International Leasing & Asset Finance Network
Equipment Sales to Canada - Tarrifs Eliminated or Reduced
Canada's recent budget has lots of opportunities for equipment manufacturers that are considering selling their equipment into Canada.
Tariffs eliminated on a range of machinery and equipment:
Budget 2009 proposes to permanently eliminate tariffs on a range of machinery and equipment. This measure will lower costs for Canadian producers in a variety of sectors, such as forestry, energy and food processing, which must purchase specialized equipment from overseas to modernize their operations and enhance competitiveness. A much needed relief for these industries.
This measure will affect close to $2 billion in annual imports of machinery and equipment and provide over $440 million in savings for Canadian industry over the next five years.
Budget 2009 will also take steps to facilitate the movement of goods by improving the Customs Tariff rules respecting the treatment of temporarily imported cargo containers, and undertake consultations with respect to further liberalizing the use of these containers in Canada.
$200 billion in existing and new measures to support financing for Canadians and Canadian business:
Access to $200 billion of additional financing is now going to become available through an Extraordinary Financing Framework to improve the access to financing and to strengthen the financial system – a much needed addition to the borrowing capacity of Canadians and Canadian businesses to manage through the downturn. Certain measures under the Extraordinary Financing Framework include:
* An additional $50 billion for the Insured Mortgage Purchase Program, increasing its size to $125 billion
* $13 billion to increase the lending of Crown corporations, of which $5 billion will be delivered through the new Business Credit Availability Program
* $12 billion for a Canadian Secured Credit Facility to support financing of vehicles and equipment
* An increase in the loan limit for small businesses under the Canada Small Business Financing Program.The current limit, which has not changed in the past 15 years, will be raised from $250,000 to $350,000 and to $500,000 for loans made for acquiring real property
Certain measures for a greener Canada:
The details of greenhouse gas (GHG) emissions regulation and trading schemes will have a significant impact on business, and several issues are likely to present considerable challenges moving forward. Budget 2009 provided for certain measures to make Canada more environmentally sound.
Measures included:
* $1 billion for green infrastructure projects
* $1 billion over two years for renovation and energy retrofits to social housing
* $300 million over two years to the ecoENERGY Retrofit program
* $1 billion for clean energy research, development and demonstration projects
* $87 million over two years for key Arctic research facilities
* $245 million over two years for the cleanup of federal contaminated sites
* $10 million to improve government environmental reporting
The current political landscape in North America demonstrates significant climate change policy activity occurring at both the federal and provincial/state levels. These policies will have a significant impact on the future of environmental regulation, as climate change remains one of the top societal, economic and political concerns of the 21st century.
According to scientific consensus, the effects of climate change will continue to grow and mitigation and adaptation measures will eventually need to be implemented.
Following is a link to other benefits from the recent budget which is expected to be passed in Parliament today.
http://www.pwc.com/extweb/pwcpublications.nsf/docid/3BE5973469738BA...
We would be pleased to cooperate with anyone that is working with vendors/manufacturers of machinery that could benefit from the recent budget initiatives in Canada. We can assist with importing, distribution and financing.
Tom Moore
Baylore Acceptance Corporation
www.baylore.com
905 333 3600
tmoore@baylore.com
Tariffs eliminated on a range of machinery and equipment:
Budget 2009 proposes to permanently eliminate tariffs on a range of machinery and equipment. This measure will lower costs for Canadian producers in a variety of sectors, such as forestry, energy and food processing, which must purchase specialized equipment from overseas to modernize their operations and enhance competitiveness. A much needed relief for these industries.
This measure will affect close to $2 billion in annual imports of machinery and equipment and provide over $440 million in savings for Canadian industry over the next five years.
Budget 2009 will also take steps to facilitate the movement of goods by improving the Customs Tariff rules respecting the treatment of temporarily imported cargo containers, and undertake consultations with respect to further liberalizing the use of these containers in Canada.
$200 billion in existing and new measures to support financing for Canadians and Canadian business:
Access to $200 billion of additional financing is now going to become available through an Extraordinary Financing Framework to improve the access to financing and to strengthen the financial system – a much needed addition to the borrowing capacity of Canadians and Canadian businesses to manage through the downturn. Certain measures under the Extraordinary Financing Framework include:
* An additional $50 billion for the Insured Mortgage Purchase Program, increasing its size to $125 billion
* $13 billion to increase the lending of Crown corporations, of which $5 billion will be delivered through the new Business Credit Availability Program
* $12 billion for a Canadian Secured Credit Facility to support financing of vehicles and equipment
* An increase in the loan limit for small businesses under the Canada Small Business Financing Program.The current limit, which has not changed in the past 15 years, will be raised from $250,000 to $350,000 and to $500,000 for loans made for acquiring real property
Certain measures for a greener Canada:
The details of greenhouse gas (GHG) emissions regulation and trading schemes will have a significant impact on business, and several issues are likely to present considerable challenges moving forward. Budget 2009 provided for certain measures to make Canada more environmentally sound.
Measures included:
* $1 billion for green infrastructure projects
* $1 billion over two years for renovation and energy retrofits to social housing
* $300 million over two years to the ecoENERGY Retrofit program
* $1 billion for clean energy research, development and demonstration projects
* $87 million over two years for key Arctic research facilities
* $245 million over two years for the cleanup of federal contaminated sites
* $10 million to improve government environmental reporting
The current political landscape in North America demonstrates significant climate change policy activity occurring at both the federal and provincial/state levels. These policies will have a significant impact on the future of environmental regulation, as climate change remains one of the top societal, economic and political concerns of the 21st century.
According to scientific consensus, the effects of climate change will continue to grow and mitigation and adaptation measures will eventually need to be implemented.
Following is a link to other benefits from the recent budget which is expected to be passed in Parliament today.
http://www.pwc.com/extweb/pwcpublications.nsf/docid/3BE5973469738BA...
We would be pleased to cooperate with anyone that is working with vendors/manufacturers of machinery that could benefit from the recent budget initiatives in Canada. We can assist with importing, distribution and financing.
Tom Moore
Baylore Acceptance Corporation
www.baylore.com
905 333 3600
tmoore@baylore.com
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