Prime Minister Trudeau also says the government won’t be changing the lifetime capital gains rule. The Trudeau government took the first of several steps Monday to stanch the bleeding from a self-inflicted political wound, resurrecting a campaign promise to cut taxes for small businesses outraged by it’s controversial tax-reform proposals. To read the entire story… Read more »
The B.C. NDP government has tabled it’s first budget. It will raise taxes on corporations and high-income earners to help pay for new spending on education, affordable housing and the ongoing overdose crisis. To read an update on the budget click here.
The B.C. NDP has added significant new spending in its 2017 Budget update, which is its first financial plan since it took office. For the 2017/2018 fiscal year, the government will spend $51.9 billion, nearly $2 billion more than the B.C. Liberals planned to spend in their February budget, which was never passed. To read… Read more »
The Bank of Canada raised its benchmark interest rate by a quarter of a point to one percent on Wednesday. It’s the second time this year that the central bank has upped the rate, after hiking it for the first time in seven years in July. The central bank’s rate has an impact on lending… Read more »
From mortgages to lines of credit, the rise in the ‘overnight rate’ will hit Canadian consumers. After seven years of leaving its key interest steady or cutting it to near-historic lows, the Bank of Canada has finally increased its overnight rate by 0.25 percentage points to 0.75 per cent. The overnight rate determines the rate at… Read more »