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NAFTA

NAFTA Discussions Continue with Focus on the Automotive Sector

Ongoing NAFTA discussions resumed today, with a continued focus on the automotive sector. Canada’s Foreign Affairs Minister, Chrystia Freeland, met with U.S. Trade Representative Robert Lighthizer and Mexican Economy Minister Ildefonso Guajardo today,  told the media that she believes strongly that the rules of origin for autos in the highly integrated industry lie at the heart of the negotiations. Rules of Origin for Autos Freeland predicts that the parties getting these rules… Read More

Personal Tax Planning

CRA Declares Nova Scotia Man to Be Deceased. The Problem? He is Still Living

A 69-year-old man from Cape Breton, Nova Scotia is struggling to rectify what he calls a “mind-boggling” mistake by the Canada Revenue Agency: the CRA believes that he is dead. The man is concerned that due to this error, he will be cut off from Old Age Security and Canada Pension Plan income that he very much depends upon. What Happened? The man’s wife passed away in January 2017. When he contacted the CRA,… Read More

Corporate Tax Planning

Head of One of Canada’s Largest Banks Warns of a Significant Investment Exodus to the U.S

Dave McKay, the president and CEO of RBC has told the Canadian Press that the federal government must act to staunch the flow of investment capital from Canada to the U.S. His concerns come as Ottawa has already been facing pressure from business leaders to respond to the recent tax overhaul south of the border. Capital Flow Out of the Country May Be Followed by a Brain Drain One… Read More

Corporate Tax Planning

Ontario’s 2018 Budget: Tax Credits, but no Corporate Tax Cut

Earlier this week, Ontario’s Finance Minister Charles Sousa delivered the provincial Liberal’s final budget prior to June’s pending election. The budget calls for $20.3 billion in spending over the next three years, including more than $900 million for businesses and jobs training under a “Good Jobs and Growth Plan”. The budget projects 2.2% provincial GDP growth in 2018, 1.8% in 2019, and 1.9% in 2020 (growth was an estimated 2.7% in 2017). Read More

NAFTA

Key Auto Industry Concessions Made in Ongoing NAFTA Discussions

CBC News is reporting on a breakthrough in ongoing NAFTA discussions, welcome news to many who believed that the U.S. would withdraw from the trilateral trade agreement. This week, U.S. negotiators abandoned their previous demand that all vehicles made in Canada and Mexico that are bound for the U.S. market must contain at least 50% American-made components. This had been a highly contentious sticking point in prior discussions and… Read More