Latest news with #CraigLord
Yahoo
12 hours ago
- Business
- Yahoo
GST relief on new homes could save 1st-time buyers up to $240 on mortgages: report
OTTAWA — A new analysis says first-time Canadian homebuyers could save up to $240 on their monthly mortgage payments through the federal government's proposal to waive the sales tax on new builds. Desjardins Economics says in a new report that the impact on housing affordability will be "particularly strong" for buyers in Canada's more expensive markets, like Toronto and Vancouver. The Liberal government has tabled legislation to eliminate the GST portion from new home sales of up to $1 million for first-time buyers, which works out to as much as $50,000 off the cost of a new build or substantially renovated unit. For homes sold above $1 million, the GST relief is phased out as the price tag nears $1.5 million. But Desjardins also cautions that the policy could drive up demand for housing, which in the near-term could push up home prices if not coupled with other efforts to boost supply. Parliament has yet to pass the legislation, which the Liberals introduced alongside the government's pledge to cut income taxes starting July 1. This report by The Canadian Press was first published June 9, 2025. Craig Lord, The Canadian Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
02-06-2025
- Business
- Yahoo
Ottawa collects extra $617M from import duties in March as counter-tariffs hit U.S.
OTTAWA — Ottawa collected an extra $617 million in import duties this past March compared to a year earlier as counter-tariffs against U.S. trade restrictions came into effect. The federal government's latest fiscal monitor report, published late last week, shows revenues from customs import duties topped $1 billion in March, more than double the figure from a year earlier. In March the federal government slapped retaliatory tariffs on billions of dollars in U.S. goods entering Canada — costs that are paid by Canadian businesses importing the items. The Liberal party projected during the recent federal election campaign that counter-tariffs against the United States would raise an estimated $20 billion over 12 months. Finance Minister François-Philippe Champagne said in an interview with CBC last week that the figure in the Liberal platform was "a projection at a moment in time" and noted the tariff situation has been changing rapidly. The Liberals are forgoing publishing a spring budget but have promised a fiscal update in the fall. This report by The Canadian Press was first published June 2, 2025. Craig Lord, The Canadian Press
Yahoo
26-05-2025
- Business
- Yahoo
Canada Post says parcel volume is down 50% from last year amid overtime ban
OTTAWA — Canada Post says its parcel shipping volumes are down 50 per cent from this time last year as uncertainty about a work stoppage holds back orders. The Crown corporation and its union were back at the bargaining table on the weekend hoping to settle a long-standing dispute over wages and other prospective changes aimed at keeping the struggling postal service afloat. Canada Post says it's reviewing the union's answer to its latest offer, received Sunday, and will respond in short order. In the meantime, a national ban on overtime continues as Canadian Union of Postal Workers members stop short of a full strike. The postal service is warning of delays in mail delivery while overtime is off the table. A Canada Post spokesperson blames "ongoing uncertainty" for the impact on the postal service's business and warns the labour disruption's impact on the Canadian economy will be greater. This report by The Canadian Press was first published May 26, 2025. Craig Lord, The Canadian Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CTV News
25-05-2025
- Business
- CTV News
Canada Post, union set to meet on Sunday as overtime ban stretches on
People walk past the Canada Post facility in Mississauga, Ont., on Thursday, May 22, 2025. THE CANADIAN PRESS/Nathan Denette OTTAWA — Canada Post says it is set to meet with negotiators from its union today as a national ban on overtime for postal workers stretches through the weekend. A spokesperson for the postal service says today's meeting will be the first of the weekend. A mediator will be on hand to work with the parties. The meeting comes a few days after Canada Post presented its latest offers to the union, which included a hike in pay and plans to roll out a fleet of part-time workers. The Canadian Union of Postal Workers has yet to offer a formal response to the proposals, but its request for a two-week 'truce' to consider the deal was rejected by the employer. Canada Post has warned of delays in mail service after the union issued a national ban on workers taking overtime late Thursday — stopping short of a full strike. This report by The Canadian Press was first published May 25, 2025. Craig Lord, The Canadian Press
Yahoo
25-05-2025
- Business
- Yahoo
Canada Post, union set to meet on Sunday as overtime ban stretches on
OTTAWA — Canada Post says it is set to meet with negotiators from its union today as a national ban on overtime for postal workers stretches through the weekend. A spokesperson for the postal service says today's meeting will be the first of the weekend. A mediator will be on hand to work with the parties. The meeting comes a few days after Canada Post presented its latest offers to the union, which included a hike in pay and plans to roll out a fleet of part-time workers. The Canadian Union of Postal Workers has yet to offer a formal response to the proposals, but its request for a two-week "truce" to consider the deal was rejected by the employer. Canada Post has warned of delays in mail service after the union issued a national ban on workers taking overtime late Thursday — stopping short of a full strike. This report by The Canadian Press was first published May 25, 2025. Craig Lord, The Canadian Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
