Income Tax Act 1947

ECN Capital Reports US$0.00 in Adjusted Net Income per Common Share in Q3-2023

Retrieved on: 
Monday, November 13, 2023

TORONTO, Nov. 13, 2023 (GLOBE NEWSWIRE) -- ECN Capital Corp. (TSX: ECN) (“ECN Capital” or the “Company”) today reported financial results for the three-month period ended September 30, 2023.

Key Points: 
  • TORONTO, Nov. 13, 2023 (GLOBE NEWSWIRE) -- ECN Capital Corp. (TSX: ECN) (“ECN Capital” or the “Company”) today reported financial results for the three-month period ended September 30, 2023.
  • For the three-month period ended September 30, 2023, ECN Capital reported Adjusted net income applicable to common shareholders from continuing operations of $0.5 million or $0.00 per share (basic) versus $0.7 million or $0.00 per share (basic) for the previous three-month period and $11.8 million or $0.05 per share (basic) for the same period last year.
  • Net (Loss) Income attributable to common shareholders for the three-month period ended September 30, 2023 was ($6.0) million versus ($30.0) million for the previous three-month period and $6.3 million for the same period last year.
  • These dividends are designated to be eligible dividends for purposes of section 89(1) of the Income Tax Act (Canada).

Stingray Reports Second Quarter Results for Fiscal 2024

Retrieved on: 
Tuesday, November 7, 2023

Reporting on second quarter results for fiscal 2024, Stingray's President, co-founder and CEO Eric Boyko stated:

Key Points: 
  • Reporting on second quarter results for fiscal 2024, Stingray's President, co-founder and CEO Eric Boyko stated:
    “Stingray delivered solid second quarter results with organic growth of 7.1% year-over-year in Broadcast and Recurring Commercial Music revenues, resulting in Adjusted EBITDA of $29.5 million or an increase of 9.2% compared to last year.
  • In terms of free ad-supported streaming TV (FAST), 18 new Stingray channels appeared on Samsung TV Plus in the U.S. last month.
  • Revenues increased $4.9 million, or 6.3%, to $82.5 million in Q2 2024 from $77.6 million in Q2 2023.
  • For the quarter, revenues in Canada rose $1.2 million, or 2.5%, to $48.4 million from $47.2 million in Q2 2023.

Dr. Reddy’s Q2 FY24 Financial Results

Retrieved on: 
Friday, October 27, 2023

Q2 FY24 revenue at Rs.

Key Points: 
  • Q2 FY24 revenue at Rs.
  • Q2 FY24 revenue at Rs.
  • Q2 FY24 revenue at Rs.
  • Net Finance income for Q2 FY24 at Rs.1.2 billion compared to net finance expense of Rs.

Enforcement Notification - Tax evasion - Collecteur Project: heavy sentence for a third taxpayer involved in a money laundering network

Retrieved on: 
Tuesday, June 20, 2023

A CRA investigation revealed that Mr. Jaber had set up a system to launder money derived from the illicit activities of various individuals.

Key Points: 
  • A CRA investigation revealed that Mr. Jaber had set up a system to launder money derived from the illicit activities of various individuals.
  • This conviction is the result of a joint investigation by the CRA and the Royal Canadian Mounted Police, dubbed Collecteur Project , which targeted a money laundering and tax evasion scheme.
  • The CRA helps to prevent, detect and disrupt money laundering by investigating suspected cases of tax evasion, tax fraud and other serious violations of Canada's tax laws.
  • The CRA has set up a free subscription service to help Canadians stay current on the CRA's enforcement efforts.

Enforcement Notification - Tax evasion - Ottawa landlord fined for tax evasion

Retrieved on: 
Wednesday, May 31, 2023

Ho was found guilty on March 31, 2023, of tax evasion under the Income Tax Act.

Key Points: 
  • Ho was found guilty on March 31, 2023, of tax evasion under the Income Tax Act.
  • By employing this scheme, Ho underreported income on his and Nguyen's individual tax returns from 2008 to 2012 in an amount totaling $95,747, thereby evading $27,759 in federal income tax.
  • The CRA continues to aggressively pursue tax evasion, and false claims with all the tools available to it.
  • The CRA has set up a free subscription service to help Canadians stay current on the CRA's enforcement efforts.

ECN Capital Declares First Quarter 2023 Preferred Share Dividend

Retrieved on: 
Tuesday, March 14, 2023

TORONTO, March 14, 2023 (GLOBE NEWSWIRE) -- ECN Capital Corp. (TSX: ECN) (“ECN Capital” or the “Company”) announced today that the Company’s Board of Directors has authorized and declared a quarterly dividend of C$0.4960625 per outstanding Cumulative 5-Year Rate Reset Preferred Share, Series C (TSX: ECN.PR.C) to be paid on March 31, 2023 to shareholders of record as of close of business on March 21, 2023.

