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Travel outside Canada could get complicated amid Omicron spread: experts – Global News
As Canada courts a steady rise in COVID-19 cases, federal health experts on Friday warned on the risks of travelling abroad amid the rapidly spreading Omicron variant.
“Things are happening very quickly outside of Canada. So if you think of travelling, that should be a serious alarm bell,” federal Health Minister Jean-Yves Duclos told reporters before the Public Health Agency of Canada (PHAC) presented new modelling projecting the trajectory of COVID-19 in Canada.
He also warned that Canadians returning home from abroad “should expect delays and hassles” at airports and urged vigilance to those wishing to go out of the country.
International travel ‘risky and unstable’
“You need to plan ahead, be prepared for airport delays, have a quarantine plan,” Duclos said. “You should also be prepared for officials to follow up with you to make sure your COVID testing is complete.”
In response to the detection of Omicron, Canada was quick to implement travel curbs to contain the spread of the variant. This included banning visitors who have recently travelled through 10 African countries.
So far, Canada has recorded 87 COVID-19 cases of the Omicron variant — nearly all of them asymptomatic or mild. Most of the initial cases recorded were linked to recent international travellers or their close contacts.
“The Omicron variant of concern is a cruel reminder that a global epidemiological situation can change quickly. We all need to be prepared for that as well,” Duclos said.
He also mentioned that in the near future, the government, as well as Canadians, may “need to change gears, adjust our plans or change our behaviour to meet the needs of the moment.”
For Canadians still wishing to travel beyond borders, he warned that “the situation abroad is both risky and unstable.”
Travelling within Canada
However, travelling within Canada might not be as inconvenient.
According to Canada’s chief medical officer, Dr. Theresa Tam, travelling within the country “at this point in time means that you are likely to have a much better experience than if you are heading into the international destinations.”
“If you haven’t booked any of these (international) trips, staying closer to home, I think, is definitely the better choice,” Tam told reporters during a press conference Friday.
For those that have already booked trips, “things can change rapidly in the international context,” the country’s top doctor warned.
At present, the federal government requires all passengers entering Canada, except those from the United States, to be tested upon arrival and isolate until they get their results.
However, Duclos acknowledged Friday that Canadian airports do not yet have the capacity to fully test all non-U.S. international arrivals. While he did not say when that would happen, he mentioned that current capacity has increased but remains limited.
As of Nov. 30, airports could administer 11,000 tests per day and that number has gone up to 17,000 a day, he said. Full capacity would be 23,000 daily tests.
Some provinces have increased the use of rapid tests in the face of rising COVID-19 case numbers. Ontario’s science advisory table said Thursday that rapid tests could be helpful tools in workplaces and schools, while Quebec announced test kits for kids.
Duclos also said Friday that provinces and territories have requested 35 million rapid tests and they will be delivered this month.
Meanwhile, as the government cautions against international travel, global travel agencies have warned of the impacts that could have on business.
‘Closing borders is not the answer’
In a joint statement released Friday, the American Society of Travel Advisors (ASTA), Association of South African Travel Agencies (ASATA), Association of Canadian Travel Agencies (ACTA), Caribbean Hotel and Tourism Association (CHTA), European Travel Agents’ and Tour Operators’ Associations (ECTAA) and World Travel Agents Associations Alliance (WTAAA) collectively agreed that “closing borders is not the answer.”
“The addition of new border measures has significant economic impacts on travel and tourism businesses that may not add additional community protection,” the statement said.
“It is critical that government policy is guided by science, not political pressure or the desire to be seen as ‘doing something’ since these measures have significant, sometimes irreversible impact on businesses and jobs.”
The federal government has not yet formally advised Canadians to avoid foreign travel. But, Duclos maintained Friday, “that could come.”
— with files from The Canadian Press and Reuters
© 2021 Global News, a division of Corus Entertainment Inc.
