4 d. ago Billions in carbon rebates for small businesses won’t be taxed, Ottawa confirms

Legislation still needs to be passed and businesses will likely need to file amended returns to get the cash, Deloitte says

Economics

4 d. ago Ottawa must pass a law revoking digital service tax before it can issue refunds: CRA

OTTAWA — Companies that paid the now-defunct digital services tax will have to wait for Ottawa to pass new legislation before they can get their refund, the Canada Revenue Agency has confirmed. Prime Minister Mark Carney announced late Sunday that Canada was dropping the tax on global tech giants in a bid to restart trade […]

Economics

4 d. ago Ottawa must pass law revoking digital service tax before refunds issued: CRA

OTTAWA — The Canada Revenue Agency says taxpayers who already paid the now-defunct digital services tax will have to wait for Ottawa to pass new legislation before they can get their refund. Prime Minister Mark Carney announced late Sunday that, in a bid to restart trade negotiations with the United States, Canada was dropping the […]

Economics

6 d. ago Joe Oliver: Do what’s right for Canada, even if Trump demands it

The digital services tax was a bad idea. Ottawa was right to rescind it and we shouldn't go to the wall on supply management, either

Other

6 d. ago JAY GOLDBERG: Consumers win with the demise of the Digital Services Tax

Ottawa’s plan for a Digital Services Tax (DST) is gone. And consumers are the ones who should be celebrating this victory. The Carney government didn’t give up on the Liberals’ dream of imposing a massive new tax on Canadians easily. It took the risk of an escalating trade war with the United States for the […]

Economics

9 d. ago Almost 22 million Canadians getting income tax cut next week

Canada is set to move forward with its proposed middle-class income tax cut on Tuesday.The federal government will deliver tax relief to Canadians by reducing the lowest marginal personal income tax rate from 15 per cent to 14 per cent, effective July 1.According to Finance Canada, nearly 22 million Canadians are expected to benefit from the income tax cut.The measure would reduce the tax rate that is applied to the first $57,375 of an individual's taxable income in 2025, regardless of their income level.A majority of the tax relief will go to Canadians in the two lowest tax brackets (those with taxable income under $114,750 in 2025), including nearly half to those in the first bracket ($57,375 and below in 2025).Ottawa says the maximum tax savings will be $420 per person and $840 per couple in 2026. All in all, this is expected to deliver over $27 billion in tax savings to Canadians over five years, starting in the 2025/2026 tax year.Since the tax cut will take effect halfway t...

Economics

2 w. ago Average family to save $280 per year from Liberal tax cut: PBO

OTTAWA — The average Canadian family will save $280 on their taxes next year from the Liberal government’s planned income tax cut, the parliamentary budget officer said in an analysis released on Wednesday. But some seniors and single Canadians are expected to save less, prompting criticism from Conservatives who argue the tax cut doesn’t go […]

Economics

2 w. ago Calls mount for pause on Canada’s digital services tax targeting tech giants

OTTAWA — Ottawa is under pressure to pause digital services tax legislation that directs large tech companies to make a big retroactive payment by June 30. Canadian and U.S. business groups, organizations representing U.S. tech giants and members of U.S. Congress have all signed letters calling for the tax to be eliminated or paused. The […]

Economics