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Toronto real estate board raises concerns about possible vacancy tax
– canadianbusiness.com
TORONTO _ The Toronto Real Estate Board is urging the city to exercise caution regarding a possible vacant home tax.
The board says it’s worried there is not enough data or evidence to support the idea that a vacancy tax would increase the supply of rental housing.
It urged the City of Toronto to take a measured approach to help to avoid any unintended consequences for the housing market and property owners.
The board also raised the issue of private property rights and the administrative challenges.
The Ontario government moved earlier this year to cool the Toronto housing market including the imposition to a foreign buyer tax and other changes.
The move followed the introduction of a tax on foreign homebuyers in the Vancouver region last year. The City of Vancouver also imposed a tax on vacant homes.
The post Toronto real estate board raises concerns about possible vacancy tax appeared first on Canadian Business – Your Source For Business News.
The board says it’s worried there is not enough data or evidence to support the idea that a vacancy tax would increase the supply of rental housing.
It urged the City of Toronto to take a measured approach to help to avoid any unintended consequences for the housing market and property owners.
The board also raised the issue of private property rights and the administrative challenges.
The Ontario government moved earlier this year to cool the Toronto housing market including the imposition to a foreign buyer tax and other changes.
The move followed the introduction of a tax on foreign homebuyers in the Vancouver region last year. The City of Vancouver also imposed a tax on vacant homes.
The post Toronto real estate board raises concerns about possible vacancy tax appeared first on Canadian Business – Your Source For Business News.
Canadians deserve financial advice from true professionals
– theglobeandmail.com
Despite multiple efforts, current regulations still fall short of ensuring the competence and integrity of all financial advisers operating across Canada
Canada should stop ‘subsidizing’ U.S. Internet giants, Péladeau says
– theglobeandmail.com
Quebecor chief calls for level playing field with Canadian players, saying regulatory policies exempt foreign firms from taxes, investment obligations
Toronto stock index lower, loonie falls
– canadianbusiness.com
TORONTO – The Toronto Stock Exchange’s main index shed 42.11 points in a broad-based retreat.
The S&P/TSX composite index closed at 15,474.12, with all but one subsector in the red.
On Wall Street, the markets were mixed. The Dow Jones industrial average retreated 11.77 points to 22,284.32. The S&P 500 index advanced 0.18 of a point to 2,496.84 and the Nasdaq composite index rose 9.57 points to 6,380.16.
The loonie was trading at an average price of 80.84 cents US, down 0.19 of a U.S. cent.
The November crude contract fell 34 cents to US$51.88 per barrel and the November natural gas contract rose 1.2 cents to US$3.00 per mmBTU.
The December gold contract lost US$9.80 to US$1,301.70 an ounce and the December copper contract declined about 1.9 cents to roughly US$2.92 a pound.
The post Toronto stock index lower, loonie falls appeared first on Canadian Business – Your Source For Business News.
The S&P/TSX composite index closed at 15,474.12, with all but one subsector in the red.
On Wall Street, the markets were mixed. The Dow Jones industrial average retreated 11.77 points to 22,284.32. The S&P 500 index advanced 0.18 of a point to 2,496.84 and the Nasdaq composite index rose 9.57 points to 6,380.16.
The loonie was trading at an average price of 80.84 cents US, down 0.19 of a U.S. cent.
The November crude contract fell 34 cents to US$51.88 per barrel and the November natural gas contract rose 1.2 cents to US$3.00 per mmBTU.
The December gold contract lost US$9.80 to US$1,301.70 an ounce and the December copper contract declined about 1.9 cents to roughly US$2.92 a pound.
The post Toronto stock index lower, loonie falls appeared first on Canadian Business – Your Source For Business News.
Freshii scales back growth plan for first year as public company, stock falls
– canadianbusiness.com
VANCOUVER _ Health-food eatery chain Freshii Inc.’s stock plummeted nearly 40 per cent Tuesday after the company scaled back its aggressive expansion plans.
“Today’s announcement is extremely disappointing to me,” said founder and CEO Matthew Corrin during a conference call with investors Monday evening.
After markets closed Monday, Freshii (TSX:FRII) announced its growth has been slower than expected, resulting in some store closures and a reduced target for net openings this year.
The Toronto-based company’s shares fell $3.20 or about 36 per cent to $5.66 by Tuesday afternoon.
Freshii’s revised outlook anticipates between 90 and 95 net new store openings in its 2017 financial year, down from 150 to 160 locations.
The company also scaled back its longer-term expansion targets, saying it now plans to open between 730 and 760 stores by the end of its 2019 financial year, rather than the 810 to 840 stores previously anticipated.
In its 2017 financial year, roughly 60 fewer restaurants will be opened partly because Freshii and department store Target ended their relationship, the company said…
“Today’s announcement is extremely disappointing to me,” said founder and CEO Matthew Corrin during a conference call with investors Monday evening.
After markets closed Monday, Freshii (TSX:FRII) announced its growth has been slower than expected, resulting in some store closures and a reduced target for net openings this year.
The Toronto-based company’s shares fell $3.20 or about 36 per cent to $5.66 by Tuesday afternoon.
Freshii’s revised outlook anticipates between 90 and 95 net new store openings in its 2017 financial year, down from 150 to 160 locations.
The company also scaled back its longer-term expansion targets, saying it now plans to open between 730 and 760 stores by the end of its 2019 financial year, rather than the 810 to 840 stores previously anticipated.
In its 2017 financial year, roughly 60 fewer restaurants will be opened partly because Freshii and department store Target ended their relationship, the company said…
