Ontario’s deficit expected to jump half a billion higher than Spring prediction; CRA cracking down on tax evasion
Ontario financial watchdog predicts five years of deficit growth
Ontario’s deficit expectation is now half a billion higher than originally predicted.
The Financial Accountability Officer suggests the 2018 deficit will end up at $12.3 billion, citing the cancellation of cap and trade, tax cuts and economic problems as the main factors. And if there aren’t any changes made by the Ford Government, that deficit will rise to $16 billion by 2023.
Tax cheaters can expect harsh treatment from the CRA
Canadians charged with tax evasion will be treated the same as money launderers and terrorists.
For the first time the CRA will start freezing the assets of accused tax cheaters. This means the agency can also take control of properties in and out of the country. Officials say this is a message that tax evasion will no longer be tolerated.
Ottawa-commissioned study calls for more focus on Winter tourism
A new report suggests more focus on winter tourism in Canada could create more employment.
The study commissioned by Ottawa suggests 180,000 could be a result of Canada getting more creative about how it advertises winter opportunities. The report also found Chinese visitors have made up a major part of tourism growth in the last year.