortlists nine ‘superclusters’ for $950-million federal funding

Ottawa shortlists nine ‘superclusters’ for $950-million federal funding
MONTREAL — Ottawa has announced a short list of nine so-called supercluster proposals that could qualify for a piece of a $950-million federal fund the government hopes will boost the economy and job creation. The finalists come from different regions of the country and Innovation Minister Navdeep Bains said the proposals focus on fast-growing areas like artificial intelligence, advanced manufacturing... Read More

Sears Canada seeks court approval to liquidate all stores, 12,000 to lose jobs

Sears Canada seeks court approval to liquidate all stores, 12,000 to lose jobs
TORONTO — Sears Canada Inc. is seeking court approval to liquidate its roughly 130 remaining stores, leaving approximately 12,000 employees without a job. The embattled retailer, which has been operating under the Companies’ Creditors Arrangement Act since June, said Tuesday that it had failed to find a buyer that would allow it to continue as a going concern. The court... Read More