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Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Canadian Chamber of Commerce Policy experts’ insights on 2024 Federal Budget Policy experts from the Canadian Chamber of Commerce have reviewed the Budget in detail, and their perspective on its implications for Canadian business. Uncertainty in Canada’s tax landscape could weigh on investment James Orlando, the director of economics at TD…  Read more

Deputy Prime Minister and Minister of Finance Chrystia Freeland released the federal budget on April 16, 2024, against a backdrop of Canadians facing the significant challenge of elevated costs of living. In light of the continued economic uncertainty, measures in the budget are targeted with the stated goal of building more affordable homes, making life cost less and growing the economy. Although there are no proposed changes to the personal…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Businesses, consumers more optimistic about economy amid expected rate cuts The Bank of Canada says business and consumer sentiment improved during the first quarter of the year, despite higher interest rates still putting a drag on the economy. The central bank released its business outlook and consumer expectations surveys…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. CRA no longer requiring tax return for bare trusts this year Canadians with bare trust arrangements, such as a co-signed mortgage or joint bank account, won’t be required to comply with new tax-reporting requirements for 2023. The Canada Revenue Agency (CRA) said in an announcement Thursday that bare trusts no longer have to…  Read more

Our office wishes you sunshine, good times and a very happy Easter this year! We hope you have a chance to head outside and enjoy the springtime weather! Please note that our office will be closed on Friday, March 29, and will re-open at 9:00 AM on Monday, April 1.  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. 40% of Canadian industries ‘highly vulnerable’ to supply shocks Forty per cent of Canadian industries are “highly vulnerable” to external demand and supply shocks, Statistics Canada says.  The federal statistic agency said on Friday those industries, which account for 25 per cent of Canada’s economic output, are exposed to risks…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. A change to Canadian banking is coming… A long-promised revolution in banking is headed to Canada, but you might not notice when it arrives. Change is in the works that will give Canadian consumers and businesses significantly more control over their financial data, including who they share it with, in what’s…  Read more

Update from CRA as of March 28, 2024: In recognition that the new reporting requirements for bare trusts have had an unintended impact on Canadians, the Canada Revenue Agency (CRA) will not require bare trusts to file a T3 Income Tax and Information Return (T3 return), including Schedule 15 (Beneficial Ownership Information of a Trust), for the 2023 tax year, unless the CRA makes a direct request for these filings.…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Inflation in Canada slows Canada’s inflation rate slowed in January to a 2.9% increase, compared to December’s 3.5% hike, according to Statistics Canada. This slowdown keeps the Bank of Canada on track for a potential interest rate cut in June. Lower costs for fresh vegetables and air travel contributed…  Read more

A huge thank you to our client for the lovely and thoughtful gesture! Knowing that we are appreciated means the world to us, and we look forward to continuing to work with all of our clients!  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Interest rate cuts would ease housing supply constraint, Fraser suggests Cuts to interest rates in Canada may lead to better housing supply, Housing Minister Sean Fraser suggests. As pandemic bills come due, are Canada’s small businesses in danger? How many mom-and-pop shops on our main streets are destined to disappear in the coming…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Canada’s economy added 37,000 jobs in January as unemployment declines to 5.7% Canada’s economy added 259,000 jobs in February, surpassing expectations and reducing the unemployment rate to 8.2%, the lowest since March 2020. The gains were primarily in the retail and hospitality sectors, with full-time positions accounting for 80%.…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Interest rates won’t solve housing problems, Macklem says While the Bank of Canada continues to grapple with the high cost of housing in its quest to tamp down inflation, the governor of the central bank is telling lawmakers that monetary policy isn’t going to fix affordability issues in the market. A…  Read more

Our clients are the heart of our company, and we want to wish all of you a Happy Valentine’s Day. We hope that you enjoy everything that makes you happiest.  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. 2024 in charts: Experts predict what’s to come for housing, jobs, wages, interest rates and more Economists, academics, investors and business leaders pick a chart that highlights an issue that will be important to watch in 2024. Bracing for impact: The looming hard landing of Canada’s economy If you’re…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Fixed mortgage rates are on the decline. Is now the time to lock in? Rates on some fixed mortgages have dropped by a full percentage point in the past few months, opening up an opportunity for Canadians eyeing the spring housing market or with a mortgage of their own up for renewal. Canada…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Canadian dollar ended 2023 on a hot streak but don’t expect the momentum to last The Canadian dollar ended 2023 on something of a hot streak, but will be hard pressed to keep up the momentum in the new year as headwinds gather and fundamentals favour the greenback, currency analysts…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Bank of Canada will cut interest rate three times this year to bring rate to 4.25%, Deloitte predicts The Bank of Canada will likely start cutting interest rates in the second quarter of 2024, predicts the chief economist at Deloitte Canada. Get ready for the ‘great adjustment’ in Canada’s housing market Home prices…  Read more

The entire AoM team wishes all of our clients a very warm thank you this holiday season! We appreciate all of your support, and are looking forward to working with you for another successful year! Please note that our office will be closed for the holidays from noon on Thursday, December 21, and will re-open at 9:00 AM on Tuesday, January 2, 2024. We wish you all the very best…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Canada’s trade surplus grew more than expected in October Canada recorded a larger-than-expected trade surplus of $2.97-billion in October, as exports rose marginally but imports slumped, Statistics Canada said. Bank of Canada says immigration curbs long-term inflation, but has strained housing market Immigration pushed a steady decline in housing…  Read more