The Tarriff Hype.
- Thread starter petros
- Start date
Really ? We are still in a trading war with the U.S. and are trying to solidify our trading relationship with a breaking EU . Parliment is still not sitting , we have still not seen a budget but are continuing to grow the deficit . No headway with inter provincial trade barriers . Alberta and Saskatchewan still can’t get their oil to tidewater . Yup all those watered down conservative policies .
Should I go on ?
Hasn’t he ? How come our projected spending is forecast to exceed all Canadian budgets to this point ? And that is before the budget is even presented.
Last debt was 3.4B USD on Mar 31. But they were also asking for taxes since the day after.
18-K/A 1 d921394d18ka.htm 18-K/A
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 18-K/A
AMENDMENT NO. 2
For Foreign Governments and Political Subdivisions Thereof
ANNUAL REPORT
of
CANADA
(Name of Registrant)
Date of end of last fiscal year: March 31, 2024
SECURITIES REGISTERED*
(As of the close of the fiscal year)
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 18-K/A
AMENDMENT NO. 2
For Foreign Governments and Political Subdivisions Thereof
ANNUAL REPORT
of
CANADA
(Name of Registrant)
Date of end of last fiscal year: March 31, 2024
SECURITIES REGISTERED*
(As of the close of the fiscal year)
Time of Issue | Amounts as to which registration is effective | Name of exchanges on which registered | ||
N/A | N/A | N/A |
Name and address of person authorized to receive notices
and communications from the Securities and Exchange Commission:
PAUL HUYNH
Counsellor (Finance)
Canadian Embassy
501 Pennsylvania Avenue, N.W.
Washington, D.C. 20001
Copies to:
and communications from the Securities and Exchange Commission:
PAUL HUYNH
Counsellor (Finance)
Canadian Embassy
501 Pennsylvania Avenue, N.W.
Washington, D.C. 20001
Copies to:
MATTHEW EMDE | YVES POIRIER | PAUL E. DENARO | ||
Director General | Consul | Milbank LLP | ||
Funds Management Division | Consulate General of Canada | 55 Hudson Yards | ||
Department of Finance, Canada | 466 Lexington Avenue | New York, NY 10001 | ||
13th Floor, 90 Elgin Street | 20th Floor | |||
Ottawa, Ontario K1A 0G5 | New York, NY 10017 |
* The Registrant is filing this amendment to its annual report on a voluntary basis.
This amendment to Canada’s Annual Report on Form 18-K for the year ending March 31, 2024 is being filed to include as an exhibit to such form the Opinion and Consent of General Counsel, Finance Legal Services, Department of Justice (Canada) prepared in connection with the offering of U.S. $3,500,000,000 aggregate principal amount of Canada’s 4.000% United States Dollar Bonds due March 18, 2030 (the “bonds”) described in Canada’s prospectus supplement dated March 11, 2025 (the “prospectus supplement”) to its prospectus dated February 27, 2025 (the “prospectus”) relating to bonds registered on Registration Statement No. 333-283961.
That portion of the bonds offered by the prospectus supplement and prospectus sold or to be sold in the United States or in circumstances where registration of the bonds is required has been registered under registration statement no. 333-283961. Such portion is not expected to exceed an aggregate principal amount of U.S. $895,000,000. Following the completion of the offering of the bonds offered by the prospectus supplement and the prospectus, an aggregate of U.S. $7,105,000,000 will remain registered on registration statement no. 333-283961.
The exhibits to Canada’s Annual Report on Form 18-K for the year ended March 31, 2024, are hereby amended to include the following:
Exhibit E: Opinion and Consent of General Counsel, Finance Legal Services, Department of Justice (Canada)
It is estimated that the expenses of Canada in connection with the sale of the bonds will be as follows:
That portion of the bonds offered by the prospectus supplement and prospectus sold or to be sold in the United States or in circumstances where registration of the bonds is required has been registered under registration statement no. 333-283961. Such portion is not expected to exceed an aggregate principal amount of U.S. $895,000,000. Following the completion of the offering of the bonds offered by the prospectus supplement and the prospectus, an aggregate of U.S. $7,105,000,000 will remain registered on registration statement no. 333-283961.
The exhibits to Canada’s Annual Report on Form 18-K for the year ended March 31, 2024, are hereby amended to include the following:
Exhibit E: Opinion and Consent of General Counsel, Finance Legal Services, Department of Justice (Canada)
It is estimated that the expenses of Canada in connection with the sale of the bonds will be as follows:
| Filing Fee(1) | U.S. $ | 83,112.00 | ||
| Legal | 100,000.00 | |||
| Miscellaneous Expenses | 16,888.00 | |||
| U.S. $ | 200,000 | |||
UNITED STATES
Aside from the Supply Management (it’s a Quebec thing) and the digital services tax, I wonder what he could possibly be talking about???
He did yesterday when he declared supply side management is sacrosanct. But he did cave like a sand mine over the Digital Services Act.