News
Canada Child Benefit payment on Friday | CTV News – CTV News Toronto
More money will land in the pockets of Canadian families on Friday for the latest Canada Child Benefit (CCB) installment.
The federal government program helps low and middle-income families struggling with the soaring cost of raising a child.
Canadian citizens, permanent residents, or refugees who are the primary caregivers for children under 18 years old are eligible for the program, introduced in 2016.
The non-taxable monthly payments are based on a family’s net income and how many children they have. Families that have an adjusted net income under $34,863 will receive the maximum amount per child.
For a child under six years old, an applicant can annually receive up to $7,437 per child, and up to $6,275 per child for kids between the ages of six through 17.
That translates to up to $619.75 per month for the younger cohort and $522.91 per month for the older group.
The benefit is recalculated every July and most recently increased 6.3 per cent in order to adjust to the rate of inflation, and cost of living.
To apply, an applicant can submit through a child’s birth registration, complete an online form or mail in an application to a tax centre.
The next payment date will take place on May 17.
News
Capital gains tax change draws ire from some Canadian entrepreneurs worried it will worsen brain drain – CBC.ca
A chorus of Canadian entrepreneurs and investors is blasting the federal government’s budget for expanding a tax on the rich. They say it will lead to brain drain and further degrade Canada’s already poor productivity.
In the 2024 budget unveiled Tuesday, Finance Minister Chrystia Freeland said the government would increase the inclusion rate of the capital gains tax from 50 per cent to 67 per cent for businesses and trusts, generating an estimated $19 billion in new revenue.
Capital gains are the profits that individuals or businesses make from selling an asset — like a stock or a second home. Individuals are subject to the new changes on any profits over $250,000.
The government estimates that the changes would impact 40,000 individuals (or 0.13 per cent of Canadians in any given year) and 307,000 companies in Canada.
However, some members of the business community say that expanding the taxable amount will devastate productivity, investment and entrepreneurship in Canada, and might even compel some of the country’s talent and startups to take their business elsewhere.
Benjamin Bergen, president of the Council of Canadian Innovators (CCI), said the capital gains tax has overshadowed parts of the federal budget that the business community would otherwise be excited about.
“There were definitely some other stars in the budget that were interesting,” he said. “However, the … capital gains piece really is the sun, and it’s daylight. So this is really the only thing that innovators can see.”
The CCI has written and is circulating an open letter signed by more than 1,000 people in the Canadian business community to Trudeau’s government asking it to scrap the tax change.
Shopify CEO Tobi Lütke and president Harley Finkelstein also weighed in on the proposed hike on X, formerly known as Twitter.
We need to be doing everything we can to turn Canada into the best place for entrepreneurs to build 🇨🇦<br><br>What’s proposed in the federal budget will do the complete opposite. Innovators and entrepreneurs will suffer and their success will be penalized — this is not a wealth tax,…
—@harleyf
Former finance minister Bill Morneau said his successor’s budget disincentivizes businesses from investing in the country’s innovation sector: “It’s probably very troubling for many investors.”
Canada’s productivity — a measure that compares economic output to hours worked — has been relatively poor for decades. It underperforms against the OECD average and against several other G7 countries, including the U.S., Germany, U.K. and Japan, on the measure.
Bank of Canada senior deputy governor Carolyn Rogers sounded the alarm on Canada’s lagging productivity in a speech last month, saying the country’s need to increase the rate had reached emergency levels, following one of the weakest years for the economy in recent memory.
The government said it was proposing the tax change to make life more affordable for younger generations and fund efforts to boost housing supply — and that it would support productivity growth.
A challenge for investors, founders and workers
The change could have a chilling effect for several reasons, with companies already struggling to access funding in a high interest rate environment, said Bergen.
He questioned whether investors will want to fund Canadian companies if the government’s taxation policies make it difficult for those firms to grow — and whether founders might just pack up.
The expanded inclusion rate “is just one of the other potential concerns that firms are going to have as they’re looking to grow their companies.”
