Finance Minister Jim Flaherty (Whitby-Oshawa, ON) took part in a pre-budget roundtable discussion in Vancouver with business, academic and sectoral leaders from across the country. The event is part of a series of cross-Canada consultations on how best to ensure Canada’s economy continues to produce jobs and growth in a difficult global economy. Flaherty said … Read more
The Department of Finance released the 2011 Tax Expenditures and Evaluations report. The report provides estimates and projections of the revenue impacts of federal tax measures designed to support the economic and social priorities of the government. The publication reflects tax relief measures from the Next Phase of Canada’s Economic Action Plan and the government’s … Read more
The Department of Finance announced that Canada’s official international reserves increased by an amount equivalent to U.S. $79 million during December 2011, to U.S. $65,819 million. The full release is available online. Call 613-996-8080.
Finance Canada announced important tax changes taking effect in 2012: The final stage of the bold tax reduction plan introduced by the government in 2007 comes into force on January 1, 2012, when the federal general corporate income tax rate is reduced to 15 per cent. Effective January 1, 2012, the Family Caregiver Tax Credit will provide new tax support for … Read more
The agreement between the Government of Canada and the Government of Jersey, under Entrustment from the Government of the United Kingdom of Great Britain and Northern Ireland, for the Exchange of Information Relating to Tax Matters entered into force on December 19, 2011. The agreement was signed on January 12, 2011. The agreement has effect … Read more
Finance Minister Jim Flaherty (Whitby-Oshawa, ON) announced that the government will introduce legislation to prevent banks from offering financial products that function like life annuities. Flaherty said that this legislation will ensure the business of insurance continues to be subject to the appropriate rules and regulations. Life annuities are financial contracts that make a series … Read more
Finance Minister Jim Flaherty (Whitby-Oshawa, ON) congratulated General Motors on its decision to build the next-generation Chevy Impala and the new Cadillac XTS in Oshawa, ON. In August 2011, GM announced plans to invest $117 million to prepare the Oshawa Assembly Plant to build the new Cadillac XTS in 2012, securing approximately 400 jobs. Flaherty said … Read more
Finance Minister Jim Flaherty (Whitby-Oshawa, ON) tabled the "2010–11 Debt Management Report" noting that Canadian debt securities are viewed as safe and stable by investors and credit rating agencies. Flaherty said that at a time when there is considerable uncertainty on global financial markets, the demand for Canadian treasury bills and bonds is excellent. The … Read more
Finance Minister Jim Flaherty (Whitby-Oshawa, ON) met with Mexico’s President Felipe Calderón, Finance Minister José Antonio Meade, and Central Bank Governor Agustín Carstens in Mexico City where they discussed G-20 priorities for 2012. Flaherty said that as Mexico assumes the role of G-20 chair in 2012, it is important for Canada to work closely with Mexico on common … Read more
On behalf of Finance Minister Jim Flaherty (Whitby-Oshawa, ON), Treasury Board President Tony Clement (Parry Sound-Muskoka, ON) announced that the government will contribute up to $11 million in funding through the P3 Canada Fund towards a new biosolids management facility in the City of Greater Sudbury. Clement said the government believes that public-private partnerships can build public infrastructure faster and … Read more