Finance Minister will have to wear flip flops when he delivers the new budget. The Digital Services was a big one to kill
What did we gain in kind? Massive Amazon, Meta and Google server farms that love the cold and a steady flow of "green" hydro until they build their own reactors.
Much better than taxing them.
We gained a little bit of freedom from government overreach. Taxation was only part of the bill.
With a bit of luck, Trump will do the same thing for Supply Side Management.
Tasha Kheiriddin: Carney will have no choice but to kill supply management — National Post
A trade deal with Trump demands it
The tax, enacted a year ago via an order-in-council, was part of the Trudeau Liberal’s election platform since at least 2019.
The law required non-Canadian digital services with annual incomes over $1.1 billion to pay a 3% levy on all revenues from Canadian users exceeding $20 million.
Monday was supposed to be the first due date for companies to pay up — a retroactive payment for revenues collected since 2022, potentially representing a $2-billion boost for government coffers.
Canada’s insistence on a digital services tax, Geist said, wasn’t based on levelling the playing field for Canadian tech companies.
“I don’t think it’s anything more than there’s a lot of money at stake,” he said.
“In many ways it is far larger than some of the other policy-focused attempts to extract money from tech companies, whether that was on streaming, on news —we’re talking about hundreds of millions, potentially, rather than billions.”
Past attempts by the previous Liberal government to regulate the internet, the Online News Act for example, resulted in Canadians no longer able to post or access news stories on Meta platforms like Facebook and Instagram.
Carney’s about-face made Canada look weak and we obtained nothing in return other than a resumption of the talks.
That sent a message to Trump that his brinkmanship tactics work. A tactic he could use again when it comes to the bigger issue of Canada’s supply management system for dairy, poultry and eggs, which the U.S. president has targeted for years.
The DST was always going to hit more than just foreign tech giants. It was a tax on digital tools that Canadians rely on every day—advertising platforms, e-commerce services, and software used by small businesses to run efficiently. The cost would have landed squarely on consumers and entrepreneurs.
While it was packaged as a fairness measure, it risked retaliation from the United States and threatened to escalate into a full-blown trade dispute. It never made economic sense.
KLEIN: Carney was right to scrap the Digital Services Tax — now let’s learn from it — Winnipeg Sun
On Sunday night, the Carney government made the right call. It rescinded the Digital Services Tax (DST) — a 3% levy on revenue earned by digital companies offering services to Canadians. That decision deserves recognition. It was smart, timely, and sends a message that Canada might still be...
Just curious. . . is there anything wrong with this tax? Conceptually, I mean. Not whatever weeping and wailing Khanservatives want to do about taxes.
Basically, it was a time bomb, introduced by the liberals when they thought there was no possible way they could win this last election… going back retroactive for the last few years and being introduced on July 4th…seriously, July 4th, so that…Poilievre (little did they know) would have to cancel it, and the Libs could scream foul. That’s the short version & it’s in this ball of wax:
Bill’s C-10 & C-11. If we aren’t talking about it already, shouldn’t we be?
This whole Bill needs to go into the trash! Do we not already have laws on the books for protecting children, hate crimes et al? If they need to be amended, then do so but the rest can be garbaged. People without children are pushing this.
forums.canadiancontent.net
OK, thanks. One more question. . .
is there anything wrong with this tax? Conceptually, I mean. Not whatever weeping and wailing Khanservatives want to do about taxes.
I'm perfectly willing to discuss how the Libs are evil, conniving bastards who have only been restrained from destroying Canada by their own incompetence.
But first. . .
is there anything wrong with this tax? Conceptually, I mean. Not whatever weeping and wailing Khanservatives want to do about taxes.
I'm perfectly willing to discuss how the Libs are evil, conniving bastards who have only been restrained from destroying Canada by their own incompetence.
But first. . .
It's like the law from the early 60s that made US companies set up Canadian subsidiaries with head offices in Canada Canadian factories and shares of the Canadian subsidiaries bought and sold on the TSX.Basically, it was a time bomb, introduced by the liberals when they thought there was no possible way they could win this last election… going back retroactive for the last few years and being introduced on July 4th…seriously, July 4th, so that…Poilievre (little did they know) would have to cancel it, and the Libs could scream foul. That’s the short version & it’s in this ball of wax:
Despite the plan being announced more than three years ago, the digital services tax was only recently implemented on July 4th ‘cuz knowing how to read the room, etc... In August, U.S. Trade Representative Katherine Tai announced that her government had requested dispute settlement consultations through the North American free trade agreement — called CUSMA — over the issue.Bill’s C-10 & C-11. If we aren’t talking about it already, shouldn’t we be?
This whole Bill needs to go into the trash! Do we not already have laws on the books for protecting children, hate crimes et al? If they need to be amended, then do so but the rest can be garbaged. People without children are pushing this.
Auto makers stand out as an example of.
It's just another protectionist load of BS.