Tag: Economy

real estate

Trudeau taxing banks to help real estate market

Blog
With the Canada election looming, Liberal leader Justin Trudeau has made a new promise to fulfil another. He had previously promised to help young Canadians enter the housing market. Trudeau’s housing market plan involves billions in funding to try stop ‘home flipping’ and to regulate overseas investors buying properties. Additionally,…

Inflation is a looming threat for Canada’s economy

Blog
Inflation is a big topic of conversation for the Bank of Canada. The Canadian economy struggles following the aftereffects of the Covid-19 pandemic. Statistics Canada has confirmed the Canadian inflation rate had reached 3.1% in June. Shelter and transportation prices were found to have risen while those for food, women’s…

Pressure Mounts on the Bank of Canada After Unemployment Falls Sharply

Blog
The pandemic may not be over yet but nations around the world are beginning to show signs of recovery. Businesses are gradually beginning to open up again, hopefully permanently, while the overall mood and confidence is also lifting. Canada is no exception and the country saw a significant rise in…

Tax Cuts Proposed to Ease Pressure on Businesses

Blog
In December, more businesses were forced to close shop temporarily due to pandemic restrictions. This decision likely contributed to the loss of 63,000 jobs nationwide over the course of the month. Several regions, such as Quebec and Ontario, were forced to comply with strict business closure rules, which significantly increased…

Acceleration Of Canada’s Annual Inflation Rate Threatens To Peak 3% In Spring

Blog
Canada’s headline inflation reached 1% in January. This exceeded economists’ prediction of 0.9% and a year-over-year increase of 0.7% in December. Figures above 1% have not been recorded since a year ago when inflation rose 2.2% compared to February 2019. Canada’s provinces of Newfoundland, Labrador, Nova Scotia, Quebec, Ontario, and…

Online Services Taxes Being Underestimated According To PBO

Blog
Parliamentary budget officer (PBO), Yves Giroux’s office, has released a report that indicates that the government could be underestimating the amount of revenue that may be collected from online service providers. Nicknamed by some the “Netflix Tax”, it is targeted at foreign-based providers that sell goods or services in Canada.…

Wealth Tax Finds Support Among Many Canadians

Blog
The NDP and the Green Party revived their proposition for a wealth tax after a Parliamentary Budget Officer report back in June stated 1% of the country’s highest earners possessed over 25% of the country’s total wealth. Although the Bloc Quebecois, Liberals, and Conservatives objected to the NDP motion for…