The Bank of Canada has decided to keep its benchmark lending rate steady at one percent, pausing after two small hikes earlier this year. To read an update on the budget click here.
The bank of Canada indicated it’s in no rush to cool an economy that is very close to running up against capacity constraints, citing a long list of worries ranging from gains in the Canadian dollar to risks associated with growing protectionism in the US. To read the entire article click here.
Finance Minister Bill Morneau is adjusting his tax proposals on passive income so only three percent of the “most wealthy” privately owned corporations will have to pay higher taxes. To read an update on the budget click here.
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.