Ottawa – Recently, the Government of Canada launched a five-year US$3.5 billion global bond. The transaction saw robust demand, with an order book exceeding US$13.9 billion, underscoring investor confidence in Canada’s resilient economy, sound fiscal position, and AAA credit ratings. Proceeds from this global bond will supplement and diversify Canada’s liquid foreign reserves. These liquid foreign reserves are a source …
Ottawa – Chris Forbes, Deputy Minister of the Department of Finance Canada, hosted a briefing with Canadian industry and labour stakeholders and provincial and territorial representatives on Canada-U.S. economic issues. Canada’s Deputy Ambassador to the United States of America also joined the call. During this session, officials provided an update on government actions in response to potential tariffs and other …
Ottawa – The Department of Finance Canada announced the automobile income tax deduction limits and expense benefit rates that will apply in 2025. The following changes to limits and rates will be taking effect as of January 1, 2025: The ceiling for capital cost allowances (CCA) for Class 10.1 passenger vehicles will be increased from $37,000 to $38,000, before tax, …
OTTAWA – The Taxpayers’ Ombudsperson, François Boileau, is pleased that the Canada Revenue Agency (CRA) has proactively waived the 2024 filing requirement for bare trusts, unless it makes a direct request. In July 2024, the Taxpayers’ Ombudsperson announced that our Office was opening a systemic examination into whether the CRA had respected taxpayers’ rights in its administration of bare trust filing requirements …
Ottawa – The Department of Finance Canada announced the automobile income tax deduction limits and expense benefit rates for 2024. The following changes to limits and rates will take effect as of January 1, 2024: The ceiling for capital cost allowances (CCA) for Class 10.1 passenger vehicles will increase to $37,000 from $36,000, before tax, in respect of new and …
