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(Video screengrab from CBSA-asfc.gc.ca)
Markets

Canada sticks to measured tack in U.S. trade row

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Ottawa | Reuters — Canada is sticking to its keep-calm strategy as U.S. President Donald Trump ramps up trade war rhetoric, convinced that no move is the best move for the country with the most to lose, but critics say it risks being a soft target if its strategy fails. While the European Union immediately […] Read more
Tax return storage at the Canada Revenue Agency. (Canada.ca)

New rules on passive investment arrive in budget

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It’s got no new nuggets specifically for crop or livestock producers, but Tuesday’s federal budget includes the end results of last year’s consultations — and backlash — on corporate taxation. Finance Minister Bill Morneau’s 2018 budget proposes a couple of new limits on Canadian-controlled private corporations’ (CCPC) ability to benefit from a lower tax rate […] Read more
(Photo courtesy Canada Beef Inc.)

Greig: Federal tax backtracks aside, much of impact still unknown

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The Canadian Association of Farm Advisors’ annual tax update showcased confusion and frustration at the federal government’s shifting plan to change how small business is taxed. “I was very, very offended by all of this,” said Kurt Oelschlagel, of BDO Canada, who was part of a panel on the government changes at the CAFA event, […] Read more
Tax return storage at the Canada Revenue Agency. (Canada.ca)

Ottawa scraps plans for new limits on capital gains

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The federal finance ministry has backed away from proposed plans for new limits on capital gains exemptions, over concerns of “unintended consequences” for businesses such as farms. Finance Minister Bill Morneau on Thursday announced the federal government “will not be moving forward with measures that would limit access to the LCGE (lifetime capital gains exemption),” […] Read more
Prime Minister Justin Trudeau on Oct. 3 in Ottawa. (PM.gc.ca)

Feds pledge lower small business tax rate

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UPDATED, Oct. 16 — The federal government says it will cut the small business tax rate to nine per cent from 10.5, a move seen as an attempt to counter a growing backlash against its July tax reform announcement. Prime Minister Justin Trudeau and Finance Minister Bill Morneau appeared side-by-side in Toronto’s far suburbs to […] Read more
(Photo courtesy Canada Beef Inc.)
Crops

Deadline extended for comment on cash ticket deferral

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Public consultations on the income tax treatment of deferred grain cash tickets, with an eye toward “potential elimination” of farmers’ option to defer grain income, have been extended by two months. The federal government on Tuesday said the consultation, first announced in Finance Minister Bill Morneau’s March budget and due to end Wednesday, will instead […] Read more

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