Canada defiant after Saudi Arabia freezes new trade over human rights call

Canada defiant after Saudi Arabia freezes new trade over human rights call

2018 08 06 SmallBy Aziz El Yaakoubi and David Ljunggren

RIYADH/OTTAWA (Reuters) - Canada on Monday refused to back down in its defense of human rights after Saudi Arabia froze new trade and investment and expelled the Canadian ambassador in retaliation for Ottawa's call to free arrested Saudi civil society activists.

In her first public response to Saudi Arabia's actions, Foreign Minister Chrystia Freeland said, "Canada will always stand up for human rights in Canada and around the world, and women's rights are human rights."

Riyadh on Sunday recalled its ambassador from Canada and gave the Canadian ambassador 24 hours to leave. The Saudi government also banned new trade with Canada, although it was unclear if it would affect existing annual Saudi-Canadian trade of nearly $4 billion and a $13 billion defense contract.

Read more: Canada defiant after Saudi Arabia freezes new trade over human rights call

Saudi Arabia freezes new trade with Canada for urging activists' release

Saudi Arabia freezes new trade with Canada for urging activists' release


Riyadh SmallBy nayera abdallah and David Ljunggren

CAIRO/OTTAWA (Reuters) - Saudi Arabia will suspend new trade and investment with Canada after that country's foreign ministry urged Riyadh to release arrested civil rights activists, it said in a statement released to the official Saudi Press Agency on Sunday.

It also gave the Canadian ambassador 24 hours to leave the country and recalled its own ambassador to Canada, the statement by the Saudi foreign ministry said, adding it retained "its rights to take further action."

The Saudi ministry had been briefed that the Canadian foreign ministry and the Canadian embassy urged the Saudi authorities to "immediately release" civil rights activists, the statement said.

Read more: Saudi Arabia freezes new trade with Canada for urging activists' release

Aimia proposes revised offer of C$450 million for Aeroplan loyalty business

Aimia proposes revised offer of C$450 million for Aeroplan loyalty business

2018 07 25T133918Z 1 LYNXMPEE6O1C4 OCABS RTROPTP 3 CBUSINESS US AEROPLAN M A AIR CANADAMONTREAL (Reuters) - Aimia on Thursday said it rebuffed an offer by Air Canada and partners to buy its Aeroplan loyalty program and urged the carrier to make a higher offer for the business. The consortium's cash offer of C$250 million, later updated to C$325 million, did not reflect the value of the Aeroplan business, Aimia Inc said in a statement.

In a separate statement, Air Canada, the country's largest carrier, said Aimia rejected its original bid.

Aimia said it proposed a revised offer of $450 million for the program to Air Canada <AC.TO> and its partners, Toronto-Dominion Bank, Canadian Imperial Bank of Commerce <CM.TO> and VISA Canada Corp.

Read more: Aimia proposes revised offer of C$450 million for Aeroplan loyalty business

Canada exports hit record, U.S. tariffs hurt steel and aluminum

CanadaEconomyCanada exports hit record, U.S. tariffs hurt steel and aluminum

By David Ljunggren

OTTAWA (Reuters) - Canadian exports hit a record high in June, cutting the country's trade deficit to its lowest in 17 months, although U.S. metals tariffs slashed shipments of steel, Statistics Canada said on Friday.

The June deficit of C$626 million ($482 million) - the lowest since the C$485 shortfall recorded in January 2017 - was far smaller than the C$2.30 billion predicted by analysts in a Reuters poll.

Read more: Canada exports hit record, U.S. tariffs hurt steel and aluminum

Air Canada, banks make C$2.25 billion bid for Aeroplan loyalty programs

Air Canada, banks make C$2.25 billion bid for Aeroplan loyalty program

Reuters) - Air Canada, two Canadian banks and Visa, offered on Wednesday to buy back the Canadian airline's previous Aeroplan frequent flyer program from Aimia Inc., for C$2.25 billion ($1.71 billion).

Air Canada, Canada's largest airline, spun off Aeroplan in 2002 to data analytics firm Aimia, and earlier this year said it would launch its own loyalty program.

Read more: Air Canada, banks make C$2.25 billion bid for Aeroplan loyalty programs

Canada's new export minister to push beyond U.S. market

Canada's new export minister to push beyond U.S. market

By Andrea Hopkins

OTTAWA (Reuters) - Canada has created a new Cabinet position to help exporters look beyond the United States and there will be resources for small businesses that want to take advantage of new trade deals, the new minister for export promotion said on Tuesday.

Mary Ng, who vaulted to Cabinet-level last week to take on an existing small business portfolio as well as a new one on export promotion, said she wants to help companies take advantage of new trade deals with the European Union and Pacific nations that have specific provisions to welcome small business trade.

Prime Minister Justin Trudeau's Cabinet shuffle put trade diversification front and center amid rising tensions with the United States, Canada's largest trading partner, with Ng and new Trade Minister Jim Carr tasked with finding new markets for Canadian goods.

Read more: Canada's new export minister to push beyond U.S. market

Exiting the Canadian Tax System Worry-free

Exiting the Canadian Tax System Worry-free

MovingMoving or working abroad does not necessarily mean you are considered a non-resident for tax purposes. Depending on your ties to Canada, number of days in Canada, and other factors, the Canada Revenue Agency (CRA) may consider you a factual resident, deemed resident, non-resident, or deemed non-resident.

Read more: Exiting the Canadian Tax System Worry-free

THE END OF THE VOLUNTARY DISCLOSURE PROGRAM?

THE END OF THE VOLUNTARY DISCLOSURE PROGRAM?

Wayne Bewick, CPA, CA, CPA (Illinois) Partner, Expatriate Tax
TROWBRIDGE
1-416-214-7833 x 101  
1-855-856-0829
This email address is being protected from spambots. You need JavaScript enabled to view it.

Current VDP guidelines allow Canadians who know they have made mistakes on their previous tax returns, from at least one year prior, to come forward and notify the Canada Revenue Agency (CRA) of their misfiled documents. They can then make the appropriate changes to the information without fear of prosecution. The proposed changes would drastically change these policies, including:

Read more: THE END OF THE VOLUNTARY DISCLOSURE PROGRAM?

Canadian Retirement Income… In The US:


Living in the US and receiving Canadian retirement income? Retirement small

Tips on reporting this income to the IRS and related issues

Many former Canadian residents prefer spending their retirement years in the US, especially in the Southern states with better climate and more affordable property values. But this triggers many complexities, especially in reporting Canadian retirement income to the IRS. This article will give some quick tips on reporting of such income to the IRS.

First of all, it is important to determine what type of retirement income you are receiving. Should a person be a resident of Canada, the income would be reported on various T-slips which include but are not limited to:

  • T4RSP slips – to report distributions from RRSP accounts which could be treated as annuity payments or regular account withdrawals;
  • T4A slips – various pension, retirement, annuity or other similar income;
  • T4A(P) slips – Canada Pension Plan benefits;
  • T4A(OAS) slips – Canadian old age security payments.
Read more: Canadian Retirement Income… In The US:

HST Housing Rebate

New Housing Rebate

The combination of the Goods and Services Tax (GST) and the Provincial Sales Tax (PST) into the Harmonized Sales Tax (HST) that has taken place in the provinces of New Brunswick, Newfoundland and Labrador, Nova Scotia, Ontario, and Prince Edward Island, has resulted in increased sales tax charged to purchasers of a number of consumer goods and services.

Read more: HST Housing Rebate

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