Whats New in Canada-Update on CA

[can_visa123]

Thanks Mayank for your committed input on this thread.

CAN123

 

[Lost World]

NO NEW UPDATES SINCE 26TH MARCH 2011!

YEAH KAISI KHAMOSHI HAI DOSTON!!!!

http://twitter.com/citimmcanada

 

[mayankpandya]

This is the effect of Govt. failure

Regards,
Mayank

NO NEW UPDATES SINCE 26TH MARCH 2011!

YEAH KAISI KHAMOSHI HAI DOSTON!!!!

http://twitter.com/citimmcanada

 

[mayankpandya]

Winnipeg housing market-Hot and happening

Canada, 6th April: The housing market of Winnipeg is not only hot but also the most affordable in Canada, findings of a latest report by RE/MAX reveal.

The report is based on the survey of nearly 19 big cities of Canada undertaken by a real estate services firm.

The biggest gains in terms of prices of houses were seen in Hamilton-Burlington with Vancouver following the route by making an increase of 8 percent year-to-date.

Other major gainers were Quebec, Winnipeg and Toronto respectively.

Big gains by Winnipeg housing market in selling prices and volume of home sales—

Findings of the survey show that the housing market of Winnipeg registered not only the fourth major gain (of seven percent)in terms of average selling prices but also made third largest hike(of 11 percent) in terms of home sales.

Nonetheless, the RE/MAX report reiterates that the average selling price in Winnipeg had been the fourth lowest (at $228,822) among the 19 Canadian cities included in the survey. Also, the monthly mortgage carrying costs were also recorded to be fourth lowest at $1,020.

Consumer confidence, housing costs in many Canadian cities rising -—

Majority of Canadian cities witnessed the trend of rising housing costs with nearly 70 percent of the cities included in the RE/MAX survey showing increase in average selling prices. Regional executive vice-president of RE/MAX, Western Canada, Elton Ash, said that with the entry of first-time buyers in the housing market, the mood is upbeat.

There is a continuous growth in the consumer confidence perfectly in tune with the economic performance leading to a blow on the fears regarding a secondary recession.

According to Executive Vice President of RE/MAX Ontario-Atlantic Canada, Michael Polzler, there is, undoubtedly, room for more growth even as first-time buyers, unfazed by changed lending rules and higher prices of houses, enter housing market.

Changing perception of first-time home buyers—

So, it’s not uncommon to see many first-time home buyers willing to sacrifice their preferences in terms of size, location or quality of homes in a bid to become home owners and that’s something different from the past generations, feels Polzler.

Although, affordability is still a cause of serious concern among the buyers, but they seem to be cutting back their expectations with regard to the location and size of the property. As a result, real-estate market in several Canadian cities is perking up, the firm maintained.

 

[mayankpandya]

Harper promises to recognize foreign credentials

Canada, 7th April: Canada Conservative Leader Stephen Harper has announced his plans of giving recognition to credentials of foreign-trained professionals in Canada.

This step is part of the efforts of his party to help newcomers in Canada get their credentials recognized in Canada at the earliest.

Giving details of the plan of the Conservative government, Jason Kenney, Calgary MP, stated in Vancouver that this is a major step forward towards what the people in Canada had been asking for quite long.

He was accompanied by Wai Young, a Vancouver South candidate who had lost in the 2008 elections by a small margin of 20 votes to Liberals’ Ujjal Dosanjh.

Young is quite familiar with the obstacles faced by new immigrants in Canada primarily due to the fact that her father, who after moving to Canada from China in 1965, had to struggle to get job in a Chinese restaurant.

Loans for paying registration fees, training, exams and other related upgrading costs--

Harper reiterated the voters that loans would be offered to new immigrants in Canada for funding of skills upgrading or skills training provided he wins election slated to be held on May 2 this year. This will be a small investment by the party for the secured future of immigrants in Canada and it will help in strengthening the nation’s future as well, Harper maintained at the news conference.

