Tag: Budget

Luxury Tax Expected to Lower Sales and Employment

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In its 2021 budget, under bill C-19, the Liberal government announced plans to impose a luxury tax on the sale of new cars, boats and aircraft, bought for personal use. The tax is to be applied as the lesser of either 10% on the vehicle’s purchase price or 20% on…

PST Changes to Benefit Saskatchewan’s Farmers

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Saskatchewan’s ministry of finance has announced several changes to its provincial sales tax (PST) regulations that are aimed at bringing better clarity, fairness, and consistency to the farming sector and its expenditure on goods. According to the Saskatchewan Cattlemen’s Association chair, Arnold Balicki, the changes, which are expected to cost…

Calls To Suspend Carbon Tax Implementation Rise

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As fuel prices continue to rise, there are growing calls for the Canadian government to put a freeze on the implementation of the carbon tax set to go into effect as of April 1. The planned increase will raise the federal carbon tax by 2.2 cents, pushing the total carbon…

Controversy Simmers Over Canada’s First Soda Tax

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The Newfoundland and Labrador government is all set to implement the country’s first soda tax beginning September 2022. According to Finance Minister, Siobhan Coady, the new tax will see prices on drinks with added sugars increase by 20 cents per litre. This tax is expected to reap the province an…

Saving Money Means Forming the Right Habits and Priorities

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Monthly bills like car payments, rent, groceries, mortgages, and credit cards debt can leave very little left over for savings and investment. Even for Canadians with relatively high incomes, it can seem like there are always new expenses popping up that make planning and saving for the future nearly impossible.…

New Beginnings for Canada’s Growing Economy

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With rising economic uncertainty around Brexit, increased sparring over trade between the US and China, and much concern about the fate of a NAFTA-less world, Canada recently had the opportunity to appreciate a genuinely satisfying moment: the sound of an important piece clicking into place. The recently devised USMCA (United…