Month: September 2017

Tax-News.com: Canada's 'Middle Class' Facing Higher Taxes

Tax-News.com: Canada's 'Middle Class' Facing Higher Taxes by Mike Godfrey, Tax-News.com, Washington 29 September 2017 “Middle-class” Canadian families will pay CAD840 (USD676) more in federal income taxes this year, according to a new study by the Fraser Institute. The Institute has published “Measuring the Impact of Federal Personal Income Tax Changes on Middle Income Canadian

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Month: September 2017

Tax-News.com: NAFTA Negotiators Reaching Provisional Agreements

Tax-News.com: NAFTA Negotiators Reaching Provisional Agreements by Mike Godfrey, Tax-News.com, Washington 29 September 2017 A provisional agreement has been reached on a new SME chapter in the North America Free Trade Agreement (NAFTA), after a third round of talks. According to Bardish Chagger, Canada’s Minister of Small Business, the provisional agreement “recognizes the integral role

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Month: September 2017

Tax-News.com: Canada Rules Out Tax On Streaming Services

Tax-News.com: Canada Rules Out Tax On Streaming Services by Mike Godfrey, Tax-News.com, Washington 29 September 2017 The Canadian Government has said that it will not impose a new tax on online services. The Government has released its new strategy for the cultural and creative industries. Its publication followed a consultation on “Canadian Content in a

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Month: September 2017

Invesco to scoop up ETF business for $1.2B

Invesco to scoop up ETF business for $1.2B Invesco Ltd. has agreed to acquire U.S.-based Guggenheim Investments’ ETF business, which includes $36.7 billion of assets under management as of Aug. 31, 2017. Under the terms of the agreement, Invesco would acquire Guggenheim Investments’ ETF business for $1.2 billion in cash. The transaction would be funded

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Month: September 2017

Two more ETFs from Evolve Funds launch

Two more ETFs from Evolve Funds launch Evolve Funds Group Inc. has launched The Evolve Automobile Innovation Index ETF (TSX:CARS) and the Evolve Active Canadian Preferred Share ETF (TSX:DIVS), in hedged and unhedged units. The company filed a preliminary prospectus with Canadian securities regulators to launch five factor ETFs in July, including these two. CARS seeks to

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Month: September 2017

Morneau grilled by taxpayers at small biz proposals Q&A

Morneau grilled by taxpayers at small biz proposals Q&A Canada’s finance minister got a grilling today from taxpayers who are mad about the Liberal government’s proposed tax changes for small businesses. Bill Morneau was in Oakville, Ont., for a town-hall meeting where a question-and-answer session boiled over more than once into a shouting match. Morneau

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Month: September 2017

CRA to delay registered fee tax position until 2019

CRA to delay registered fee tax position until 2019 Investors can breathe a sigh of relief: CRA will not apply its position on registered account fees paid out of non-reg accounts until at least 2019. At the November 2016 Canadian Tax Foundation Conference, CRA told attendees that paying registered plan fees from non-registered accounts will

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Month: September 2017

Problems with Finance’s passive investing proposals

Problems with Finance’s passive investing proposals Finance says Canadians who hold passive investments in private corporations get an unfair tax advantage. That view is problematic. Read: Tax measures hurt modest business owners: coalition For this second issue highlighted in its July 18 tax proposal, Finance didn’t provide draft tax legislation or set an implementation date.

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Month: September 2017

How will rising rates affect a client’s investment portfolio?

How will rising rates affect a client’s investment portfolio? The cost of variable-rate mortgages and lines of credit linked to the big bank prime rates have already gone up, but experts say the move by the BoC to raise interest rates may also affect a client’s investment portfolio. As interest rates rise, investments like real estate

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Month: September 2017

CSA bans binary options

CSA bans binary options The CSA has announced the implementation of Multilateral Instrument 91-102 Prohibition of Binary Options, which makes it illegal to  advertise, offer, sell or otherwise trade binary options shorter than 30 days with any individual. “Binary options are the leading type of investment fraud facing Canadians today, and the impact of this kind

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