Regulator rejects B.C. government’s promised hydro rate freeze

Regulator rejects B.C. government’s promised hydro rate freeze
VICTORIA — Hydro rates in British Columbia will increase three per cent in April after the province’s independent energy regulator overruled a government promise to freeze rates for one year. Energy Minister Michelle Mungall says she’s disappointed with the B.C. Utilities Commission’s decision, but it has prompted the government to immediately start planning to help those who are struggling to pay their power bills.... Read More

Morneau eyes tax evasion crackdown that would share confidential information

Morneau eyes tax evasion crackdown that would share confidential information
TORONTO — Finance Minister Bill Morneau says the government is considering legislation aimed at tax evaders that would give foreign authorities some access to Canadians’ confidential information. Speaking in Toronto at the Canadian Club this morning, he stressed the proposal is aimed at cracking down on international money laundering and terrorism financing. Morneau did not detail how the government will ensure the privacy of Canadians is not infringed on, but says it is committed... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
Some of the most active companies traded Thursday on the Toronto Stock Exchange: Toronto Stock Exchange (15,393.95, down 48.73 points) Aurora Cannabis Inc. (TSX:ACB). Health care. Up 38 cents, or 3.65 per cent, to $10.78 on 11.3 million shares. Bombardier Inc. (TSX:BBD.B). Aerospace, rail equipment. Down eight cents, or 1.97 per cent, to $3.98 on 10.1 million shares. BELLUS Health Inc. (TSX:BLU). Biotechnology. Unchanged at... Read More

US consumer spending ticked up in January as incomes soared

US consumer spending ticked up in January as incomes soared
WASHINGTON — Americans lifted their spending just 0.2 per cent in January, while their incomes jumped because of last year’s tax cuts. The Commerce Department said Thursday that the modest spending increase followed gains of 0.4 per cent in December and 0.8 per cent in November. Incomes rose 0.4 per cent, boosted by $30 billion in tax cut-related bonuses the government estimates were paid out in January.... Read More

Self-employed workers can get tax surprise if they’re not prepared

Self-employed workers can get tax surprise if they’re not prepared
MONTREAL — The growth of the gig economy is making it easier for Canadians to earn extra cash driving for Uber, renting out their homes on Airbnb or making crafts to sell on Etsy, but people new to the side-hustle game may be in for an eye opener when it comes to tax season, say experts. That’s because new self-employed workers are often ignorant... Read More