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Economy continues to grow jobs |
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December 7, 2012 -- Statistics Canada announced today that 59,300 net new jobs were created in November and over 90% of those are full-time positions.
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December 10, 2012 – Environment Canada and the Hamilton Port Authority are launching a structural test project that will provide further information to help in the development of the proposed Randle Reef sediment remediation project.
The test project will involve pile driving on Randle Reef in order to confirm engineering design details. The resulting information will be incorporated into future engineering specifications for the construction stage of the proposed sediment remediation project at Randle Reef.
“The clean-up of Randle Reef is important for the future of this community and reflects the Government of Canada’s commitment to clean water for Canadians,” said Canada’s Environment Minister, the Honourable Peter Kent. “This test project is a significant step in moving the proposed Randle Reef sediment remediation project forward.”
“Like so many members of our community around the harbour, we are pleased to see the remediation of Randle Reef moving ahead. This test project will give us valuable information as we progress toward the construction phase,” said Hamilton Port Authority President and CEO Bruce Wood.
Randle Reef is an area of contaminated sediment located in Hamilton Harbour. The proposed Randle Reef sediment remediation project involves constructing an engineered containment facility on top of a portion of the most contaminated sediment, then dredging and placing most of the remaining contaminated sediment in the facility. The facility will be constructed of double steel sheet pile walls with the outer walls being driven to depths of up to 24 metres into the underlying sediment. In total, the facility will securely contain 630,000 cubic metres of sediment contaminated with coal tar (polycyclic aromatic hydrocarbons) and heavy metals.
The test project being launched today involves hammering sheet piles into the lakebed to the depths specified in the engineered containment facility design. Sheet piles are interlocking steel sheets that join together to form a continuous barrier. In this test, pairs of piles will be tested at separate locations around the perimeter of the proposed facility. The results of this pilot test will provide an indication of the force required to drive piles at this site, providing more accurate information regarding the construction of the containment facility.
Hamilton Harbour is a 2,150 hectare bay located at the western tip of Lake Ontario and is connected to the lake by a ship canal. In 1985, it was identified as an Area of Concern under the Canada–United States Great Lakes Water Quality Agreement due to significant impairment of water quality. While many improvements have been made to reduce pollution in the harbour, the problem of contaminated sediments remains.
Cleaning up Randle Reef will improve water quality and reduce contaminant levels in aquatic organisms, making it safer to consume fish caught in the harbour. It will also remove current restrictions on navigation and generate economic returns through the creation of valuable port lands.
The Government of Canada, the Ontario Ministry of the Environment, the City of Hamilton, the Hamilton Port Authority, U.S. Steel Canada, the City of Burlington, and the Regional Municipality of Halton are all working together to advance the proposed Randle Reef sediment remediation project. |
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Increasing the TFSA Contribution Limit |
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November 26, 2012 -- The Hon. Ted Menzies, Minister of State (Finance), and the Hon. Gail Shea, Minister of National Revenue, today announced that Canadians will be able to save an additional $500 in their Tax-Free Savings Account (TFSA) starting in 2013.
The annual contribution limit will be raised to $5,500.
“Our Government remains committed to our low-tax plan for jobs and growth and we are very pleased to offer Canadians ways to save on taxes and keep more of their hard-earned money,” said Minister Menzies. “TFSAs have become an exceedingly valuable savings tool for so many Canadians.”
Since the Government of Canada made TFSAs available in 2009, Canadians have been able to earn tax-free investment income on contributions of up to $5,000 per year. All Canadians – from students to young families to seniors – can earn tax-free income through a range of investment products. TFSAs have become increasingly popular, with approximately 8.2 million Canadians having opened an account and roughly 2.5 million Canadians contributing the maximum amount in 2011.
“We are thrilled that so many Canadians have opened Tax-Free Savings Accounts, and that the number is growing,” added Minister Shea. “Our Government is committed to helping Canadians keep more of their hard-earned dollars, and the TFSA offers yet another opportunity for Canadians to benefit from increased tax savings.”
The Ministers highlighted key features of the TFSA that make it a popular savings vehicle for Canadians:
- A TFSA is available to all Canadians, 18 years and older;
- Any interest, dividends and capital gains earned in a TFSA are not subject to tax;
- A TFSA allows you to invest in a number of types of investments, be it a high-interest savings account, mutual funds, guaranteed investment certificates, listed securities, or other types of qualified investment products;
- Unused TFSA contribution room is carried forward and accumulates for future years;
- Funds available in your TFSA can be withdrawn tax-free at any time for any purpose. You can re-contribute withdrawn amounts in the same year only if you have unused TFSA contribution room. Otherwise, you have to wait until the following year;
- Income earned in a TFSA and withdrawals do not affect your eligibility for federal income-tested benefits and credits; and
- Contributions to a spouse’s or common-law partner’s TFSA are allowed.
“We believe in the TFSA as a savings vehicle,” said Joel Lalonde, Executive Vice-President of Your Credit Union. “Our member owners have been waiting for this increase and will take advantage of it.”
When the TFSA was introduced, the Government announced that the $5,000 annual contribution limit would be indexed to inflation in $500 increments. 2013 will be the year in which the first $500 increment takes effect, which means more room for Canadians to put funds aside for their financial goals.
“We encourage all Canadians to take advantage of TFSAs as a valuable way to save for the future and to save on their taxes,” said Minister Menzies.
To help Canadians take full advantage of this savings vehicle, the Canada Revenue Agency has up-to-date and comprehensive information regarding TFSAs on its website. |
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Supporting Canadian Travellers |
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November 22, 2012 -- As part of the Government of Canada’s new approach to online services and accessibility, all federal government international travel content and services have been merged into Travel.gc.ca.
This single thematic website is an authoritative and comprehensive source of information for Canadians travelling or living abroad, and includes an interactive map of the exact location of Canadian government offices abroad with complete contact information. For the first time ever, the Government has brought together, in one place, information from all federal departments to help Canadians be informed before, during and after their travels.
Travel.gc.ca integrates regularly updated content and resources from 12 government partners to help Canadians easily and efficiently find the information they need to make informed decisions about international travel. The website is also accessible via the new mobile application.
In addition to the website, Travel Smart, a new mobile application, will provide access to travel reports and advisories as well as emergency contact information while abroad – and will work even without access to an internet connection.
In 2010 – from a nation of slightly over 34 million people – Canadians took an amazing 59 million trips outside the country to vacation, study, work and live. |
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