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How much is capital gains tax in Canada?—and other questions answered May 6th
The 2024 federal budget proposed changes to how capital gains are taxed for Canadians. Certain taxpayers will now be subject to a two-thirds inclusion rate instead of one-half on part or all of their capital gains.
The capital gains inclusion rate refers to how much of a capital gain is inc.... More »
CIBC breaking ties with PC Financial + MORE Aug 16th
TORONTO — CIBC is launching a new direct banking brand that will absorb some two million customer accounts currently with Loblaw-owned President’s Choice Financial.
Toronto-based CIBC (TSX:CM) has provided the back-end banking services for PC Financial for nearly 20 years but the companies s.... More »
Weekend Reading – Evil index funds, housing affordability, #MyMakeItHappen and #money stuff Aug 12th
Save, invest, prosper with My Own Advisor.
Weekend Reading Welcome to my latest Weekend Reading edition. I hope you had a great week. Here are my articles from this week: My latest dividend income update. Check out my review and book giveaway: The Ten Roads to Riches. Enjoy these articles I foun.... More »
Simplii and Diljit Dosanjh team up on eve of Dil-Luminati tour Feb 24th
Simplii and Diljit Dosanjh, a world-renowned Punjabi singer and actor, are joining forces to underscore the Canadian alternative financial institution’s focus on newcomers.
Fresh off an appearance at Coachella, the Diljit Dosanjh Canada tour starts in Vancouver on April 27, 2024 at BC Pla.... More »
Nvidia’s earnings: Blackwell AI chips play into (another) stock price rise + MORE Nov 21st
Nvidia on Wednesday reported a surge in third-quarter profit and sales as demand for its specialized computer chips that power artificial intelligence systems remains robust. For the three months that ended Oct. 27, the tech giant based in Santa Clara, California, posted revenue of $35.08 billion, u.... More »
Citgo Aruba to invest $450M to $650M to reopen idle refinery
– canadianbusiness.com
SAN JUAN, Puerto Rico – Citgo Aruba announced Saturday it will invest $450 million to $650 million to reactivate an oil refinery in Aruba that has been idle since 2012.
The company said Saturday in a statement that the facility in San Nicolas will be retrofitted over the next 18 to 24 months. The refinery is expected to process up to 209,000 barrels per day of Venezuelan extra-heavy crude into intermediate crude. It will then send the oil to its U.S. refining network for further processing.
Citgo has a 15-year operational lease with a 10-year extension option under the agreement between the Aruban government and the U.S.-based subsidiary of Venezuelan state oil company PDVSA. Officials signed the deal during a ceremony in Caracas on Friday.
“This is a very strong project from both the technical and financial perspective. It is a strategic partnership that will benefit Citgo Aruba, PDVSA, Venezuela and Aruba,” said Citgo Petroleum Corp. President and CEO Nelson P. Martinez…
The company said Saturday in a statement that the facility in San Nicolas will be retrofitted over the next 18 to 24 months. The refinery is expected to process up to 209,000 barrels per day of Venezuelan extra-heavy crude into intermediate crude. It will then send the oil to its U.S. refining network for further processing.
Citgo has a 15-year operational lease with a 10-year extension option under the agreement between the Aruban government and the U.S.-based subsidiary of Venezuelan state oil company PDVSA. Officials signed the deal during a ceremony in Caracas on Friday.
“This is a very strong project from both the technical and financial perspective. It is a strategic partnership that will benefit Citgo Aruba, PDVSA, Venezuela and Aruba,” said Citgo Petroleum Corp. President and CEO Nelson P. Martinez…
OTTAWA – Co-operative housing providers are being given a multi-million-dollar financial boost by the federal government to help thousands of low-income tenants stay in their homes.
The minister in charge of the federal housing file says co-ops will be able to pay off the federally backed, high-interest mortgages they signed decades ago with no penalty.
Social Development Minister Jean-Yves Duclos says the government will provide $150 million over four years to federally funded co-ops and non-profit housing providers to help them pay off their federal loans, allowing them a chance to test the private market for mortgages at vastly reduced rates.
For a place like Winnipeg’s Village Canadien, the move will save the co-op about $50,000 a month in interest payments.
The previous Conservatives government promised the money in the 2015 budget, but deferred the spending until this year.
Duclos, in a speech Saturday to co-op housing providers in Hamilton, said the funding should reduce their expenses, let them use private capital to finance repairs and become self-sustaining and not reliant on federal funding to keep operations afloat…
The minister in charge of the federal housing file says co-ops will be able to pay off the federally backed, high-interest mortgages they signed decades ago with no penalty.
Social Development Minister Jean-Yves Duclos says the government will provide $150 million over four years to federally funded co-ops and non-profit housing providers to help them pay off their federal loans, allowing them a chance to test the private market for mortgages at vastly reduced rates.
For a place like Winnipeg’s Village Canadien, the move will save the co-op about $50,000 a month in interest payments.
The previous Conservatives government promised the money in the 2015 budget, but deferred the spending until this year.
Duclos, in a speech Saturday to co-op housing providers in Hamilton, said the funding should reduce their expenses, let them use private capital to finance repairs and become self-sustaining and not reliant on federal funding to keep operations afloat…
