Finance Minister Jim Flaherty (Whitby-Oshawa, ON) met with senior Chinese officials and business leaders today in Beijing in an effort to strengthen the trading and economic ties between Canada and China, as part of the Government of Canada’s continuing commitment to create jobs and growth. Speaking to the Canada China Business Council, Flaherty said that … Read more
Finance Minister Jim Flaherty (Whitby-Oshawa, ON) invited stakeholders to comment on proposals to improve the caseload management of the Tax Court of Canada. The proposals would, among other things, update the monetary limits for access to the informal appeal procedure, providing taxpayers with greater access to a simplified and cost-effective judicial process and enabling a … Read more
Finance Minister Jim Flaherty (Whitby-Oshawa, ON) announced the signing of a Protocol Amending the Agreement between Canada and Barbados for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income and on Capital. Flaherty said this is another step in Canada’s ongoing efforts to combat tax evasion and … Read more
Finance Canada has released its consultation paper on Proposed Amendments to the Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations on Ascertaining Identity. The public may submit comments no later than December 16, 2011. The full release is available online.
Minister of State (Finance) Ted Menzies (Macleod, AB) delivered the keynote opening speech at the World Pension Summit in Amsterdam. His address focused on why Canada’s finance ministers decided to introduce a framework for Pooled Registered Pension Plans as the most effective and appropriate way to bridge existing gaps in the country’s retirement income system. … Read more
The Department of Finance announced that Canada’s official international reserves increased by an amount equivalent to US $1,710 million during October to US $65,428 million. The figures for the Official International Reserves are available online.
The Department of Finance released for public comment a package of draft legislative proposals relating to a number of technical changes to the Income Tax Act, the Income Tax Amendments Act, 2000, the Income Tax Regulations, and the Excise Tax Act. The proposals include technical changes relating to: trusts, investment corporations, mortgage investment corporations, mutual … Read more
Finance Minister Jim Flaherty (Whitby-Oshawa, ON) welcomed the International Monetary Fund’s annual review of Canada and their support for the Government’s plan to return to balanced budgets in the medium term. The 2011 Article IV Mission to Canada statement endorses the measures taken by the Government to promote the long-term stability of Canada’s housing market, … Read more
Finance Minister Jim Flaherty (Whitby-Oshawa, ON) released the Fiscal Monitor for August 2011. There was a budgetary deficit of $3.6 billion in August 2011, compared to a deficit of $5.8 billion in August 2010. Revenues increased by $0.7 billion, or 4.1 per cent, reflecting increases in most revenue streams. Program expenses were down $1.3 billion, or … Read more
The Agreement between Canada and the Republic of San Marino for the Exchange of Information on Tax Matters entered into force on October 20, 2011. The Agreement was signed on October 27, 2010. The Agreement has effect in accordance with the provisions of Article 13 of the Agreement. The full release is available online. Call … Read more