These loans will help new Canadians find jobs in accordance with their acquired skills/professional qualifications and their expertise, he added. Nearly 40 percent of immigrants in Canada in the age-group between 25-54 years are working on jobs that are not making best use of their expertise and qualifications, he clarified.

$50 million invested for improvising foreign-credential recognition system by conservative —

In the last two years, the Conservative government of Canada has made investments worth $50 million for improving the system of recognition of foreign credentials in the country, he added. In addition, the Conservative government had provided increased funding for training in French and English language. And this move has certainly been of great help to nearly thousands of foreign trained immigrants in Canada for getting employment in the nation, he asserted.

 

[mayankpandya]

Tories unlikely to bring radical changes in the Canada health care-Harper

Canada, 8th April: Stephen Harper has ruled out any radical changes to the health care system of Canada by the Tories and has pledged not to introduce any cuts that might make the system cash-starved.

Health care for all-asserts Harper--Prime Minister Stephen Harper, while addressing an election campaign north of Toronto this Wednesday acknowledged that the health care system of Canada has its own set of problems.

He was reacting to a latest research co-authored by David Dodge, a former governor of Bank of Canada, that terms the rising costs of health care in Canada as a spending disaster.

According to the study, health-care spending will continue to increase by 6.4 percent from 2012 till 2031 even as the aging Canadians require greater access to health care.

Harper refuted health care spending as a disease claiming that the nation has a universal health insurance system.

However, if his party is elected in the elections slated to be held in May this year, then Canadians will be extended health care services irrespective of the fact whether they can pay for health care services or not. And that’s exactly what his party has been favoring for the last ten years or so, he added.

Full co-operation with provincial health ministers and premiers--When asked whether his party intends to negotiate any new health care proposal with Canadian provinces, he reiterated for whole-hearted co-operation while refuting any plans for cutting their transfers.

He acknowledged that the health care system of Canada does have its problems adding that Conservatives are ready to face and make the system better. The approach is to cooperate with them and not to dictate them.

The aim is to make the health care system work in the best possible manner, he asserted. He stated that Canadians are not in favor of any radical changes.

Rather, they are in favor of maintaining the principles and improving the efficiency of the health care in Canada, Harper was quoted in French.

Under the Conservative government, there has been an annual increase of 6 percent in the government health funding to the provinces. The deal is slated to expire in the year 2014. If re-elected to power, Harper is going to re-negotiate a new health accord with Canadian provinces leading to setting up of transfer rates for the coming years.

 

[mayankpandya]

Tories promises loans to Immigrants willing to upgrade their skills

Harper have come up with the proposal of giving loans to the immigrants to upgrade their skills as according to the professional regulatory bodies.

Stephen Harper has promised, if he is re elected this election season, he would also work for the benefit for the betterment of immigrants. He has proposed that government would offer loans to the migrants to upgrade their skills and get a better job in the country.

It has been noticed recently that migrants are facing trouble in getting jobs of their particular profile and their interest. They are going through such problem because their credentials are not recognized by the by Professional Regulatory bodies of the country. Henceforth the jobs offered to them are of lower profiles as compared to the professional courses they have completed.

It has also been noticed that even if the migrants have completed studies with same level as of a countrymen, they don’t get jobs and salary as same as they get. This situation increases the gap between the standards of living among the migrants and the Canadians.

This serious was brought up by the government in the budget that opened up in the last month. Harper have seriously looked into the matter and promised that conservatives will offer loans to help immigrants who are willing to upgrade their skills according to the rules of professional regulatory bodies of the country.

They have promised to pay for their skill trainings they need to undergo and the other upgrading they require which are acceptable according to the norms of regulatory bodies.

The estimated cost for this measure is expected to be around $6million per annum. The cost is not supposed to be delayed if the budget is balanced.

According to the Tories, these loans will be very helpful to for current as well as the new migrants, who want to work in Canada, through this loan offered by the government they easily undergo their training session and will be able to find jobs of their interest and profile. Through this they will also be able to take full advantage of their experience and expertise.

