Tax loopholes that help the wealthy could be on the chopping block in Ontario, a new training facility opens in Alberta as Fort McMurray rebuilding efforts ramp up, and impending NAFTA revisions could hurt some retailers while helping out Canadian small businesses. Here’s this week’s Noteworthy News.
Noteworthy News – July 19, 2017
- Ontario tax reform is targeting loopholes that help wealthy Canadians reduce their tax burden. Finance Minister Bill Morneau is setting his sights on private corporations that could be hiding some shady tax practices. Via the Toronto Star
- In the wake of the Fort McMurray fire, the Alberta Construction Safety Association (ACSA) has opened a new training facility to support safe rebuilding efforts. 2,457 private dwellings were destroyed in the fire, and 785 housing starts are already underway. Via On-Site
- As Siemens plans to close its turbine blade manufacturing plant in Tillsonburg, Ontario, 340 people are preparing for layoffs. The company blames “dramatic changes” in the global wind market for the impending closure. Via Canadian Manufacturing
- What will come of the NAFTA revisions? Some retailers expect a hit to their businesses, while others expect consumers will benefit and small businesses could prosper. Via the Toronto Star