OTTAWA — Parliament’s spending watchdog is putting new numbers to the cost of matching recent U.S. business-tax changes, pegging the price to the federal treasury at more than double government estimates.
The parliamentary budget officer says in a report Wednesday that it would cost $36.7 billion over five years to let businesses write off 100 per cent of the cost of equipment and machinery from their taxes.
U.S. President Donald Trump’s tax changes in late 2017 allowed businesses to expense the full cost of depreciable assets, such as buildings.
A year later, Finance Minister Bill Morneau’s fall economic update allowed Canadian businesses to immediately write off the full cost of some types of machinery and equipment used for manufacturing or processing goods, and expense a larger share of newly acquired assets.
The hit to federal revenues was estimated to be about $14 billion over five fiscal years, which the government argued was needed to help businesses in Canada stay competitive.
In 2015, Canadian businesses spent more than $200 billion on new depreciable property, including buildings, intellectual-property rights, machinery and other equipment.
The PBO report says if Canada matched the U.S. move exactly, there would be a decline of $8.8 billion in tax revenue this year — much more than the almost-$5-billion for the measures in the 2018 fiscal update — with annual foregone revenue falling to $5 billion after five years and then “decreas(ing) significantly” thereafter as the measure is phased out.
The report also says businesses could also expense an estimated $164 billion in unused write-offs over the next two decades if Canada matched the United States, and reduce the amounts of tax they owe.
However, the PBO suggests the government could recoup some of the money: Companies will have higher after-tax incomes that can be used for dividends to shareholders, which in turn would increase revenues from personal income taxes.
The Canadian Press
Stand Together Against Bullying – Pink Shirt Day 2021
Wednesday, February 24, 2021 is the 14th annual Pink Shirt Day, a globally recognized movement to end bullying in all its forms and encourage the growth of a global community built on acceptance and support regardless of sex, age, background, gender identity, sexual orientation or cultural differences.
Pink Shirt Day originated in 2007 in the eastern Canadian province of Nova Scotia, in a local story that captured national – and eventually international – attention, when a new 9th grade student walked in on the first day of school wearing a pink polo shirt.
Travis Price and David Shepherd are the two young men responsible for unintentionally launching the global pink shirt movement. According to Price and Shepherd, a group of students were physically and verbally bullying the young man for wearing pink to school. As senior students, Price and Shepherd saw the situation as an opportunity to set an example and take a stand against bullying in their school.
That night the two went and purchased 75 pink tank tops and released a call on social media (MSN messenger at the time) encouraging their fellow students to show up at school the next day wearing pink. According to Price, in a school of roughly 1000 students, “700 to 850 kids showed up wearing pink. It was incredible.”
Since 2007, the movement has gained exponential traction and is now recognized in communities all around the world as individuals come together in an international display of solidarity against the devastating impacts of bullying.
The global movement to end bullying has led to the creation of countless local, national and internationally available resources, but there is still a long way to go.
Bullying Canada identifies 4 distinct types of bullying: verbal, physical, social and cyber. Short term and long term effects of bullying vary based on each situation, and can lead to damaging and dangerous outcomes for victims, friends, bystanders and countless others. While commonly associated with children and young adults in school, bullying impacts individuals of all ages and backgrounds in many areas of life, including the workplace.
Statistics released by Safe Canada revealed that 47% of Canadian parents have at least one child that has experienced bullying, while approximately 33% of the population experienced bullying as a child, and 33% of teenagers reported being bullied recently. Furthermore, around 40% of Canadians reportedly experience bullying in the workplace on a weekly basis.
If you, or someone you know is struggling with bullying, reaching out is the first step. You are not alone, and help is available. Extensive networks of resources exist in Alberta and across Canada to provide support, aid and solutions for those experiencing bullying.
For support from Bullying Canada, call (877) 352-4497, or email [email protected]
The Alberta 24-hour Bullying Helpline can be reached at 1-888-456-2323, or the online Bullying Helpline Chat can be accessed here.
For more resources on how to identify a bullying situation, get help, or help someone in need, visit https://www.alberta.ca/bullying-how-to-help-others.aspx.
For more stories, visit Todayville Calgary.
First Nation applauds new initiative protecting boreal forest in the Kitaskino Nuwenene Wildland Park
February 11, 2021
Fort Chipewyan-AB-Mikisew Cree First Nation applauds a major expansion in protecting the boreal forest area in the Kitaskino Nuwenene Wildland Park initiative.
The announcement to expand the protected area by nearly 150,00 hectares means more of the area south of Wood Buffalo National Park will be protected along with the headwaters, which flow into the Delta area. This marks a key step in a collaborative effort between Mikisew Cree First Nation, Government of Alberta, Government of Canada, energy, mineral and forestry companies.
“Today’s announcement is about protecting the land and celebrating partnerships between First Nations, government and industry,” said Mikisew Chief, Peter Powder. “We wouldn’t be on the doorstep of this significant expansion without cooperation. We hope this means we can move forward with the western expansion of the Kitaskino-Nuwenene Wildland Park as part of Mikisew’s stewardship vision for our lands, waters and iconic species such as woodland caribou and wood bison.”
After engaging with the community, it was clear leaders and land users wanted to protect this area for future generations. The overall goal of the Kitaskino Nuwenene Wildland Park is for Mikisew Cree First Nation and other Indigenous groups to play a key role in safeguarding the area and the traditional resources within it. The expansion has received a strong endorsement from the Athabasca Chipewyan Cree First Nation, Fort Chipewyan Metis, Fort McKay First Nation, Fort McKay Métis, and Fort McMurray Métis. Kitaskino-Nuwenene translated means, “Our Land” in Cree and Dene.
“Moving this forward is another step in implementing the Nikechinahonan Framework, which is the vision of the Mikisew to ensure our cultural survival. We look forward to building on this momentum by working to protect more habitat of the Ronald Lake Bison Herd and by continuing our efforts to save the Peace Athabasca Delta‘ ‘ said Melody Lepine, Mikisew Cree First Nation director.
Kitaskino Nuwenene Wildland Park is located along the southern border of Wood Buffalo National Park in northern Alberta. Phase 1 was established in 2019. This project was undertaken with the financial support of Environment and Climate Change Canada through Canada’s Nature Fund.
Read more on Todayville.
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