The loans to be issued to the migrants are supposed to cover the expenses for the required training, its training materials, and the exams which are to be gone through, administration, the registration fees and all the other costs associated to the get foreign credential recognition.

Tories are full of hopes that this measure will help to open up their chances with the large population of migrants in Canada.

 

[mayankpandya]

Tax savings--Keeping the CRA away from your pockets

Canada, 8th April: Taxes are an integral part of our life. And with changing rules every now and then, can we, the Canadians, limit our tax exposure?

Yes, indeed, we can by following these simple yet indispensable ways listed below.

Save to buy, borrow for investing—Now days, almost each one of us does feel the need to go in for debt for something or the other. And, the fact is that debt really helps us in cutting of our taxes provided we take care to choose the appropriate type of debt. A good example of debt for reducing our taxes is the debt for buying an investment. That’s because interest on debt for investment is tax deductible.



Tax-free savings accounts—Canadians are allowed to make annual contributions up to a maximum limit of $5,000 to a TFSA(Tax-free savings account). This is a best way for acquiring emergency savings and for holding of speculative investments. And the best thing is that any income you get in the TFSA is not tax deductible.

Record of foreign taxes—Any foreign taxes that you might be paying are eligible to be counted as a credit against taxes paid in Canada on foreign income. So, you must take care to keep a detailed record of all such foreign taxes.

Registered disability savings scheme-Canadians suffering from disabilities can get help under the RDSP (registered disability savings plan). Such a plan is available for Canadians eligible under the federal disability tax credit and is aimed to help Canadians as well as their family members make savings for future use. The annual government grant is fixed at $3,500 subject to a maximum lifetime grant of up to $70,000 and the maximum lifetime contribution is $200,000.

Tax credit for first-time home buyers in Canada---First-time home buyers in Canada can get a 15 percent non-refundable tax credit on $5,000 of their total investment(or up to $750 on their investment). Owning a business—Starting a business of your own helps you in writing off home office, kids, car, gas, electricity. And it’s a great way to cut off your taxes.

Retired and pensioners—Retired Canadians getting a pension can reduce their taxes by splitting up to a maximum of 50 percent of their eligible pension income with either their common-law partner or their spouse.

 

[mayankpandya]

Sun Sea Crew played a crucial role in Smuggling Tamils to Canada

The key role played by the crew members of Sun Sea ship has been brought forward.

According to the Immigration and Refugee Board Canada, among 492 Tamil immigrants, who entered Canada through MV Sun Sea in Around August 2011, were helped by the 12 crew members of the ship, who played prominent role in the major human smuggling that took place.

As by the Kenny Nicolaou, a representative of Canada Border Services Agency told that Sun Sea operation was involved in about by 45 smuggling agents from different countries including Srilanka, Thailand and Malaysia.

They provided people to be smuggled with the passports, tickets to the Bangkok, they spent around 0ne to five months there in hotels or apartments and finally transported through taxi, buses to the Sun Sea. The people were asked to $5000 before boarding the ship and an additional payment of ranging from $5000 to $30, 000 after reaching the Canada. They Sun Sea played key role to smuggle Tamils to Canada.

The charges were further confirmed on hearing from one of the crew members, who served for various purposes as cooking, manning the diesel engine room etc, said by the Canada board.

When inquired further from the member, he tried to limit his role by telling that he oftenly turn up only for his three or four hours shift and rarely helped in other ways. His lawyer defended him, by saying that on base just being a crew member he can be linked with criminal work or human smuggling people.

The board adjudicator is looking for more proofs to find out the involvement of the crew member. If the fellow is found guilty of being one of the criminal organizations, the migrant could even be deported.

After questioning in presence of his lawyer, the migrant said he turned up to Canada for seeking refugee status and don’t know anything about the ship and smuggling activities going in there.