Key Points: 
  • TORONTO, March 14, 2023 (GLOBE NEWSWIRE) -- ECN Capital Corp. (TSX: ECN) (“ECN Capital” or the “Company”) announced today that the Company’s Board of Directors has authorized and declared a quarterly dividend of C$0.4960625 per outstanding Cumulative 5-Year Rate Reset Preferred Share, Series C (TSX: ECN.PR.C) to be paid on March 31, 2023 to shareholders of record as of close of business on March 21, 2023.
  • This dividend is designated to be an eligible dividend for purposes of section 89(1) of the Income Tax Act (Canada).

Enforcement Notification - Tax evasion - Collecteur Project: Canada Revenue Agency joint forces operation leads to the conviction of two taxpayers guilty of tax evasion

Retrieved on: 
Friday, February 24, 2023

He pleaded guilty to one count of tax evasion under the Income Tax Act, for making false or misleading entries in Mr. Gramian-Nik's accounting records.

Key Points: 
  • He pleaded guilty to one count of tax evasion under the Income Tax Act, for making false or misleading entries in Mr. Gramian-Nik's accounting records.
  • The CRA helps to prevent, detect and disrupt money laundering by investigating suspected cases of tax evasion, tax fraud and other serious violations of Canada's tax laws.
  • The CRA continues to aggressively pursue tax evasion, and false claims with all the tools available to it.
  • The CRA has set up a free subscription service to help Canadians stay current on the CRA's enforcement efforts.

Enforcement Notification - Tax evasion - Burlington business owner sentenced to 36 months in jail for tax fraud

Retrieved on: 
Thursday, January 12, 2023

The fine represents 100% of the amount of Goods and Services Tax/Harmonized Sales Tax (GST/HST) claims Mr. Danek unlawfully obtained as refunds.

Key Points: 
  • The fine represents 100% of the amount of Goods and Services Tax/Harmonized Sales Tax (GST/HST) claims Mr. Danek unlawfully obtained as refunds.
  • Being convicted of tax fraud under Section 380 of the Criminal Code carries a sentence of up to 14 years in jail.
  • The CRA continues to aggressively pursue tax evasion, and false claims with all the tools available to it.
  • The CRA has set up a free subscription service to help Canadians stay current on the CRA's enforcement efforts.

Enforcement Notification - Richmond Paradigm "educator" on the run for over a decade sentenced to jail for tax protester scheme

Retrieved on: 
Friday, December 2, 2022

Mr. Ho was an "educator" with the Paradigm Education Group (Paradigm), a fraudulent scheme that counselled people across Canada to evade taxes.

Key Points: 
  • Mr. Ho was an "educator" with the Paradigm Education Group (Paradigm), a fraudulent scheme that counselled people across Canada to evade taxes.
  • On August 11, 2022, Mr. Ho surrendered himself to custody and was granted release on bail on September 1, 2022.
  • For those involved in tax protester schemes, the CRA will reassess income tax, charge interest and impose penalties.
  • The CRA has set up a free subscription service to help Canadians stay current on the CRA's enforcement efforts.

ECN Capital Reports US$0.05 in Adjusted Net Income per Common Share in Q3-2022

Retrieved on: 
Wednesday, November 9, 2022

TORONTO, Nov. 09, 2022 (GLOBE NEWSWIRE) -- ECN Capital Corp. (TSX: ECN) (ECN Capital or the Company) today reported financial results for the three-month period ended September 30, 2022.

Key Points: 
  • TORONTO, Nov. 09, 2022 (GLOBE NEWSWIRE) -- ECN Capital Corp. (TSX: ECN) (ECN Capital or the Company) today reported financial results for the three-month period ended September 30, 2022.
  • For the three-month period ended September 30, 2022, ECN Capital reported Adjusted net income applicable to common shareholders from continuing operations of $11.8 million or $0.05 per share (basic) versus $11.3 million or $0.05 per share (basic) for the previous three-month period and $3.5 million or $0.01 per share (basic) for the same period last year.
  • Q3 was another solid quarter with resilient demand from end consumers across both manufactured housing and marine & RV, said Steven Hudson, CEO of ECN Capital Corp.
  • Net Income attributable to common shareholders for the three-month period ended September 30, 2022 was $6.3 million versus $8.1 million for the previous three-month period and $20.8 million for the same period last year.