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Calgary Herald
3 days ago
- Business
- Calgary Herald
John Ivison: The first Carney spending numbers are out, and they're as bad as Trudeau's
Politics is not a zero-sum game where one person's win is automatically another's loss. An economy is not a conserved system, so, in theory, it is possible that a government could reduce taxes, increase spending and balance budgets (if, for example, revenues rise). Article content But it is a theory that is as rare in real life as white peacocks. Article content The Carney government is in the process of legislating a $5-billion-a-year middle-class tax cut, while planning to increase spending on things like the military and housing, and at the same time promising to balance the operating budget in three years. Article content Article content Yet, the Main Estimates, the government's spending plan that was released on Tuesday at the same time as the throne speech, shows no signs of the restraint that will be needed if the government is to meet that last target. Article content Article content This is the first evidence of concrete spending plans since the election and it seems the bureaucracy did not get the memo about the need for fiscal rigour. Article content The prime minister was critical of his predecessor's fondness for distributing cash, saying the Trudeau government spent too much and invested too little. Mark Carney said his government will limit operating-expense increases to two per cent a year, down from nine per cent a year under former prime minister Justin Trudeau, while preserving transfers to provinces and individuals. The Main Estimates suggest that message of restraint fell on deaf ears in Ottawa: total budgeted spending is scheduled to rise 7.75 per cent to $486.9 billion this fiscal year across 130 federal organizations (compared to last year's Main Estimates). The government will ask Parliament to vote on $222.9 billion of spending measures, a 14 per cent increase on last year's estimates. Article content Article content The most egregious spending appears to be on consultants. The estimates reveal that budgetary expenditure by 'standard object' — in this case, 'professional and special services' — are set to hit $26 billion this year, if departments are granted the approvals they are seeking (the estimates are an 'up to' amount; departments could spend less). Article content Article content These numbers require numerous caveats. They include operating and capital spending, as well as transfer payments and contributions to Crown corporations. To add some perspective, payments to seniors (Old Age Security and the Guaranteed Income Supplement) swallow up $86 billion of that number. Some people have suggested the only way to make a meaningful dent in the spending picture is to means test OAS, but Carney has already ring-fenced all transfers. Article content It should also be pointed out that the Main Estimates are not the whole picture. There will be additional 'supplementary estimates' over the course of the year that will likely increase spending further in response to events.
Cision Canada
20-05-2025
- Business
- Cision Canada
Tax Tip - Discover the Canada Revenue Agency's options to help you settle your tax debt Français
OTTAWA, ON, May 20, 2025 /CNW/ - Did you receive a letter from the Canada Revenue Agency (CRA) telling you that you owe money? We understand this can feel stressful, but we can work with you to resolve your debt. Let us help you It's important that you read all correspondence you receive from the CRA. The information and directions in the letter will explain how you can pay your debt. It's better for you to contact us as soon as possible If you can't afford to pay your debt in full, or on time, contact us to discuss your situation. You may be able to: Calculate your ability to pay Pay your debt over time Find other ways to reduce or resolve your debt Change a payment arrangement Visit Debt collection at the CRA to learn more about the options that are available to help with your debt payment. Ignoring your debt does not make it go away If you don't pay or call to discuss your situation, the CRA can take steps to recover the amount you owe. Your benefit and credit payments, or tax refunds could be withheld and applied to your outstanding debt. Not filing can lead to a tax assessment being made on your behalf. Some tax credits and deductions that you or your business may be entitled to will not be included in the assessment. Visit Unfiled tax returns for more information on non-filers. Visit us on to: Please note The CRA collects on behalf of the Canada Border Services Agency (CBSA) and Employment and Social Development Canada (ESDC) for overpayments of Employment Insurance (EI), Canada Pension Plan (CPP), Old Age Security (OAS), other overpayments, and overdue student loans. The CRA also provides collection services for defaulted Canada Emergency Business Account (CEBA) loans on behalf of Export Development Canada (EDC). To make a payment to: Contacts Media Relations Canada Revenue Agency 613-948-8366 [email protected] Stay connected Follow the CRA on Facebook Follow the CRA on X – @ CanRevAgency Follow the CRA on LinkedIn Follow the CRA on Instagram Subscribe to a CRA electronic mailing list Add our RSS feeds to your feed reader Watch our tax-related videos on YouTube Listen to our Taxology podcast SOURCE Canada Revenue Agency
Calgary Herald
19-05-2025
- Business
- Calgary Herald
Your letters: Costs of separation left out of argument
Article content The separatists would have you believe that Alberta would prosper as an independent country with a doubling of oil production within five years. That's a pipe dream for a landlocked country that wouldn't be able to get its product to market. Canada would have no incentive to help a renegade country do that. Article content Article content As for the federal taxes that would disappear, it's noteworthy that separatists fail to mention that everything these taxes pay for — such as universal medicare, Old Age Security, our military, infrastructure support, etc. — would also disappear. But then, the individuals fronting this group appear well enough off financially that real-life concerns of the average person don't affect them. Article content Article content Article content Article content Gender-based violence is initially learned at home. It can only be overcome, or condoned, at home by parents who rear children to either normalize or abhor it. To think that a government strategy can overcome it is folly. Article content Is this another attempt to distract citizens for the next 10 years from other larger issues? Article content I would wager it is. Article content Article content There are a couple of reasons to be optimistic about the future of Canada's economy. Article content First, Tim Hodgson is a very good choice for natural resources minister. Having been a board member of MEG Energy, which later became one of the founding members of the Pathways Alliance, he understands the oil and gas industry. He also understands that global warming is a world problem and that limiting the production of oil and gas in Canada will not affect emissions worldwide. It is consumers who determine how much can be sold. Article content Article content Second, Prime Minister Mark Carney has extensive experience in finance and business investments. He understands that the best way to improve the economy is to create a business climate that makes investments profitable. This works better than either excessive regulation or excessive subsidies. Article content There is hope. I am glad both Carney and Hodgson have a great deal of experience in the private sector. Article content