The Canada Border Services Agency is also looking for the man, whose brother was reported to be on the ship and was the key organizer of the crime and smuggling that has taken place. The work done by him and his other helpers and have generated large sums of money through this illegal activity, further added by Nicolaou.

They are also going for the deportation of 40 migrants who they doubt were the members of banned Liberton Tigers of Tamil Eelam terrorist organization, that is active in smuggling. They also believe without the contributions of the crew members Sun Sea would not have been able to make their way to Canada.

 

[mayankpandya]

Alberta housing sector going down

Canada, 10th April: Alberta housing started showing signs of decline in the month of March this year and this has been the six year-over-year decline in the row.

As per the CMHC (Canada Mortgage and Housing Corporation), there has been a decline of 12 percent in the Edmonton housing sector(with 713 homes started) this March as compared to the same

month last year when the total number of homes started were 813.
And there has also been a fall in the year-to-date start of work on homes in Edmonton region.

As per the CMHC, the number of year-to-date starts went down from 2,032 in the first quarter of the year

2010 to 1,565 in the same quarter this year.
In the month of March this year, the total number of single-detachment home starts in the Edmonton census metropolitan region were reported to be down by 54 percent at 236 from the month of March

last year.

As per the official figures, the number of single detached homes started by builders was stated to be 801 in the first quarter of 2011 which is down by 43 percent from the first quarter last year.

According to senior market analyst for the CMHC for Edmonton, Richard Goatcher, the CMHC expects some improvement in the production levels in the coming few months as resale and new

inventories will likely start going downwards.
Nonetheless, there has been an upward trend witnessed in the multiple-unit starts in March this year.

As per the CMHC, the work started on multiple-units including semi-detached row and apartments went up by 59 percent year-over-year to take the figures to 477.

And a similar upward trend was seen

in the start of multiple dwelling units which showed a hike of 20 percent at 764 from the initial quarter of the last year.
Housing starts was down in seven biggest centers by 34 percent this March across Alberta taking the figures from 1,957 to 1,297 this year.

The construction activity was, however, positive nationally surpassing the expectations and this has been primarily due to a rise in the rural activity, reveals CMHC. There has been an increase of 2.8

percent in the annual rate of housing starts(seasonally adjusted ) with a total of 188,800 housing units reported to have started as compared to 183,700 in the month of February last year.

 

[mayankpandya]

NDP proposals will increase access to higher education

Canada, 11th April: The education platform of the New Democratic Party released Sunday will make post-secondary education more affordable and will result in reducing the student debt considerably.

The education platform of the NDP has been welcomed by the Canadian Federation of Students.

Post-secondary education will become more affordable---According to the National Chairperson of the Canadian Federation of Students, David Molenhuis, the education platform of the NDP (New Democratic Party) will make the post-secondary education in Canada more affordable. It will mean higher government funding for the higher education.

As per the proposals, funding for the higher education will go up by $800 million. Moreover, there will be an adoption of a federal post-secondary education act along with provision of a post-secondary education transfer payment aimed for making higher education in Canada more affordable through reductions and freezed in tuition fees.

Higher federal funding for student grants---An increased funding of $200 million will be provided for student grants under the NDP proposals. Since tuition fees in Canada are already at whopping levels making the student community buried under a student debt worth more than $15 billon, such a vision is the dire need for higher education in Canada, Molenhuis added.

Every political party in Canada must make sure to focus on increasing affordability of higher education in the nation, he asserted. Nothing has been offered by the Conservative Party for addressing the concerns of the piling student debt crisis even though proposals for huge investments have been proposed by the New Democratic and Liberal Parties for increasing the university and college education more affordable, Molenhuis maintained.

Canadian Federation of Students happens to be the largest organization of student community in Canada representing nearly one-half million Canadian students in ten Canadian provinces.

The representative student body and its earlier organizations have been serving the interests of the students since the year 1927.

The education platform revealed by Jack Layton, the NDP leader, is a part of the five key priorities aimed for reducing Canadian families’ financial burden and for promotion of safer and a cleaner environment in Canada. Layton said his party will cost out and follow every step for achieving balanced budgets while providing services to the Canadians.

