In this edition:
- New laws, tax cut take effect tomorrow
- Canada cancelled its digital services tax. What was it and why did the U.S. hate it?
- DHL Express Canada strike ends, operations resuming
- Ontario caps rent increases at 2.1%
- Focus on Technology
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Picture credit: JHVEPhoto / Adobe Stock
New laws, tax cut take effect tomorrow
Several new laws in Ontario will take effect July 1, some of which may affect Niagara businesses. The Government of Ontario has issued a full list, viewable below.
As of tomorrow, July 1, the Government of Canada’s middle-class tax cut will also be in effect. This tax cut will save a two-income family up to $840 a year and generate tax savings for 22 million Canadians.
Photo credit: frender / Adobe Stock
Canada cancelled its digital services tax. What was it and why did the U.S. hate it?
Tech giants such as Amazon and Google will not have to shell out close to $2-billion as expected Monday, as Canada moved to cancel the controversial digital services tax on Sunday, just one day before the first payment was due.
The announcement from Finance Minister François-Philippe Champagne came late Sunday evening, following a phone call between Prime Minister Mark Carney and U.S. President Donald Trump.
The Canadian Chamber of Commerce commended the move, saying the measure was “counterproductive for business and trade negotiations.”
Picture credit: Belish / Adobe Stock
DHL Express Canada strike ends, operations resuming
DHL Express Canada is resuming all operations June 30 after employees ratified a new labor contract, ending a lockout and strike that lasted nearly three weeks.
Picture credit: Andrii Yalanskyi / Adobe Stock
Ontario caps rent increases at 2.1%
The Ontario government is capping rent increases for 2026 at 2.1 per cent. This cap is based on Ontario’s Consumer Price Index, a measure of inflation calculated by Statistics Canada using data that reflects economic conditions over the past year.
Focus on Technology
Experts warn against relying on AI for investment decisions
Leah Golob, Yahoo!Finance
Bob Lai, a personal finance blogger, sometimes uses ChatGPT, Gemini and Claude to support his investment research, but draws a firm line when it comes to decision-making.
Lai, who invests in dividend-paying stocks and index ETFs, uses artificial intelligence (AI) to analyze stocks, spot gaps in his research and get a “second opinion” on the stability of his dividend income. However, he says he always makes the final call. “I want to make sure a human (i.e. me) is behind the final decision-making process,” he said.
According to a 2025 Canadian Investor Study published by Broadridge Financial Solutions, 88 per cent of investors say they’re likely to act on the information generative AI provides. Among investors using AI, 21 per cent are millennials, 18 per cent are Gen Z, eight per cent are Gen X, and three per cent are baby boomers.
Through the Daily Updates, the GNCC aims to deliver important business news in a timely manner. We disseminate all news and information we feel will be important to businesses. Inclusion in the Daily Update is not an endorsement by the GNCC.
