Transportation and Public Works Minister Angus MacIsaac told his federal counterpart, Transport Canada Minister Lawrence Cannon, this week that he is ready to talk about how the province can take advantage of the infrastructure-related funding programs announced in the recent federal budget. Nova Scotia’s entitlement under the programs is expected to total several hundred million dollars over the next seven years. The programs include the Building Canada Program, the Gateways and Border Crossings Fund, the Equal Per Jurisdiction Funding Program and the P3 Projects Fund. Canadian provinces and territories have lobbied the government of Canada for long-term, stable and predictable infrastructure funding for many years. “Up until the recent federal budget, these appeals had fallen on deaf ears,” said Mr. MacIsaac. “These new funding programs will go a long way toward enabling Nova Scotia to achieve its full potential as an international transportation gateway, and facilitating much needed improvements to the province’s highway infrastructure.” Mr. MacIsaac said, “The province is looking forward to learning more about program parameters and to being able to put in place the agreements and protocols necessary to allow cost-shared projects to proceed as quickly as possible.” Mr. MacIsaac thanked Mr. Cannon for intervening on behalf of provinces and territories in the course of the deliberations leading up to the federal budget.
Time to prune the losers from your portfolio, investment advisers suggest by Craig Wong, The Canadian Press Posted Dec 2, 2015 12:20 pm MDT Last Updated Dec 2, 2015 at 2:20 pm MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email OTTAWA – With the Toronto stock market down about seven per cent this year and some sectors down even more, chances are you have a loser or two in your portfolio.Investment advisers say now is the time to consider selling them and taking your losses to offset any gains you might have in other stocks and reduce the taxes you owe.Portfolio manager Cynthia Caskey at TD Wealth Private Investment Advice says investors may be licking their wounds in many cases after the rough ride for stocks this year.“This is a way to have a silver lining to offset some taxes,” she said.Tax-loss selling means crystallizing a loss so that you can offset a capital gain and reduce the amount of tax owing. The loss then can be used against capital gains going back three years or carried forward for future use.If the investment is only down a little and you think it may come back, Caskey says this probably isn’t the strategy for you. But if your investment has taken a significant hit and is unlikely to bounce back, then selling for tax purposes is something you will want to consider.The strategy cannot be used for investments held within accounts like RRSPs or TFSAs, which do not face the same taxes as non-registered investments.To take advantage of a loss, the sale has to settle by the end of the year. That means this year, for Canadian stocks, you will need to sell your shares by Christmas Eve to have it completed by New Year’s Eve. For U.S stocks, the deadline is Dec. 28.You are also not allowed to repurchase the security you’re selling within 30 days. Otherwise it will be ruled a superficial loss and not permitted under the tax rules.However, you could look to buy shares in a similar company or an ETF to maintain exposure to the sector if you still believe in your original investment.For example, if you have an energy stock with a big loss, you could sell it and use the cash to buy an ETF with similar exposure to the price of oil if you think energy prices are going to bounce back.“It won’t mirror it exactly because it is a different security and has different fundamentals, but at least you’d be able to participate in any sort of movement,” Caskey said.For foreign stocks, it is important to remember that your loss is calculated in Canadian dollars.Jamie Golombek, managing director of tax and estate planning at CIBC Wealth Advisory Services, cautioned that even if an investment in a U.S. stock may have fallen, the drop in the loonie will boost your bottom line.“If you purchased securities in a foreign currency, the gain or loss may be larger or smaller than you anticipated once you take the foreign exchange component into account,” he said.“The recent decline in the value of the Canadian dollar may increase capital gains or decrease capital losses, or, in some cases, turn what looks like a loss into a gain.”Caskey said whatever you do, it needs to be done within the context of your portfolio, and that the tax considerations shouldn’t be the only factor in your decision.Like a garden, she said it is important to recognize where things are working and where they aren’t and make adjustments.“Sometimes you have to weed your garden. Sometimes things get overgrown and need to be cut back, similarly unexpected combinations that aren’t working so will need to be rearranged,” she said.
Tina Henrie (right) presents a donation to Scottie Draper from ETV News for the No Grave Goes Unadorned project.Many people have come to know Tina Henrie throughout the years through the local hospitality and tourism industry. Most recently, Henrie secured a spot as the face of the Carbon County Office of Tourism, serving as the specialist for the county.Throughout her career, Henrie has nurtured her love of people and meaningful relationships, which prompted her to create a business that she operates after her traditional workday is done.Over one year ago, Henrie began work as an Independent Scentsy Consultant. Early on, she knew she wanted to give back any chance that she could.“One important motto attached to Scentsy and its consultants is to ‘give back more than you take,’” Henrie said. “With this idea in mind, I am able to donate to groups or individuals that I feel strongly about.”In October, she donated over $200 to a local breast cancer resident who was traveling daily for treatments. Recently, she raised over $170 for the American Heart Association, a very personal fundraiser since her mother passed way a short time ago from heart disease. Her desire to give back has grown from there.“After reading an article online about the No Grave Goes Unadorned program, I knew I wanted to do something to help,” Henrie said. “I contacted Scottie Draper with ETV News and told her I wanted to do a fundraiser to help raise money for the program.”Each month, Henrie offers a personal special to her customers where they can get a personalized scent crate. With her recent scent crate, she donated 20% of her commissions to the No Grave Goes Unadorned program. She was able to raise $140 for the project, which will help purchase supplies to ensure each grave is adorned with a handmade flower this Memorial Day.Already looking to give back again, Henrie is currently organizing fundraiser to benefit Wellington Pioneer Days. If you or your organization are interested in a fundraiser and would like more information, please contact Tina Henrie at (435) 630-1670.
Inco and WWF-Canada have announced a new C$1 million agreement to advance a number of conservation initiatives, both in Canada and internationally. Under the terms of the agreement, Inco will contribute C$200,000 per year to WWF-Canada for the next five years in support of a three-pronged conservation programme with the following objectives: 1) conserve species at risk of national and global importance in Canada; 2) develop a conservation stewardship approach for Inco in Canada; and 3) scope and explore work of a similar nature in areas where Inco operates internationally. Inco will continue to support WWF-Canada’s efforts to conserve globally important species-at-risk in Canada by investing in the Endangered Species Recovery Fund, a joint effort led by Environment Canada and WWF-Canada. A second component of the new programme will involve identifying species and habitats that have a high conservation value in the eco-regional neighbourhood of Inco operations and developing appropriate conservation strategies, beginning with Inco’s Ontario operations. Finally, Inco and WWF will work together to explore potential joint initiatives in appropriate international Inco locations. “We look forward to taking our long-standing relationship with WWF-Canada to a new level,” said Bill Napier, Inco Vice-President Environment, Safety and Health. “Among other benefits, we believe that their expertise will result in better conservation stewardship in the lands that adjoin our operations, not just in Canada but at our other locations around the world.” “We have a track record of engaging with companies to reduce their ecological footprint. WWF works with big industry, like mining and forestry, because it is vital to achieve our conservation goals,” said Arlin Hackman, Chief Conservation Officer for WWF-Canada. “Expanding our relationship with Inco is a logical and welcome next step for us both. We are excited about what we can accomplish together.” For the past two decades, Inco has supported WWF-Canada on a number of environment projects, including the Endangered Species Recovery Fund and the Manitoba Ecologically Sensitive Areas Project. In 2004, in an exercise sponsored by Corporate Knights magazine, the CEOs of Inco and WWF-Canada traded jobs for a day to gain a better understanding of one another’s organizations.