Suncor Energy Inc. T.SU

Taxing share buy backs

[Galou10]

I would be interested to see how taxing companies for share buy backs lowers the oil prices. Do they then subsidize fuel at the pumps. I believe the government is over stepping their boundaries. On the brighter note, if they do tax buy backs the companies will either have to pay off debt or give money back to share holders who will then have to pay taxes on the div.

[MigraineCall]

This seems like a Liberal attempt at a tax grab, kind of like a windfall tax which seems to be a popular theme with other socialist regimes targeting energy companies.  1- Is this industry specific, like for energy companies only? 2 - If they tax a share buyback, will there be a tax credit when a company prints and dilutes shares? 3 - Will they give tax breaks when the cyclical industry

[delissio]

Excellent points! BTW - You made my day MC - still trying to catch my breath on the floor :) :) :). Drinks are on me once I make it to Thailand. Cheers! 

[newtonboy]

4 - Would someone please go back in time and give Pierre Trudeau a condom?  Would be wise to give Fidel one as well.

[meritmat]

Talked to a friend of mine and he heard 1%. Same as what the US brought it.  If that's all it is I can live with that 

[MaximusGainus]

It may start with 1%, then who knows how high they will ratchet it up from there.   All the more reason to buy back as many shares as possible right now before this stupid buyback tax gets as ugly as Freeland. Dividends can wait.  Just look at free cash flow now and imagine if it was all given out as dividends. There will be HUGE dividends to come, and also a re rating.

[Clemxb7]

Heres what I found on the CBC. The total of the two taxes will generate 2.1 billion over 5 years. Yeah sounds like 1%.:  It's promising to tax share buybacks and introduce a new minimum tax regime for the richest Canadians, measures that are expected to boost government revenue by $2.1 billion over five years.

[meritmat]

2% and won't come into effect till 2024

[pooltec]

"EVERY MAN A KING" Huey Long

[Maxmoe]

Sounds like SFA and inflation will push everyone up an income tax bracket anyway as they drag their tails moving those brackets up. That'll kick way more than 400 million @ into the pot. I predict it won't happen as most likely, that they'll complicate it with so many exemptions and deductions it will be close to zero, and/or option 3 companies with their gaggle of tax lawyers and

[555rookie555]

Effective only in 2024? The liberals used this as political leverage to keep their NDP comrades appeased while also making sure Pollievere's Conservatives will gripe about this in the next election.... Then liberals can defend the position to pull some orange into their fold while ensuring they don't lose any of their socialist supporters (aka people who tend not to a - work hard or b

[pooltec]

"EVERY MAN A KING"   "Huey Long"