 

[mayankpandya]

Tories pledge aggressive cuts in spending to curb deficit

Canada, 10th April: Stephen Harper, the Conservative Party leader, has vowed to end budget deficit of the nation a year ahead of the schedule.

This will be done by introducing heavy spending cuts worth several billions, stated Harper, provided his party is re-elected to power in May this year.

Low taxes, more jobs, less crime-pledge Conservatives---The platform of the Conservative Party included creation of more jobs, curbing crime and keeping the taxes low. The Conservatives plan delivering investments and tax cuts to the tune of $6.6 billion. The agenda of the Conservatives also includes support for businesses and families. The way to prosperity is not going to be achieved through taxes, said Stephen Harper.

Jobs can not be created through higher taxes, he urged. He refrained going back to the times of higher mortgages, higher taxes, higher spending and higher levels of unemployment in Canada.

Elimination of federal deficit by cutting wastage and curbing spendings---The Conservative Party said they will chalk out a way for increasing efficiency through review of operating expenses for bringing significant reduction in the federal costs. By doing so, the deficit will be eliminated a year prior to the schedule, Harper asserted. He maintained that the party’s platform is realistic and highly accurate.

The five themes of the platform—

• Reduction of red tape, hiring credit for Canadian small businesses, tax cuts and creation of jobs.

• Elimination of deficit for saving $11 billion.

• Support for seniors, families, caregivers through ‘family tax cut’ by doubling the limit of tax-free savings account.

• Combatting human trafficking, re-introducing legislation concerning law-and-order, support for crime victims and safer streets.

• Re-introductiong of legislation for curbing terrorism, buying F-35s and focus on Arctic protection.

Praise and criticism for Conservatives’ platform--Conservatives’ platform, announced in Mississauga, Ontario, drew heavy applause from fiscal conservatives as well as right-wingers. Nonetheless, it attracted wide criticism from its largest opposition party named the Liberal Party.

Tories, in a bid to escape what is being termed as the huge deficit in the history of Canada, estimate a $4 billion in yearly savings by the year 2014-15. The Liberals, on the other hand, are likely to get back nearly $8 billion for the government treasury through roll back of corporate tax cuts. they say the plans for reduction in federal budget by the Conservatives is not credible.

 

[mayankpandya]

Harper Promises to double Tax Free savings account limit

Stephen Harper is planning to increase the tax saving accounts to double as compared to the current limit.

As Elections are fast approaching, the parties have been bringing in a lot of incentives for the public in the future times to come. The various parties have come up with number of policies to get elected this year.

The Stephen Harper has come up with a proposal to double the tax free savings account limit. This would encourage the public to invest and save more than before. “This is one the major step that would allow the public to save their money and can use it as they want to.” Harper said while supporting his proposal.

Tories in their reign before have introduced the schemes in 2008 as tax free accounts for the Canadians above 18 years of age, with a limit of annual limit of not more than $5000. Now they are turning up with the proposal of increasing it to a limit of $10,000 per year, if they are elected this time.

The Canadians, who took up this policy, need not pay taxes on any of their income which they earned from making investments in these accounts. Through it they were facilitated to withdraw the amount and not paying any kind of tax penalty for it and also can be used as investments for the further years.

The increase through such investment is expected to be approximately $30 million in the first year of the scheme. But as further expected that contributors will increase, the cost would be increased by the $300 million per year.

But it will be only be possible after the federal deficit is dealt with, which is expected to get cleared in few coming years that is around 2015.

Conservatives also supports this policy of increasing the amount they can use in their tax saving account after the fiscal deficit is cleared.

They further say with this policy coming into effect, the other will also have its way such as splitting income for the families, youth will also be encourage by providing tax credits. Also the assistance will be provided by them so that people can save more and fulfill their dreams and aspirations as such can by a car, start a small business for them.

