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10-Jun-2017 19:53

The Senate Committee is also issuing a recommendation to proceed with an in-depth review of the country's tax system.

BMR Matco Sainte Catherine has begun a .8 million renovation which is expected to be completed by spring 2018.

In the natural resource-intensive provinces of Alberta, Saskatchewan, and Newfoundland and Labrador, sales activity is still running at lower levels and supply remains ample.

Driven by sales trends in the Greater Golden Horseshoe, Ontario home sales have rebounded from the depths reached in the summer, but remain well below the peak reached earlier this year.

Meanwhile, sales activity in British Columbia has improved.

Supported by rising activity in the Fraser Valley and on Vancouver Island, sales for the province are currently running about midway between the record levels of early 2016 and the lows reached in late 2016.

That's far from enough time for businesses to adapt," says Dan Kelly, president of the Canadian Federation of Independent Business.

"We continue to urge the government to slow down and to listen to the recommendations from the Senate Committee on National Finance." The Senate Standing Committee on National Finance issued a report that recommends the government withdraw the proposed changes to the taxation of private corporations in Canada, or barring that, to push back their application to 2019.

Under this proposed legislation targeting private corporations, the total tax burden would increase and tax compliance would become more complex, which could result in Canada's ranking decline in the coming years.