Investment income, also known as passive income, is being targeted in a big way. Passive income generally is defined as anything non-active, such as interest, dividends, rental and royalty income and capital gains and it appears the government is taking a two-step approach to managing it.
Farm businesses have special status under certain provisions of the Canadian Income Tax Act (ITA).
Along with fishing operations, farmers can use the cash method of accounting (or cash accounting) for reporting income for income tax purposes.
On April 10, 2018, Finance Minister Donna Harpauer delivered her first budget as Finance Minister. The Finance Minister pointed to the province’s continued shift away from a reliance on natural resource revenue as a positive sign for the economy: Natural resource revenue is projected to make up 10% — or $1.48 billion — of what the province brings in.
The Comprehensive & Progressive Trans-Pacific Partnership (CPTPP) agreement (formerly the 11-member Trans-Pacific Partnership agreement, or TPP-11) was signed by its member states, including Canada, on 8 March 2018. The agreement covers a market of 495 million people with a combined GDP of CAD$13.5 trillion, or nearly 13.5% of global GDP.