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Eight Canada Revenue Agency workers fired for privacy breaches

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OTTAWA: The Canada Revenue Agency says eight of its employees were fired in the last fiscal year after violating taxpayers’ privacy. Previously, the agency has not always confirmed if an employee was fired or shuffled out of the CRA for being part of a privacy breach, often citing the employee’s privacy. A spokesperson for the agency says the employees in ... Read More »

Canadians face 10 years in Chinese jail for customs offense

customs

OTTAWA: The Chinese government accuses Canadian vintners John Chang and Allison Lu of intentionally under-valuing their shipment of ice wine to Shanghai customs. It may or may not be true, although the Changs deny it. But if they’re guilty, it is said they face ten years in prison. Chang has already been in jail for more than a year. Be ... Read More »

Tax worker fired after biggest privacy breach at Revenue Canada

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OTTAWA: The Canada Revenue Agency has fired an employee for the biggest single privacy breach ever detected involving confidential taxpayer accounts. The employee improperly accessed the accounts of 38 taxpayers in detail, and briefly accessed another 1,264 accounts using a search function to find surnames and postal codes. The incident happened in an agency office in the Prairie region before ... Read More »

Canadian pollution caps & fuel taxes for provinces in works

taxes

OTTAWA: The government of Canada is now planning the imposition of pollution caps on the provinces that haven’t yet agreed to support a national carbon price, according to recent reports. The two provinces in question, which have yet to agree to a national carbon price, are Saskatchewan and Manitoba. The Premier of Saskatchewan, Brad Wall, has previously stated that he ... Read More »

Canadian exports to US grew last year as prices fell, data shows

importexports

OTTAWA: U.S. importers bought more but paid less for Canadian natural gas last year, according to the 2016 annual trade record from the U.S. Department of Energy. The volume of Canadian pipeline exports south into to the United States increased last year by 11% to 3 Tcf, or 8.2 Bcf/d from 2.7 Tcf or 7.4 Bcf/d in 2015. But the ... Read More »

Canada oil industry get $173 mln loan to clean up abandoned wells

oil industry

OTTAWA: The oil industry in Canada’s resource-rich Alberta will be on the hook for a C$235 million ($172.7 million) government loan to clean up a rising number of oil wells abandoned by owners who have gone bankrupt, the province said on Thursday. The loan, repayable over 10 years, will go to the government-run, industry-funded Orphan Well Association (OWA), which cleans ... Read More »

Canada’s churches ‘face closure’ as tax bills suddenly shoot up

tax bill

OTTAWA: Churches in Canada are being forced to pay council tax despite places of worship being exempt from paying fees. By law, churches in Montreal do not have to pay municipal taxes. However a little known loophole means many churches are now being faced with escalating costs. Fears are growing that churches that often host community groups and food banks ... Read More »

Canadian crude boom could send more oil to Gulf Coast refineries

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OTTAWA: Gulf Coast refineries may soon see a boost in crude volumes arriving at their doorstep, as Canadian oil sands production finally ramps up, Chicago investment research firm Morningstar said in a report released Tuesday. Production of heavy oil from western Canada’s oil sands is rising as projects — many started long before the two-year-old oil price crash — come ... Read More »

Canada to keep revenue cap on rail grain shipments, farmers glad

revenue

OTTAWA: The Canadian government said on Tuesday it planned to maintain a revenue cap on western grain that Canadian National Railway Co and Canadian Pacific Railway Ltd haul for export, a move farmers praised. The rail firms oppose the cap, formally known as the maximum revenue entitlement (MRE). It dates back to 2000 and aims to balance the market power ... Read More »

Canadian trade team interacts with Vijayawada entrepreneurs

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OTTAWA: As many as 15 Canadian companies along with Consul General for Canada Jennifer Daubeny took part in an interactive session on infrastructure organised by the Andhra Pradesh Chamber of Commerce here on Monday. Company representatives from sectors like water, waste management, solid waste, waterways, traffic signalling, sensor systems, sewerage, plastic, street lighting and architecture made their presentations and interacted ... Read More »

