Skip to main content

Featured

Ottawa Backs Down on Digital Tax Dispute Amid Pressure from Trump White House

Canada has reportedly agreed to delay its planned digital services tax (DST) following pressure from former U.S. President Donald Trump’s administration, according to a recent statement from the White House. The tax, which was originally slated to target tech giants like Amazon, Meta, and Google, had been a major sticking point in U.S.-Canada trade discussions. The White House claimed Canada “caved” to U.S. demands after months of negotiations, with Trump’s team arguing the tax unfairly targeted American firms. The Canadian government, however, framed the delay as a strategic move to preserve economic stability and avoid retaliatory tariffs. Critics within Canada argue that the government’s decision reflects a growing trend of yielding to U.S. economic influence, while others say the delay is pragmatic given ongoing global talks about a coordinated approach to taxing digital revenues. The issue remains contentious, and observers are watching closely to see whether Canada will revive th...
Post a Comment
Read more

article

Labels

Bank of Canada' increases rate to 5% - what does it means for Canadians?

The recent decision by the Bank of Canada to raise the interest rate to 5% could have significant implications for Canadians' finances in the current economic landscape. With higher borrowing costs, individuals may face increased expenses when obtaining mortgages, car loans, or personal loans. This could potentially limit their discretionary spending power, affecting their ability to make large purchases or invest in the economy. 

Moreover, homeowners with variable-rate mortgages or those renewing their mortgages may experience higher monthly payments, potentially straining their budgets. While savers may benefit from higher returns on savings accounts and fixed-term deposits, individuals with investments in bonds may face lower returns. Furthermore, a stronger Canadian dollar resulting from increased interest rates could impact export-dependent businesses, as it raises the relative cost of Canadian goods abroad. Overall, the impact of the rate hike on Canadians' finances will depend on various factors, including individual circumstances and the broader economic conditions.







Labels:

Comments

Post a Comment