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Oct 19, 2022 · JOHN'S, N.L. - Soaring oil prices and unexpected tax windfalls have driven a sea change in Newfoundland and Labrador's financial outlook for the fiscal year, putting the province on...
- An Uncertain Future
- Future Fund
- An Improved — But Volatile — Situation
Coady said the improved situation has resulted in all three of the provincial government's credit agencies moving their outlooks for Newfoundland and Labrador from negative to stable. Oil prices are higher than projected — up from $86 US per barrel to $102 per barrel — and production is up, from 83.1 million barrels to 85.2 million barrels. Total p...
Coady announced the provincial government will contribute $157 million to a fund it will eventually use to pay down debt. Last week, the provincial government announced details of legislation to create what it's calling a "future fund," where it plans to deposit a portion of oil royalties and revenues from the sale of assets over $5 million. Accord...
Coady said the province is seeing "solid" signs of economic growth, but she pointed to rumbles of a global economic recession that could signal potential future difficulties. The provincial government previously hinted at the improved outlook when it announced one-time cheques for residents who earn $125,000 or less would be delivered this fall. Co...
Dec 21, 2023 · The price of gasoline, diesel and stove oil in Labrador are up due to rising costs for suppliers tied to federal clean fuel regulations, according to Newfoundland and Labrador's Public Utilities...
May 26, 2022 · Minimum wage going up to $15 an hour by October 2023, while 7-cent cut to gas tax only temporary. The Newfoundland and Labrador government says it will temporary cut the provincial gasoline and...
Feb 1, 2022 · Taxpayer includes $20 in its AFS revenue in 2021. Taxpayer properly applies its inventory tax accounting methods and incurs $12 of costs for tax purposes in 2021 and $48 in 2022. Taxpayer implements the final regulations and chooses to adopt the cost - offset method beginning in 2021.
Gasoline consumed in or by fishing, farming, logging, manufacturing and processing, transportation by boat, locomotives, generation of electricity and household fuels may be exempted from the tax. Persons exempted from the tax on gasoline may apply to the Department of Finance for a tax rebate.
People also ask
Why are fuel prices up in Labrador?
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Will Newfoundland & Labrador have a budget surplus in 2022?
Jun 30, 2023 · Prince Edward Island and Newfoundland and Labrador are still deciding whether to increase prices immediately. Other provinces do not have energy boards that set gas prices, so it will be up to the fuel suppliers to decide if they change.