Hamilton Spectator
16-05-2025
- Hamilton Spectator
Hamilton landlord fined $100K for not allowing tenants back after renovations
When Darlene Wesley's landlord told her and other tenants of their small east Hamilton building to clear out for renovations, they protested. Those long-term residents of 309 Strathearne Ave. also told the property owner they expected to move back in at the same rent once the work was done. Such conditions governing existing tenants' first right of refusal are enshrined in provincial legislation, but their landlord still re-rented the apartments and jacked up the rates. 'It was traumatizing for us,' Wesley, 68, told The Spectator more than two years after she was forced to leave her home of 18 years. In a Hamilton courtroom this week, Kevin Moniz was convicted on four counts of not recognizing the four tenants' express desire to return to their homes. Justice of the peace Linda Crawford issued Moniz, who didn't attend the provincial offences trial, a $25,000 penalty for each count, amounting to $100,000 overall. Cornerstone Select Properties, the firm Moniz hired in January 2023 to lease the vacated units, was convicted on one count relating to Wesley's ordeal only, resulting in a $25,000 fine. In explaining her ruling, Crawford said 'when push came to shove,' Moniz didn't afford the tenants' first of refusal, a serious matter in an increasingly unaffordable housing market . Beyond the renovation plan, he decided to 'essentially flip (the apartments) and rent them out for more than double of what he had been getting before.' The displaced tenants provided 'very moving testimony' of how this decision had affected them, Crawford said. 'Their lives have been irrevocably changed.' Darlene Wesley, who joined Hamilton ACORN to fight to stay in her apartment of 18 years, said she and her daughter now pay more than $2,000 a month in rent. A day earlier, Wesley broke down during testimony, explaining she'd never been late on her rent during her many years at 309 Strathearne. 'I was a good tenant and I really thought we were going to come back, but that didn't happen,' said Wesley, who paid $720 a month. Her daughter, Candace Fusaro, 44, lived in a basement apartment at the same address. Once forced out, Fusaro managed to temporarily rent the apartment of an acquaintance they'd met through Hamilton ACORN, which helped take up the tenants' battle to stay put. Wesley, meanwhile, lived with her son and his family for a spell, clinging to the hope they'd return to their homes within six months once the renovations were done. But before them, Wesley recalled, her sister spotted new drapes and shampoo bottles in the windows of her apartment before knocking on the door to find new tenants there. Since then, life has 'been a nightmare,' said Wesley, noting when she turned 65 and received Old Age Security, a boost from her disability cheques, she'd hoped to put some money away for her grandchildren. That's no longer possible, Wesley said, now that she and her daughter, who relies on disability payments, pay more than $2,000 a month for a two-bedroom apartment in Stoney Creek. 'It's just not fair.' The provincial offences case issued its verdict after the tenants' battles before the Landlord and Tenant Board (LTB), and in the first year of a new Hamilton bylaw meant to crack down on bad-faith evictions known as 'renovictions.' The program, which took effect in January, requires landlords to apply for renovation licences, pay fees, submit documentation and make arrangements for temporary accommodations for tenants who exercise their right to return without spikes in rent once work wraps up. In Ontario, landlords are able to evict tenants for extensive renovations that require building permits, but tenant advocates have condemned underhanded pressure tactics as a driver of displacement motivated by profit. Under provincial legislation, landlords can't hike fees beyond annual caps, but once units are vacated, they're able to charge new arrivals whatever the market can bear. Moniz, according to evidence presented in the trial, had offered to pay two tenants $2,500 each if they'd 'void' their right of first refusal to return to 309 Strathearne. One of them, Robert Jewell, told the court he'd lived at 309 Strathearne for 25 years. 'I was able to afford this unit on minimum wage.' But since his eviction and denied return, he has couch-surfed with friends and relatives. 'It was very troubling that this happened,' said Jewell, noting he'd 'definitely felt betrayed.' Losing a place of his own has also meant a loss of freedom, for example, to have friends over, he said. 'It really affected me,' he said. 'I'm a second-class citizen all of a sudden.' In his testimony, Herman van der Meiden said he now lives in an apartment that costs twice as much but is twice as small. 'So I've lost that.' Provincial prosecutor Adrian Canagasuriam made the case for the charges through the witnesses' testimony. But Canagasuriam also presented a series of emails and text messages the tenants exchanged with Moniz during the turbulent period under examination. Jeff Varcoe, president of Cornerstone, who represented his firm during the proceedings, pleaded not guilty to the charges. He told the court that none of the correspondence entered into evidence referenced his firm. 'Our names are not mentioned anywhere in those documents,' said Varcoe, who maintained Cornerstone didn't know about the tenants' status. He also rejected Wesley's assertion that a Cornerstone representative had been within earshot of a conversation she had with Moniz about her intention to come back. 'We don't know who this person is that was standing in the hallway.' Moreover, Cornerstone received 'no financial benefit' from rents and was only paid a $950 leasing fee, Varcoe emphasized. But Crawford said she could 'not accept' that Cornerstone, whose time as property manager overlapped with Wesley but not the others, didn't know the circumstances. After Varcoe said the $25,000 penalty would bankrupt his firm, Crawford gave him a year to pay, noting he could later apply for an extension if necessary. Moniz, who didn't show up for the trial, by contrast has 15 days to pay his fines. After the hearing, Wesley said she would have preferred stiffer penalties. She and her daughter, who have relied on a paralegal, still plan to pursue compensation for being denied first right of refusal. Wesley advises tenants caught up in similar circumstances to keep a detailed paper trail with their landlords. 'Oh yes, definitely, you have to record, record, record. You have to be your own advocate.'
