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The Government of Canada has enacted new mortgage reforms, effective December 15, 2024, aimed at increasing accessibility to homeownership. These reforms include raising the price cap for insured mortgages from $1 million to $1.5 million and extending eligibility for 30-year mortgage amortizations to all first-time homebuyers and
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On December 16, 2024, the Government of Canada released its Fall Economic Statement in Ottawa, Ontario. The statement outlines several key investments aimed at enhancing the country's social safety net and economic infrastructure. The government has announced plans to increase funding for child care, dental care, and prescription
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The Canadian government has announced new measures to encourage increased investment by pension funds within the country. These measures were outlined in the 2024 Fall Economic Statement and include several key changes aimed at facilitating domestic investment opportunities. * Investment Limit Removal: The government plans to remove the existing rule that
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The Government of Canada has announced proposed changes to the Scientific Research and Experimental Development (SR&ED) tax incentive program. These changes are outlined in the 2024 Fall Economic Statement and involve a planned investment of $1.9 billion over six years. Key proposed reforms include: * Increasing the expenditure
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The Canadian government has announced that Bill C-78, known as the Tax Break for All Canadians Act, has received Royal Assent. This legislation will temporarily remove the Goods and Services Tax (GST) and Harmonized Sales Tax (HST) on a range of holiday essentials from December 14, 2024, to February
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The Canadian government has introduced Bill C-78, known as the Tax Break for All Canadians Act, which has been approved by the House of Commons and is currently under consideration by the Senate. The bill proposes a temporary exemption from the Goods and Services Tax (GST) and Harmonized Sales
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The Canada Border Services Agency (CBSA) has released its report for the year 2024, detailing its activities and contributions to Canada's economy. The agency processed approximately 4.5 million commercial trucks, maintaining the same volume as 2023, and assessed around $32.5 billion in duties and taxes. Clarington
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The Canada Border Services Agency (CBSA) reported its enforcement activities in the Southern Ontario Region for the period from January 1 to October 31, 2024. During this time, the CBSA intercepted 392 firearms and 2,819 weapons, and seized 4,083 kilograms of narcotics. Additionally, 1,742,976 kilograms of
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On December 8, 2024, three individuals escaped from the Laval Immigration Holding Centre in Quebec. The individuals have been identified as Bryan Ulises Moya Rojas, Diego Nicolas Flores Sepulveda, and Daniel Eliseo Gonzalez Ihrig, all Chilean nationals. The Canada Border Services Agency (CBSA) has issued arrest warrants and is collaborating
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The Canadian government has announced a financial commitment of up to $240 million to Cohere, a Toronto-based company specializing in artificial intelligence (AI). This funding is part of the newly launched Canadian Sovereign AI Compute Strategy, which aims to enhance AI infrastructure in Canada. The strategy, with a total
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The Government of Canada has announced an expansion of the list of prohibited assault-style firearms, effective December 5, 2024. This measure includes an amnesty order, valid until October 30, 2025, to allow businesses and owners to comply with the new regulations. The amnesty also provides temporary exceptions for Indigenous
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Health Canada has released the results of the 2024 Canadian Cannabis Survey, which was conducted from April 4 to July 2, 2024. The survey aims to provide insights into Canadians' knowledge, attitudes, and behaviors regarding cannabis use. Key findings from the survey include: * A decline in the proportion of