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Forget the Isle of Man. Ottawa is our latest tax haven.


Forget the Isle of Man. Ottawa is our latest tax haven.
By Alan Freeman. Published on Jul 21, 2021 4:01pm
Realizing a disaster in the making, efforts were made to stop the bill and introduce amendments, but it was too late.
Canada Revenue Agency headquarters in Ottawa (Jolson Lim/iPolitics)
Accounting firms and tax lawyers who spend their days figuring out aggressive ways of reducing taxes for their corporate clients no longer have to conjure up schemes that involve sending assets to the Isle of Man or other tax havens.
Thanks to the Parliament of Canada, they’ve been handed a series of loopholes in the Income Tax Act that could allow a rush of tax-free transfers of shares between business owners and their children. It’s called Bill C-208, and it’s the worst public-policy failure I’ve seen in a long time, demonstrating everything wrong about how MPs, government, and the bureaucracy work or, more precisely, don’t work together. The res ....

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WestJet withdraws from negotiations with the government on pandemic assistance


WestJet withdraws from negotiations with the government on pandemic assistance
Calgary-based WestJet said today that after months of negotiations, it has officially concluded negotiations with the federal government on a financial assistance program to help the airline during the COVID-19 pandemic.
The airline’s statement this afternoon came the day after Canada announced plans to reopen its borders next month to fully vaccinate U.S. citizens and travellers from all over the world in September.
WestJet said in a statement: “Given the encouraging vaccination rates across the country, both parties have agreed to shift the focus from these negotiations, from taxpayer-sponsored support to leading the safe restart of travel and tourism.” ....

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Exit Interview: Catherine McKenna on the Canada Infrastructure Bank, getting to net zero and her record in politics

Exit Interview: Catherine McKenna on the Canada Infrastructure Bank, getting to net zero and her record in politics
calgaryherald.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from calgaryherald.com Daily Mail and Mail on Sunday newspapers.

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