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Report on Small Business newsletter: PayPal Supplying CRA with information about Company accounts

PayPal ordered to provide CRA with information about company accounts

PayPal has been arranged to offer the Canada Revenue Agency with information regarding its business account holders.

The business says a Federal Court order requires it to provide information regarding business accounts that received or received a payment between Jan. 1, 2014, and Nov. 10, 2017.

It’s not required to offer information regarding customers who have private PayPal accounts.

Ottawa, Ontario proceed to create peace with little business. Is it enough? read more

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Goldman’s seven highest-conviction investing calls for 2018

In 2018, Goldman Sachs Group Inc. is doubling back on the international economy.

“Late-cycle optimism” is the main theme of the bank’s seven top trade theses, as outlined in a note Thursday by Francesco Garzarelli, co-head of international macro and markets.

Goldman’s stance is far from “America First.” In danger assets, its strategists favor emerging markets; in foreign market, commodity-linked currencies and the euro are favored.

By comparison, last year’s trade thoughts were dominated by concerns about the capacity of newly elected U.S. President Donald Trump to disrupt international trade. read more

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PayPal ordered to provide CRA with information about Company accounts

PayPal has been arranged to offer the Canada Revenue Agency with information regarding its business account holders, as taxation officers search for companies that don’t report their income.

The business says a Federal Court order requires it to provide information regarding business accounts that received or received a payment between Jan. 1, 2014, and Nov. 10, 2017.

It’s not required to offer information regarding customers who have private PayPal accounts.

Within an email statement to The Globe and Mail, the company stated: “We’ve informed affected customers and they can contact us if they have any questions. We also have shared information on the Help Centre to help them comprehend our reporting obligations. … read more

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Markets love tax cut hype, not the reality

Buy the rumour, sell the information.

The term may get tossed around a reasonable amount, but that is precisely what’s happened when previous presidents have implemented tax cuts. Case in point: The Samp;P 500 index’s response to virtually every tax-relief bill signed into law because president John F. Kennedy. Taking a look at the Samp;P 500’s performance throughout the year prior to previous tax cuts, the market returned more gain than during the year after the bill signing. read more

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Ottawa, Ontario proceed to create peace with little business. Is it enough?

The Ontario and federal Liberals are discovering that, once lost, the love of small-business owners is hard to win back.

But they are trying.

Ontario Finance Minister Charles Sousa declared Tuesday in his autumn fiscal update that the government will reduce the small-business tax rate by a percentage point, to 3.5 percent, on Jan. 1. Additionally, it will roll out $500-million in new programs for smaller businesses.

It’s no denying that this bundle of goodies comes as Ontario is poised to put in place the Fair Workplaces, Better Jobs Act (Bill 148), highlighted by a increase in the minimum wage to $15 an hour from $11.60, together with extensions to vacation, medical and parental leave. Business groups have warned that the legislation will place 185,000 jobs in danger. read more

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General Electric stock continues steep Dip as Investors pan CEO’s turnaround strategy

General Electric Co.’s stock plunge deepened because its top leaders failed to soothe shareholder concerns about the turnaround strategy for its embattled icon of American business.

Chief executive John Flannery acknowledged that it is “show-me time” for investors as the company seeks to show concrete results from the overhaul he summarized a day ago. In an interview Tuesday on CNBC, he said he was not surprised with the negative stock response after “we frustrated people with some difficult news,” including a dividend cut and a lesser 2018 earnings forecast. read more

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Among the world’s biggest funds is slashing its exposure to stocks

The California Public Employees’ Retirement System, the biggest U.S. pension fund, is contemplating more than doubling its bond allocation to decrease volatility and risk since the stock bull market approaches nine decades.

Calpers is considering a menu of choices for its fixed-income target which range from the current 19 percent to up to 44 percent, according to a demonstration for a board workshop in Sacramento on Monday. Equities could be cut to as little as 34 per cent from 50 per cent. Stocks were the best-performing asset category in financial 2017, returning nearly 20 percent. read more

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MLPs poised for year-end rebound, but it could be short-lived

Master limited partnerships (MLPs) have been beaten down in 2017, but conditions could be turning in their favor for a short term bounce by year-end.

An MLP is a limited partnership that is publicly traded and, as such, enjoys the advantages of paying no tax at the business level in addition to the liquidity that comes with being traded on a major stock market.

They generally deal in the manufacturing, processing, storage and transportation of commodities like petroleum and natural gas, making them sensitive to changes in the purchase price of the underlying commodity. A high dividend yield also makes them attractive in low interest rate environments. read more

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Report on Small Business newsletter: Small Companies hit by Building losses have limited options

Reeling from construction-related losses, Halifax small-business owners decry ‘legislative void’

The sail-shaped towers of Halifax’s Nova Centre will fill up with life. The sprawling, multiblock downtown office, hotel and convention-centre complex was created as a metaphor — sails, clear icons of Nova Scotia’s economic past, throw in glass on the skyline to direct its economic future.

Some of its neighboring companies, however, have given up on the future entirely. Since construction started in 2013, a coalition of neighborhood storefront owners have accused the Nova Centre development of cutting their annual earnings by roughly a third, losses which have so far prompted at least two to move into the city’s North End and two more to market their businesses altogether. read more

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