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Canada Income Tax
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August budget surplus surges (Reuters via Yahoo! News)
Canada ran a budget surplus of C$911 million ($949 million) in August, almost double that of the same month last year, due to higher revenue from sales and corporate-income taxes, the Department of Finance said on Friday. Canada's Dollar Approaches Record High as Commodity Prices Rise (Bloomberg.com)
Oct. 25 (Bloomberg) -- Canada's dollar approached a record high set in 1974 as demand for commodities increased and the U.S. dollar weakened against most major currencies. ConocoPhillips reports third-quarter net income of $3.7 billion or $2.23 per diluted share (Bartlesville Examiner-Enterprise)
HOUSTON, October 24, 2007 — ConocoPhillips [NYSE:COP] today reported third-quarter net income of $3,673 million, or $2.23 per share. This compares with $3,876 million, or $2.31 per share, for the same quarter in 2006. Revenues were $46.1 billion, versus $48.1 billion a year ago. TAX-NEWS.COM (Tax-News.com)
The Canada Revenue Agency (CRA) has issued a reminder to Canadians that the tax laws that apply to traditional commerce also apply to electronic commerce. Petro-Canada to continue two oilsands projects (CTV.ca)
Petro-Canada will continue preliminary engineering work on $15 billion worth of new oilsands projects, the company announced in the wake of an announced hike in Alberta energy royalties. Tim Hortons Inc. Announces Third Quarter Net Income of $67.4 Million (Business Wire via Yahoo! Finance)
OAKVILLE, Ontario----Tim Hortons Inc. : Financial & Sales Highlights ---------------------------- ----------------------------------------------------------------- September 30, October 1, Third Quarter Ended 2007 2006 % Change ----------------------------------------------------------------- Revenues $ 490.5 $ 413.6 18.6% Operating Income $ 108.3 $ 91.3 18.7% Effective Tax Rate 35.2% 41.0% n/a ... Economists tell Flaherty to cut taxes, but GST cut not a priority (The Canadian Press via Yahoo! Canada News)
OTTAWA - Canada's leading economists have told Finance Minister Jim Flaherty to move smartly on broad-based personal and corporate tax cuts, but that the government's favourite hobby horse - a GST cut - was not a priority.
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