NDTV
28-04-2025
- Business
- NDTV
Canada Elections 2025: How Major Parties Differ On Key Issues
The federal election in Canada is shaping up to be one of the most closely contested in recent memory. With Prime Minister Mark Carney's Liberal Party holding a narrow lead over Conservative leader Pierre Poilievre, the race is intensifying as the New Democratic Party (NDP), led by Jagmeet Singh, along with smaller parties, look to make significant gains. The outcome of the election is uncertain, and voter priorities are heavily influenced by key issues such as rising living costs, housing affordability, and climate action. Here's an overview of the most pressing concerns and where each party stands: Cost Of Living The Liberals and Conservatives both want to cut taxes for people in the lowest tax bracket. The Liberals plan to lower taxes by 1%, while the Conservatives want to reduce the tax rate from 15% to 12.75%. The Conservatives also want to remove the federal sales tax on new homes and Canadian-made cars. The Liberals promise to remove taxes on homes under C$1 million for first-time buyers. The Bloc Quebecois, focused on Quebec, wants to increase Old Age Security payments by 10% and limit credit card interest rates. The NDP wants to remove sales taxes on essentials like energy, phone, and internet bills, and double the income for Canadians with disabilities. Defence Spending Canada has faced criticism for not meeting NATO's military spending target of 2% of GDP, including from US President Donald Trump. Both the Liberals and Conservatives aim to reach this target by 2030. The Liberals plan to spend C$18bn over four years on new equipment like submarines and icebreakers for the north. The Conservatives promise C$17bn, with plans to build Arctic military bases in Iqaluit and Churchill, Manitoba. The NDP has a longer timeline, aiming for 2032, and would cancel contracts for US-built fighter jets while setting up new military bases in the north. Energy And Climate The Conservatives plan to scrap the carbon pricing programme introduced by former Prime Minister Justin Trudeau. They also want to remove the cap on oil and gas emissions and Bill C-69, the Environmental Assessment Act. The party plans to offer a tax credit to support clean manufacturing. The Liberals intend to improve the industrial carbon tax, support carbon removal technologies, and approve clean energy projects faster. They also propose building a Canada east-west electricity grid and are open to new pipelines to reduce US dependency. The NDP supports the industrial carbon tax, opposes LNG pipelines in Quebec and the Alberta-New Brunswick oil pipeline, and favours the east-west electricity grid. They also oppose fossil fuel subsidies. The Bloc and Greens want to eliminate fossil fuel subsidies. The Greens aim for a fully renewable electricity system and oppose new pipelines and oil exploration projects. Trump Tariffs Most parties agree on retaliatory tariffs but differ on how to use the money. The Conservatives plan to use it for tax relief, especially for affected workers. The Liberals and NDP want to help workers and businesses, with the NDP pledging to put all funds toward support. The Liberals also promise C$5bn to diversify trade and invest in infrastructure and C$2bn to protect the auto industry. The Conservatives aim to remove trade barriers between provinces and seek new trade agreements with the UK, Australia, and New Zealand. The Bloc wants pandemic-style support for affected workers and more help for Quebec's aluminium industry. The NDP proposes a 100% levy on Tesla products if Trump imposes full tariffs and plans to bar him from the G7 summit in Alberta. Housing Prices The Liberals plan to create a federal entity to develop affordable housing, with C$25bn in debt financing for prefabricated home builders. They aim to double housing starts to 5 lakh per year. The Conservatives propose tying federal funding to cities based on the number of homes built. They aim to build 2.3 million homes over five years (4.6 lakh annually) and sell off 15% of federal buildings to make land available for affordable housing. The NDP plans to build 3 million affordable homes in five years, speed up approvals, and invest C$1bn for rent-controlled homes. They also want to set aside federal land to create 1 lakh rent-controlled units by 2035.
