canada

Here’s what the economy could look like with a Biden or Trump presidency

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Here's what the economy could look like with a Biden or Trump presidency

The text discusses the potential impact of a Biden or Trump presidency on the US economy. The analysis covers eight major economic categories, including domestic manufacturing, higher education, healthcare, housing, labor, taxes, tariffs, and trade. Biden and Trump have different plans and approaches to these economic categories based on their past records as president and their campaign promises. Biden focuses on issues like lowering prescription drug costs, investing in the future, supporting workers and small businesses, and ensuring fair taxation. Trump, on the other hand, has proposed plans such as protecting American car manufacturers, imposing tariffs on foreign-made cars, and focusing on fossil fuels. The text also highlights the differences in their views on student loan debt, healthcare, housing costs, labor unions, taxes, tariffs, and trade policies.

Canada just started the largest tax increase you’ve never heard of – The Hub

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Canada just started the largest tax increase you’ve never heard of - The Hub

The federal budget focused on increasing capital gains taxes to address generational fairness, but there are other tax changes coming that have been overlooked. One significant change is the increase in taxes on new business investment throughout the Canadian economy, which will lower investment and productivity. The temporary tax changes implemented in 2018 to allow faster write-offs for new investments are being phased out, leading to an increase in the effective tax rate on new investment in Canada. This will result in smaller investment returns and less capital for Canadian workers and businesses, ultimately lowering productivity growth. To boost productivity, it is suggested that governments should consider enlarging tax incentives for business investment rather than reversing the 2018 tax changes.

Increase to capital gains inclusion rate has led some business owners to re-evaluate their plans

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Increase to capital gains inclusion rate has led some business owners to re-evaluate their plans

The change to the capital gains inclusion rate has created distress among those approaching retirement, particularly business owners, who now face a much higher tax bill than they had planned.

Business tax incentives, tax reform top of budget wishlist

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Business tax incentives, tax reform top of budget wishlist

Accounting firms and associations are emphasizing the importance of addressing the rising cost of business and undertaking tax reform ahead of the federal budget release. RSM Australia is advocating for the permanent incorporation of business loss carry back offset rules into Australia’s income tax regime to encourage investment and bolster business resilience.

EU Commission: two firefighting aircraft to Cyprus

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EU Commission: two firefighting aircraft to Cyprus

The European Commission will reinforce Cyprus’ firefighting fleet with two aircraft this summer, amid increased risks of forest fires.

EU bolsters Cyprus’ firefighting capacity for warmer-than-average summer

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EU bolsters Cyprus’ firefighting capacity for warmer-than-average summer

The European Commission will provide Cyprus with two light aircraft to enhance its firefighting capabilities this summer due to the increased wildfire risks in the Southeastern Mediterranean region. The Air Tractor models will be leased by Cyprus, with costs covered by the EU through the RescEU mechanism. The aircraft will be available for deployment to other EU countries if necessary. RescEU activations have increased significantly in recent years, with Cyprus activating the mechanism eight times since 2016. Wildfires have affected 500 million hectares globally in 2023, with Greece, Spain, and Italy being the hardest hit. The focus this year is on strengthening firefighting personnel, with additional firefighters being sent to France, Greece, Portugal, and Spain for the third consecutive summer from various EU countries.

Faithful descend on Portugal’s Fatima to pray for peace as wars rage

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Faithful descend on Portugal’s Fatima to pray for peace as wars rage

Tens of thousands of faithful prayed for peace at Portugal’s Fatima shrine amid wars in Ukraine, Gaza, and other places. The shrine marks the site of reported visions of the Virgin Mary over 100 years ago. The Roman Catholic Church believes she gave three messages to three Portuguese children in 1917. Pope Francis made two of the children saints in 2017. Some pilgrims brought Ukrainian flags in support following Russia’s invasion in February 2022.

Western Canada blazes cause evacuations, air quality concerns

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Western Canada blazes cause evacuations, air quality concerns

First major wildfires of the season have spread to roughly 10,000 hectares across Western Canada. Evacuation orders issued for communities in British Columbia due to poor air quality. Residents in Northern Rockies Regional Municipality and Fort Nelson First Nations evacuated as blaze nearly doubled in size. Fire in Fort McMurray, an oil hub, was tamed by favorable weather. Alberta recorded 43 active fires, including one near Fort McMurray. Fire started by fallen tree on power line. Evacuation alerts in place for several communities as precaution. Smoke in Fort McMurray from fires in British Columbia. Environment Canada issued special air quality statement for several provinces. Canada warned of “catastrophic” wildfire season ahead due to warm winter and ongoing drought.

Warren Buffett said he could make a 50% return on $1 million and predicted higher taxes. Here are 14 Q&A nuggets.

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Warren Buffett said he could make a 50% return on $1 million and predicted higher taxes. Here are 14 Q&A nuggets.

Warren Buffett said he could make a 50% return on million.

Chrystia Freeland defends carbon tax, dismisses leadership speculation

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Chrystia Freeland defends carbon tax, dismisses leadership speculation

The text discusses Finance Minister Chrystia Freeland defending the government’s budget and carbon tax at a parliamentary committee. Freeland dismissed political speculation and emphasized the importance of a credible climate policy.