Builder to break ground on Colwood City Centre development
Filed Under Main Content · Tagged: 1 Billion, Break, Centre Development, Colwood, Developer, Financial Markets, Gant, Ground Breaking, Html Builder, Odd Timing, Turmoil
With financial markets in turmoil, it may seem odd timing for a developer to be preparing a site for ground breaking, but Adam Gant says the timing is right for the $1-billion Colwood City Centre development to start coming out of the ground.
Builder to break ground on Colwood City Centre development
Ottawa changes GST rules, setting up finance battle
Filed Under Main Content · Tagged: 1 Billion, Amendments, Car Buyer, Car Dealer, Commissions, Consultations, Drawing Board, Finance Department, Globe And Mail, Globe Mail, Goods And Services Tax, Gst Rules, Insurance Advisers, Insurance Brokers, Investment Companies, Mortgage Brokers, Mutual Fund Dealers, Ottawa, Tax Exemption, Telemarketers
Globe and Mail- Ottawa has quietly moved to tax some financial services, setting up a fight the sector says will cost more than $1-billion a year.
The government has changed the rules on a goods and services tax exemption in a way that the industry says applies GST for the first time to a number of financial services offered by, for example, mortgage brokers and insurance advisers. The industry says the costs will be passed on to consumers. Banks, insurers, mortgage and insurance brokers, and investment companies are urging the Finance Department to retract its amendments and hold broad consultations before going back to the drawing board.
At issue is the definition of “financial service” in the tax laws. Such services are generally exempt from GST but Ottawa has changed the definition so that many activities that “facilitate” or “prepare” financial services are now subject to tax. The industry says Ottawa hasn’t clarified how broadly the rules will apply but it appears that many services offered by brokers and advisers are newly taxable, including, for example, trailer commissions paid to mutual fund dealers, commissions paid to a car dealer to arrange credit for a car buyer, and some work telemarketers do for insurers…
Ottawa changes GST rules, setting up finance battle – The Globe and Mail
Mortgage demand drives bonds
Filed Under Main Content · Tagged: 1 Billion, Bmo Capital Markets, Canada Bonds, Canada Mortgage And Housing, Canada Mortgage And Housing Corp, Canadian Marketplace, Capital Bonds, Capital Mortgage, Cmt, Housing Trust, Industry Buzz, Issuance, Landscape, Media Headlines, Mortgage Bonds, Rbc Capital Markets, Runners, Td Securities
Financial Post- They were the biggest issuance in the Canadian marketplace last year. But there were no media headlines or industry buzz. The tried-and-true Canada Mortgage Bonds (CMB) churned out through a trust set up by the Canada Mortgage and Housing Corp. have been so much part of the landscape that their growth goes almost unnoticed.
But grow they did. In 2009, the Canada Housing Trust (CMT ) issued $47-billion worth of bonds. When the product was first launched in 2001 its first offering was for $2.1-billion. CIBC were the top book-runners for these bonds — selling $6.4-billion. They were followed by TD Securities, RBC Capital Markets and BMO Capital Markets…
