KeatsConnelly Cross-Border Weekly Best of the Web 2014-3-28

web-search-greyEvery week we share news stories, blog articles and other interesting stuff from around the web that received the most views, shares, comments and overall interest on various KeatsConnelly social media outlets.This week we offer a mix of articles discussing the loonie, Canadian real estate and foreign investors, FATCA rules…

Loonie’s rise continues as it closes almost half a cent higher (www.theglobeandmail.com) The Canadian dollar closed higher Thursday amid mixed data on whether the U.S. economic recovery remains on track. The loonie gained 0.43 of a cent to end at 90.65 cents (U.S.). The Commerce Department says the U.S. economy grew at a 2.6 per cent annual rate from October to December, slightly more than previously estimated, as consumer spending rose at the fastest pace in three years. Analysts had been expecting a growth rate of 2.4 per cent…

More Canadian real estate being scooped up by foreign investors  (http://business.financialpost.com) Foreign investment proved to be one of the main drivers in the hotel sector last year, says a new report. According to Colliers International, investors from outside the country bought $857-million worth of hotels in 2013 — the highest level for foreign investment in the sector since 2007. The foreign investment figure was driven by one of the largest transactions of the year, the five-property Westin Canadian hotel portfolio which was responsible for 89% of all foreign purchases in the year. The winning bid was from an affiliate of U.S.-based Starwood Capital Group and backed by Middle East investors…

UPDATED: CRA may ignore FATCA trust rules (www.advisor.ca) A leaked document appears to reveal the Department of Finance and CRA may deviate from a tax deal struck with the U.S.Leaked by the Isaac Brock Society yesterday, the document purportedly presents the agency’s interpretation of draft legislation which, if passed, would give force to the Intergovernmental Agreement (IGA) on FATCA signed between Canada and the U.S. on February 5…

Come back next week for more interesting news and articles. Enjoy your weekend!

Come back next week for more interesting news and articles. Enjoy your weekend!

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Cross-Border Series
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