In this edition:
- Ontario cuts provincial HST on new homes for first-time homebuyers
- Niagara College Research & Innovation celebrates 370 projects for 166 partners in 2024-25
- Niagara Falls Beer Store among closures announced for November
- West Lincoln seeks local vendors for Holiday Market
- New study shows arts and culture contributed $65 billion in direct GDP in 2024
- Canada Post lays off dozens of managers amid restructuring, labour dispute
- Focus on Finance & Economy
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The Hon. Rob Flack, Minister of Municipal Affairs and Housing | Picture credit: Brad Demers / Greater Niagara Chamber of Commerce
Ontario cuts provincial HST on new homes for first-time homebuyers
The provincial government is proposing to rebate the full 8 per cent provincial portion of the HST for first-time home buyers on new homes valued up to $1 million as part of the 2025 Fall Economic Statement.
The new Ontario rebate would be available in addition to the existing Ontario HST New Housing Rebate, which already provides relief of up to $24,000 to eligible purchasers, including but not limited to first-time home buyers.
Picture credit: Niagara College
Niagara College Research & Innovation celebrates 370 projects for 166 partners in 2024-25
Niagara College Research & Innovation has released its 2024-25 edition of Research and Innovation By the Numbers. The report reveals that the department leveraged $9,326,893 in funding from a variety of sources, working with 166 unique industry and community partners on a total of 370 projects and services.
Photo credit: eugen / Adobe Stock
Niagara Falls Beer Store among closures announced for November
As previously announced, locations in Mississauga, London, Niagara Falls, Pickering, Sudbury and Mattawa will run dry at the end of the business day on Sunday, Nov. 2.
Picture credit: Township of West Lincoln
West Lincoln seeks local vendors for Holiday Market
Picture credit: CasanoWa Stutio / Adobe Stock
New study shows arts and culture contributed $65 billion in direct GDP in 2024
Canada’s arts and culture sector contributed $65 billion in direct GDP to the Canadian economy in 2024, growing faster and supporting more jobs per dollar than other key sectors like oil and gas, manufacturing or agriculture. These findings come from Artworks: The Economic and Social Dividends from Canada’s Arts and Culture Sector, a new report conducted by the Canadian Chamber of Commerce’s Business Data Lab.
Photo credit: Kevin Brine / Adobe Stock
Canada Post lays off dozens of managers amid restructuring, labour dispute
Canada Post has laid off dozens of managers amid its restructuring plan and ongoing labour dispute with employees, a source confirmed to CTV News.
“These changes are a continuation of our corporate-wide restructuring efforts to better align our management team with the future needs of the organization,” wrote Canada Post president and CEO Doug Ettinger in a memo to employees obtained by CTV News. “While these decisions are sometimes necessary, they are never taken lightly.”
Focus on Finance & Economy
Taxes, red tape are ‘silent killer’ of Canada’s competitiveness, TD warns
John MacFarlane /Yahoo!Finance
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.