Canadian dollar strengthens to two-and-a-half-week high as oil prices jump

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TORONTO: The Canadian dollar strengthened on Monday to its highest level against its U.S. counterpart in more than two weeks as the price of oil, one of Canada’s major exports, jumped after major producers took a step toward extending a supply-cut deal. U.S. crude CLc1 prices settled up $1.01 at $48.85 a barrel after top exporter Saudi Arabia and Russia ... Read More »

CMHC generates $1.4 bln in net income in 2016

income

OTTAWA: Canada Mortgage and Housing Corporation (CMHC) has released its 2016 annual report titled “Innovating for Better Housing Outcomes.” The report captures how CMHC, as Canada’s authority on housing, contributes to the stability of the housing market and financial system while providing support for Canadians in housing need. In 2016, CMHC supported over 500,000 Canadian households through long-term social housing ... Read More »

Canadian pea exports well ahead of year ago

importexports

OTTAWA: Canada exported 53,400 tonnes of peas during the week ended May 7, according to the latest weekly Canadian Grain Commission report. Total pea exports during the crop-year-to-date, of 3.08 million tonnes, compare with only 2.15 million at the same point the previous year. Canadian lentil exports during the week of 6,100 tonnes brought the year-to-date total to 706,700 tonnes, ... Read More »

Vancouver real estate magnate donates $12 mln in art to the National Gallery of Canada

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OTTAWA: Sculptures, paintings and mixed media pieces — 197 works in all — have been donated to Canada’s National Gallery by real estate marketer and art collector Bob Rennie. Rennie, in Italy for the international art exhibition Venice Bienalle, says the works are a “gift to the nation to mark Canada’s 150th birthday,” adding he hopes to share them with ... Read More »

Canada, Mercosur eye renewed trade talks

enhance trade relations

OTTAWA: Canada and the South American trading bloc Mercosur have recently resumed preparations for potentially negotiating a future trade agreement, officials say, nearly five years after exploratory talks were held between them. These efforts were restarted after a technical working meeting was held between Canadian and Mercosur officials in Palacio San Martín of the Argentine Foreign Ministry, according to a ... Read More »

Canada building permits unexpectedly drop in March

DECREASES

OTTAWA: The value of Canadian building permits unexpectedly declined in March for the second month in a row as there were fewer plans to build apartments in the provinces of Ontario and British Columbia, data from Statistics Canada showed on Tuesday. Permits fell 5.8 percent, far short of economists’ expectations for a gain of 5.5 percent. The statistics agency revised ... Read More »

Canada’s carbon tax going to mimic Alberta’s plan

Carbon tax will push up costs for electricity in Singapore

OTTAWA: The federal government’s plan to impose a carbon tax on provinces that don’t do it themselves is expected to mimic the Alberta carbon program, including rebate payments sent directly to low- and middle-income individuals. A source who has seen the plan tells The Canadian Press that the technical paper outlining Ottawa’s proposal will be released next week, seven months ... Read More »

Canada’s housing starts fall in April after surge in March

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OTTAWA: Canadian housing starts fell in April after an unexpected surge in March but remained near a five-year high, data from the Canada Mortgage and Housing Corporation showed on Monday. The seasonally adjusted annual rate of housing starts fell to 214,098 units in April, slightly above analysts’ expectations of 210,000. The figure for March was revised slightly lower to 252,305 ... Read More »

Tax benefit helps Valeant post quarterly profit vs. year-ago loss

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OTTAWA: Canada’s Valeant Pharmaceuticals International Inc VRX.N VRX.TO reported a first-quarter profit on Tuesday, compared with a year-ago loss, due to a one-time income tax benefit, and the drugmaker also raised its full-year adjusted EBITDA forecast. The company’s U.S.-listed shares jumped about 13 percent in premarket trading. Net income attributable to Valeant was $628 million, or $1.79 per share, in ... Read More »

Canada’s trade deficit hits new low as exports touch record high

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OTTAWA: Canada’s trade deficit has narrowed to $135 million as its exports hit a record high. The energy and consumer sectors helped the Canadian exports rise to a new high in March, and the trade deficit to drop to a new low, according to Statistics Canada. A $800m deficit was expected by the economists for the period, according to Thomson ... Read More »