Tag: Tax

BC EV Rebate Program Amended

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British Columbia’s (BC) electric vehicle (EV) rebate program has proven popular over the years. To the extent, it has severally run out of funds. However, this has prompted concern that perhaps the program has not been assisting ordinary citizens, but rather those that could have easily afforded such vehicles even…

Canadian Wineries Get Federal Government Support

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With the recent return of a federal tax on domestic brands, Canadian wine prices are expected to rise by about 4%. This change comes after the government was able to resolve a dispute with Australia at the World Trade Organisation (WTO) that allowed for the repeal of an excise duty…

Concern Grows Over Possible Recession

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As the Bank of Canada raises interest rates to keep pace with spiralling inflation and the stock market performance dims as the economy runs out of room to grow, it appears a perfect storm is brewing for a recession to strike. The concern is that as the central banks raise…

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…

CRA Tax Professionals Call for Resources to Trace Offshore Tax Cheats

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The Professional Institute of Public Service of Canada (PIPSC) is calling on the government to allocate sufficient time and resources to its tax professionals in a bid to enforce tax laws on individuals and corporations that have been using tax-havens. Following the recent revelations in the Pandora Papers exposé by…
cannabis

Excise Taxes Burdening Craft Cannabis Businesses

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Small cannabis growers are raising concern over high excise taxes that are being imposed on their businesses. According to growers like Dan Sutton of Tantalus Labs, craft businesses are paying as much as 30% in excise taxes on their top revenue lines. A figure that for some can even exceed…