But the Liberals and NDP are not supporting this idea, as they strongly feel that Harper is neglecting the actual position of fiscal deficit and making promises which are hard to fulfill.

 

[mayankpandya]

Closure of Calgary meat plant to axe hundreds of jobs

Canada, 12th April: Closure of two Calgary meat processing plants is going to result in loss of jobs for 500 workers next month.

XL Foods’ two beef processing plants, namely XL Beef and XL Meats, will cease its production facilities in the US and Calgary, the company officials have revealed.

Global competition, supply of mature cattle behind closure of beef processing plants--It is not for the first time that XL Foods has been compelled to lay off its employees in Calgary primarily for dwindling cattle supplies. According to chief financial officer of XL Foods, Patrick Bieleny, the supply of mature cattle has been affected by a noteworthy decline in the cow herds in Western Canada.

In addition, challenging competitive marketplace conditions have also complicated matters for the Calgary plant, the official maintained. Brian Nilsson, the co-CEO of the company, regretted for taking such an adverse step, but maintained that facilities were unable to operate due to global competition and mature cattle supply.

The processing plants were working at slow levels and not enough money was being made, stated chairman of the Alberta Beef Producers, Chuck MacLean.

Most of these plants are operating at around 69 percent of their capacity and plants that operate below 80 percent of their working capacity cannot recover their costs, MacLean added.

He added that the company will look for all the possible solutions but it will take anything between four to six years before the plants become productive once again. The news about the shutdowns of the two plants were revealed barely two hours following closure of processing plant in Idaho (Nampa).

Majority of affected laid-off employees are immigrants—Among nearly 50 percent of the employees to be affected by the lay-offs in the two processing plants are immigrants who survive on monthly paychecks.

These immigrant workers send whatever salary they earn each month back to their native towns, stated Lou Craig, union representative. There is panic among the workers since they might lose their homes, and will be left with nothing to survive here, Craig lamented.

Hence, the main issue before the union is to see that all the laid-off workers are given back their jobs at the earliest, he asserted. Officials have, meanwhile, stated that another 500 workers will be released of their jobs after closure of a processing plant of XL Foods in Idaho in the coming times.

 

[mayankpandya]

Housing Market in Canada may see a major decline

The soaring rates of housing industry in Canada, needs quick correction, other wise it may lead to crash in the sector.

Looking at the current scenario the housing market rates are soaring quiet as in comparison to the other the prices in other countries which are experiencing a down fall in these days.

The home rates are quiet high when checked it in comparison with household income. The ratio of the house prices now turns out to be 5.5 which quiet unreasonable as compared to previous averaged one which was 3.5. The gap has to check upon to maintain the proper ratio in future.

The experts are also worried about the bubble boom which the real estate is going through these days in Canada. They are afraid of the economic consequences which the country will have to face due to it.

It is expected that may be in coming time, its consequences will lead to loses in the Mortgage companies, who provide loan and insurances for the buying of properties.

Some experts are of the view that boom in the real estate industry is a genuine growth of demand among those who want to purchase property and there is nothing to doubt about it. They are also of point of view that it is the contribution of latest developments that is the lowering of interest rates, strong banking scenario and a growth in economy is supporting it for a healthy development.

But some experts have a totally opposite point of view, they feel that soaring rates is the results of excessive investments in residential construction sector and also because of the debts levels in the household. It is evident through reports that the gap which was present between the house prices and income has reduced at a high rate through the easy availability of the borrowing.

According to them such a situation is very harmful for the sector in times to come; a need requires strict correction of policies so as to make it stable and in line with actual rates.

The housing sector of Canada is in a sever need of correction, as its percentage is now peaking in GDP, which is a very alarming at this point of time. As it is evident from the previous records, when such percentages peaked in the past, the housing sector of the country received a smashing crash within the few years only.

The idea that Canada real estate have had got a soft landing and prices will come down, without crashing the sector is disagreeable and it’s high time the correction in policies should be given weight age to save the sector in future.