Ottawa | Reuters –– The Canadian government and the 10 provinces on Monday settled a disagreement on how to split the revenues from a proposed federal tax on the sale of marijuana once the drug is legalized, Finance Minister Bill Morneau said. Morneau told reporters that for an initial two years, 75 per cent of […] Read more
Feds, provinces end dispute on how to split pot tax revenues
StatsCan to add marijuana economic impact to GDP data
Ottawa | Reuters — As Canada gears up to legalize recreational marijuana, the country’s statistics agency said on Tuesday it will begin measuring the economic impact of the current illegal use and production of the drug and add it to growth data. Statistics Canada said it will begin tallying the production and sale of cannabis […] Read more
Constellation hedges bets on pot boom with Canopy stake
Reuters — Constellation Brands has bought a nearly 10 per cent stake in Canadian cannabis producer Canopy Growth Corp. for about $245 million, making it the first major wine, beer and spirits producer to invest in legal cannabis. The move by the maker of Corona beer and Svedka vodka comes as Canada and a growing […] Read more
Xplornet to buy NetSet
A rural broadband provider serving over 500 Manitoba municipalities and communities is set to be absorbed into one of Canada’s biggest rural operators. Xplornet Communications announced Monday it has signed a deal to buy the internet access business of Brandon-based NetSet Communications. Financial terms of the deal for the privately-held Manitoba company weren’t disclosed, except […] Read more
Greig: Federal tax backtracks aside, much of impact still unknown
The Canadian Association of Farm Advisors’ annual tax update showcased confusion and frustration at the federal government’s shifting plan to change how small business is taxed. “I was very, very offended by all of this,” said Kurt Oelschlagel, of BDO Canada, who was part of a panel on the government changes at the CAFA event, […] Read more
Ottawa scraps plans for new limits on capital gains
The federal finance ministry has backed away from proposed plans for new limits on capital gains exemptions, over concerns of “unintended consequences” for businesses such as farms. Finance Minister Bill Morneau on Thursday announced the federal government “will not be moving forward with measures that would limit access to the LCGE (lifetime capital gains exemption),” […] Read more
Toronto exchange may delist marijuana firms with U.S. operations
Toronto | Reuters — Canada’s TMX Group, operator of the Toronto Stock Exchange, said on Monday that it might delist stocks of marijuana companies with interests in the U.S., where their operations are illegal under federal law. TMX disclosed its plans as Canadian securities regulators said companies must disclose any connection to the U.S. marijuana […] Read more
Tough U.S. NAFTA demands send ball back into lobbyists’ court
Arlington, Va. | Reuters — Lobbying efforts on the North American Free Trade Agreement faced a major test this week after the Trump administration ignored advice from U.S. business groups and pitched proposals to radically reshape NAFTA, leaving its future in doubt. The U.S. demands to force renegotiation of NAFTA every five years and reserve […] Read more
U.S. stance on autos sows more doubt about NAFTA overhaul
Arlington, Va. | Reuters — The Trump administration on Friday demanded that U.S.-made content account for half the value of the cars and trucks sold under the North American Free Trade Agreement, raising further doubts about any potential deal to renew the pact. Three sources briefed on the protectionist U.S. proposal, which is in line […] Read more
U.S. hikes NAFTA tension with call for ‘sunset clause’
Arlington, Va. | Reuters — Washington has dramatically increased tensions in talks to renew the North American Free Trade Agreement by proposing that the lifespan of any new deal be limited to five years, people familiar with the negotiations said on Thursday. The proposal for a so-called sunset clause — just one of a series […] Read more
Cyber-Savvy Farmer