He said the rejigged tax is also an affront to high-skilled workers from low-innovation sectors who might have taken the risk of joining a startup for the opportunity, even taking a lower wage on the chance that a firm’s stock options grow in value.
But Lindsay Tedds, an associate economics professor at the University of Calgary, said the tax change is one of the most misunderstood parts of the federal budget — and that its impact on the country’s talent has been overstated.
“This is not a major innovation-biting tax change treatment,” Tedds said. “In fact, when you talk to real grassroots entrepreneurs that are setting up businesses, tax rates do not come into their decision.”
As for productivity, Tedds said Canadians might see improvements in the long run “to the degree that some of our productivity problems are driven by stresses like housing affordability, access to child care, things like that.”
‘One foot on the gas, one foot on the brake’
Some say the government is sending mixed messages to entrepreneurs by touting tailored tax breaks — like the Canada Entrepreneurs’ Incentive, which reduces the capital gains inclusion rate to 33 per cent on a lifetime maximum of $2 million — while introducing measures they say would dampen investment and innovation.
“They seem to have one foot on the gas, one foot on the brake on the very same file,” said Dan Kelly, president of the Canadian Federation of Independent Business.
A founder may be able to sell their successful company with a lower capital gains treatment than otherwise possible, he said.
“At the same time, though, big chunks of it may be subject to a higher rate of capital gains inclusion.”
Selling a company can fund an individual’s retirement, he said, which is why it’s one of the first things founders consider when they think about capital gains.
Mainstreet NS7:03Ottawa is proposing a hike to capital gains tax. What does that mean?
Dennis Darby, president and CEO of Canadian Manufacturers & Exporters, says he was disappointed by the change — and that it sends the wrong message to Canadian industries like his own.
He wants to see the government commit to more tax credit proposals like the Canada Carbon Rebate for Small Businesses, which he said would incentivize business owners to stay and help make Canada competitive with the U.S.
“We’ve had a lot of difficulties attracting investment over the years. I don’t think this will make it any better.”
Tech titan says change will only impact richest of the rich
Toronto tech entrepreneur Ali Asaria will be one of those subject to the expanded capital gains inclusion rate — but he says it’s only fair.
“It’s going to really affect the richest of the rich people,” Asaria, CEO of open source platform Transformer Lab and founder of well.ca, told CBC News.
“The capital gains exemption is probably the largest tax break that I’ve ever received in my life,” he said. “So I know a lot about what that benefit can look like, but I’ve also always felt like it was probably one of the most unfair parts of the tax code today.”
While Asaria said Canada needs to continue encouraging talent to take risks and build companies in the country, taxation policies aren’t the most major problem.
“I think that the biggest central issue to the reason why people will leave Canada is bigger issues, like housing,” he said.
“How do we make it easier to live in Canada so that we can all invest in ourselves and invest in our companies? That’s a more important question than, ‘How do we help the top 0.13 per cent of Canadians make more money?'”
News
Canada Child Benefit payment on Friday | CTV News – CTV News Toronto
More money will land in the pockets of Canadian families on Friday for the latest Canada Child Benefit (CCB) installment.
The federal government program helps low and middle-income families struggling with the soaring cost of raising a child.
Canadian citizens, permanent residents, or refugees who are the primary caregivers for children under 18 years old are eligible for the program, introduced in 2016.
The non-taxable monthly payments are based on a family’s net income and how many children they have. Families that have an adjusted net income under $34,863 will receive the maximum amount per child.
For a child under six years old, an applicant can annually receive up to $7,437 per child, and up to $6,275 per child for kids between the ages of six through 17.
That translates to up to $619.75 per month for the younger cohort and $522.91 per month for the older group.
The benefit is recalculated every July and most recently increased 6.3 per cent in order to adjust to the rate of inflation, and cost of living.
To apply, an applicant can submit through a child’s birth registration, complete an online form or mail in an application to a tax centre.
The next payment date will take place on May 17.
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