Negotiations are being held between Canada and the United States on an agreement to improve cross-border tax compliance through enhanced information exchange under the Canada-United States Tax Convention, including information exchange in support of the provisions enacted by the United States commonly known as the Foreign Account Tax Compliance Act (FATCA). More information is available … Read more
Finance Minister Jim Flaherty (Whitby-Oshawa, Ont.) announced the appointments of Phyllis Clark and Derek Key to the Board of Directors of the Bank of Canada. The full release is available online. Call 613-996-7861. Finance Minister Jim Flaherty (Whitby-Oshawa, Ont.) announced the appointment of Dr. Ann Penner as a member of the Canadian International Trade Tribunal. … Read more
The Department of Finance announced that Canada’s official international reserves decreased by an amount equivalent to U.S.$88 million during October to U.S.$68,053 million. The full release is available online. Call 613-996-8080. Finance Minister Jim Flaherty (Whitby-Oshawa, Ont.) heads to Mexico City to attend the Group of Twenty (G-20) Finance Ministers and Central Bank Governors Meeting. … Read more
Minister of State (Finance) Ted Menzies (Macleod, Alta.) highlighted the role of private sector pension innovation in supporting a strong retirement income system for Canadians and promoted the importance of financial literacy to members of the Greater Saskatoon Chamber of Commerce. Menzies said that the government is committed to ensuring that Canada’s retirement income system … Read more
Finance Minister Jim Flaherty (Whitby-Oshawa, Ont.) released the Fiscal Monitor for August 2012. There was a budgetary deficit of $3.2 billion in August 2012, compared to a deficit of $3.1 billion in August 2011. Revenues increased by $0.4 billion, or 2.0 per cent, largely reflecting increases in personal income tax revenues and Goods and Services … Read more
Finance Minister Jim Flaherty (Whitby-Oshawa, Ont.) and deputy commissioner of the Financial Consumer Agency of Canada Lucie Tedesco announced new regulations to protect consumers when using prepaid credit cards. The government is extending the existing consumer protection framework to prepaid payment products so that Canadians are better able to choose forms of payment that best … Read more
The Department of Finance Canada released a document entitled Economic and Fiscal Implications of Canada’s Aging Population. The report confirms that the government’s actions to ensure a return to balanced budgets over the medium term and preserve social programs will help ensure the sustainability of Canada’s public finances over the long term. The full release … Read more
Finance Minister Jim Flaherty (Whitby-Oshawa, Ont.) introduced in Parliament Bill C-45, Jobs and Growth Act, 2012. The act implements key initiatives from Economic Action Plan 2012 to help grow Canada’s economy, fuel job creation and secure Canada’s long-term prosperity. Flaherty said that with Canada achieving one of the strongest economic performances in the G-7 and … Read more
Finance Minister Jim Flaherty (Whitby-Oshawa, Ont.) released the Report on the Management of Canada’s Official International Reserves for April 1, 2011 to March 31, 2012. This annual report provides details on official international reserves operations, primarily related to the Exchange Fund Account, which is a portfolio of assets held under the Currency Act to provide … Read more
Statement prepared for the International Monetary and Financial Committee of the Board of Governors of the International Monetary Fund is available on the Finance Canada website. Statement prepared for the Development Committee of the Boards of Governors of the World Bank and International Monetary Fund is available on the Bank of Canada website. Notice of … Read more
